ELLSWORTH — The Maine Community Foundation (MaineCF) has provided grant support for a study that highlights the power of philanthropy throughout the state.

“The upcoming intergenerational transfer of wealth has the potential to transform future bequests into assets that will sustain Maine’s communities,” said Meredith Jones, MaineCF president and CEO. “This is exciting for large and small communities in Maine.”

According to the report, over the next 10 years Mainers are likely to transfer $29 billion to the next generation. If all Mainers invested 5 percent of their estates in community endowment funds, by 2020 these funds would supply an additional $74 million every year to benefit Maine communities.

For Hancock County, the report estimates a $1.9-billion intergenerational transfer in the next 10 years, which could result in an additional $4.8 million annually for local causes if people directed 5 percent of their wealth to community endowments.

A copy of the report “Realizing Maine’s Worth: Our Community Legacy” can be obtained by calling (207) 581-4520 or downloading it at the Maine Rural Partners Web site, www.mainerural.org/legacy.

For more community news, pick up a copy of The Ellsworth American.