CAPITAL REGION — As the huge baby boom generation born after World War II begins to die over the next 10 to 27 years, billions of dollars in wealth will be transferred in the Capital Region, according to a study released Thursday by umbrella charity group Community Foundation for the Greater Capital Region.

The foundation coordinates donations to about 300 nonprofit organizations and has set the goal of getting at least five percent of that wealth for charity.

The study estimates that between 2005 and 2015 approximately $13.7 billion in the 10 counties of the greater Capital Region will be transferred out of the ownership of aging baby boomers and the remaining citizens of older generations.

Over a 50-year period that figure balloons to $98.8 billion.

“Over the next few decades, Americans will transfer wealth from one generation to the next in unprecedented amounts,” said Kristen Frederick, Community Foundation president and chief executive officer. “This represents an extraordinary opportunity for our communities. Some of that wealth can — and should — support community needs and quality of life into the future.“

Community Foundation for the Greater Capital Region Thursday also officially expanded beyond its traditional scope of Albany, Schenectady, Saratoga and Rensselaer counties to include Fulton, Montgomery, Schoharie, Greene, Columbia and Washington counties.

According to the study, if 5 percent of the wealth transferred between 2005 and 2015 in the region is donated to charity, organizations would receive a total of $683 million.

The study was paid for by the Community Foundation and conducted by the Rural Policy Research Institute’s Center for Rural Entrepreneurship. RUPRI used statistics from the Federal Reserve, the U.S. Bureau of Economic Analysis and other government figures to estimate local wealth levels.

Frederick said over the next 12 to 18 months she will make four presentations in each county, two to certified financial planners and two to nonprofit organizations.

“I want to talk to the estate planners and the financial planners, so that they know what the nonprofits are in their backyard,” she said. “I want to tell the nonprofit communities that there will be an end to this pipeline.”

According to the study, at about the year 2035, because of expected demographic factors, the amount of wealth being transferred in the greater Capital Region will peak and then decline, even as the national amount will continue to rise.

“Ultimately, we need to tell the nonprofits that they need to start planning, not just for their operations and annual funds, but they need to look at planned giving to build the endowments to provide them with an income source in perpetuity,” Frederick said.

The RUPRI Center for Rural Entrepreneurship calculated that if 5 percent of the wealth transferred between 2005 and 2015 were donated to nonprofit organizations and then invested in endowed funds yielding 5 percent annual interest, the payout would total $34.2 million every year.

“Creating scenarios reaching out 50 years is somewhat heroic. But this [10-year] time frame provides a full generational picture of the transfer dynamic.” RUPRI lead researcher Don Macke said.

Robert Dollar, an investment and trusts consultant with KeyBank, said his company helped pay for the study. Dollar said he’s worked with many families planning end-of-life financial decisions. He said families are often willing to donate money if they understand the options available to them.

“There can be no planning and [money will go to taxes] to build a new highway, or there can be planning and it can stay within the community,” he said.

Wealth transfer

Expected greater Capital Region wealth transfer from 2005 to 2015:

Albany County: $4.1 billion

Schenectady County: $2 billion

Saratoga County: $2.4 billion

Rensselaer County: $1.8 billion

Columbia County: $765 million

Washington County: $648 million

Fulton County: $625 million

Montgomery County: $536 million

Greene County: $531 million

Schoharie County: $299 million

Source: rural policy research institute Center for Rural Entrepreneurship