Roadmap to Strengthening Communities: Community Opportunities and Needs Assessment
The Community Foundation of West Texas and its Affiliates have embarked on an initiative to identify the region’s best opportunities and most pressing needs, and to set bold goals to achieve over the coming years.
What is it like living today in the each of the counties that make up the South Plains region – and what opportunities and challenges face us as we forge a future together? This is a conversation worth having. The facts and figures and perspective offered in each Community Opportunities and Needs Report are meant to help open that conversation.
This important work is a collaboration between the Foundation, many community volunteers, and a partnership team from two national organizations with expertise in regional and rural development: the Center for Rural Entrepreneurship and the Aspen Institute Community Strategies Group.
What is a “Transfer of Wealth”?
As assets transfer from one generation to the next, families have a unique opportunity to create a lasting community impact. In places where residents care deeply about the future of their community, like communities in West Texas, this transfer of wealth (TOW) is an important opportunity. Handing down from one generation to the next represents the largest under-developed financial resource in the area. Timing is also critical. For the communities of West Texas, the TOW opportunity begins sooner because of the aging demographics of the region.
If community members want to do something to keep their place great and make it even better, the experiences of other rural communities will show you, this is one of the best ways to achieve it. Starting today will help communities strategize to keep a portion of these transferring assets in your communities – and endowed and used for purposes you and your neighbors care about.
How big is that opportunity?