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A Crystal Ball in Greensboro: Five Ways Millennials May Approach Philanthropy
(June 27, 2019) – Much has been said about the coming wealth transfer to millennials, and how it will impact conventional practices of philanthropy. It’s certainly worth watching. Investment News projects that $30 trillion in assets will move from baby boomers to millennials and Gen Xers in the coming decades, the largest intergenerational transfer of wealth in history.
Elizabeth and Kevin Phillips found themselves on the leading edge of that seismic shift when they assumed leadership of Kevin’s family business and foundation just after college, while still newly married and starting a family. The couple moved to Greensboro, North Carolina, when Kevin’s grandfather, Kermit, passed away. Kevin stepped into the business, while Elizabeth ran the recently endowed foundation.