Community Foundations of the Hudson Valley released a study saying that Dutchess, Putnam and Ulster counties stand to lose much of their net worth as money transfers to heirs who live across the country. Our John Wagner has the details on how to keep money local.

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DUTCHESS COUNTY, N.Y. -- For nonprofits to thrive, they rely on foundations for grants and on locals for donations. At the Catherine Street Community Center, there's plenty of desire for more programs, but not enough money.

"We have had several funding streams to dry up over the years and it has just made it very difficult. We are all competing as far as fundraising," said Shirley Adams, executive director of CSCC.

A new study shows $37 billion sits in Dutchess County and in the next ten years an estimated $11.5 billion of that will transfer hands from one generation to the next.

And charities say there are plenty of opportunities to help out a home-town.

"People are barely giving one percent of their income back to charity so what we wanted to do was raise the level of charitable giving and ask people to consider giving up to five percent as their legacy," explained Andrea Reynolds, president and CEO of Community Foundations of the Hudson Valley. "To make it part of their will to support the community that has benefitted them."

If just five percent of each estate was willed to charitable endowments, an estimated $28 million additional dollars would be available to Dutchess County nonprofits every year moving forward, making quite a difference.

"These are legacies that are going to be around forever so when a donor sets up a fund with us, we do invest it," said Reynolds. "It earns money and then more and more money is able to go back to the community over time."

"Without that support and without the individuals that give to the Community Foundations, I don't think the Children's Museum would be able to stay alive," said Edward Glisson, executive director of another nonprofit, the Mid-Hudson Children's Museum.

Catherine Street received a $1,500 grant for a Spanish teacher. It's part of nearly $2 million awarded by Community Foundations this year, but community center leaders say they know they'd be able to add programs if residents took the five percent challenge.

"We'd like to do more and in more areas," continued Adams. "But you have to focus because the resources are just not there."