Columbia, Maryland - May 18, 2007 - The Columbia Foundation officially unveils Part II of its study, “Portrait of Philanthropy: The Capacity for Individual Giving in Howard County,” at its Annual Meeting on November 9 at 6 p.m. at Ten Oaks Ballroom in Clarksville. Part II, the Howard Legacy Study, looks at the county’s potential for bequest gifts as The Columbia Foundation launches its Howard Legacy Society. The Howard Legacy Society is a membership organization of those who have remembered The Columbia Foundation in their wills and estate planning.

Research shows that of the 42% of people who have wills, only 8% leave charitable bequests in them. Yet bequests are the fastest growing source of unrestricted income to charities and are responsible for 80% of all existing endowments. Charitable bequests are the most popular of all planned gifts, accounting for 90% of planned giving. A new study, released this past October by Boston College’s Center on Wealth and Philanthropy, shows that Washington area residents are expected to bequeath $2.4 trillion over the next 50 years.

“Leaving a financial legacy has not yet become a habit in Howard County,” says Jean F. Moon, whose firm, Jean Moon & Associates, authored the study. “Yet all factors indicate that it is just a matter of time. We are already philanthropists, enjoy high income levels, and are less likely to have families to support. We are a community that is caring and involved – and that is the first step.”

Interviews with local bequest donors supported national studies indicating that familiarity with an organization and support for its work are the primary reasons for legacy gifts. A number of donors also cited a significant event as a catalyst, such as retirement, an inheritance, the graduation of a child, or an illness.

Founded in 1969, the Foundation has awarded nearly $9 million in grants to Howard County nonprofit organizations delivering human service, arts and cultural, educational and civic programs. Money for the grant programs comes primarily from income generated by the Foundation’s endowment supported by 204 funds established by Howard County businesses, families and individuals. For more information on The Columbia Foundation, visit www.columbiafoundation.org or call 410-730-7840.