Powerball Winners From Connecticut Donate $1 Million For Veterans

GREENWICH, Conn. -- A trio of Connecticut money managers who split a $254 million Powerball jackpot say their new charitable trust is giving $1 million to five organizations that support veterans and military members who recently returned from deployments.

A spokesman for the Putnam Avenue Family Trust says the donations, announced Sunday, are the first of many they expect to make using lottery winnings they claimed Nov. 28.

The trust created by Greg Skidmore, Brandon Lacoff and Tim Davidson took in a $103.5 million lump sum after taxes. They say they hope the trust's donations will become an example for other lottery winners.

The first recipients are receiving $200,000 each: The Bob Woodruff Foundation, Building Homes for Heroes, Services for the Under Served, Operation First Response and the Intrepid Fallen Heroes Fund.

WATCH Related Video:

Comments

[archedes]

09:26 AM on 12/07/2011

Wow !! I'm overwhelmed !! 1M out of out of almost 105M. Let's see - even though I am not one of the 1% I can still do math and that is approximately 1% of their winnings. ONE PERCENT - on top of all their other wealth 'earned' as hedge hog managers, with their tax breaks - that's about
$ 0.85 in regular people's money......it's nice that that want to earn some decent pr for being 'charitable' - but 1% is not enough in terms of their wealth....they'll need to step it up to a less laughable amount if they really want to be seen as being genuinely 'charitable'. Being poor doesn't mean being stupid... and we don't need to be played by 1% from 1%-ers.

[kimahely]

01:04 AM on 02/10/2012

So Arch, how much of your salary have you donated ? 1%,2%,5%?
Just wondering ....

[baldguy]

12:37 PM on 03/06/2012

It's a little different when each dollar you earn is necessary to pay rent/mortgage, feed your family and get you to work so you can keep the treadmill going. Don't be a jerk.

[Lindsay Blogs]

07:44 AM on 12/07/2011

Good for them!

[tccat4]

03:18 AM on 12/06/2011

Wouldn't you be ticked off, to win 245 million and have to get $103.5 million, without the loop holes the 1% already have, they pay way less for having much more.

[wanagiakicita]

06:59 AM on 12/07/2011

No, actually I'd be pretty happy with $103.5 and would still have plenty for my family to live on and help others with. I admire them setting up the charity and helping others with their winnings. Much better than just going out and buying three new homes, four cars and blowing the rest on gambling and drugs like so many others have done before them. From a vet: THANKS GUYS for helping the vets that need it so much right now.

[tccat4]

07:23 AM on 12/07/2011

As a Vet, Its great to know people out there care. There are many of us out there that are Vietnam Vets, and If I was lucky to win, Id buy 10,000, electric ride on scooters, the VA, doesn't give them out in less the person has lost both legs, there are many that need them, those of us that cant walk more than 200 feet, but have our legs just don't qualify. But I hope one day the VA will re-examine and see that others need them just as much. TY for your post, Happy Holidays.

[mbfyouthserv]

03:03 AM on 12/06/2011

We would donate if we were as rich as they are and not the needy

[ursasr]

01:49 AM on 12/06/2011

i thought they were not the real winners

[Big Dude in Texas]

01:37 AM on 12/06/2011

THATS WHAT I WOULD DO

[kndtloeser]

01:35 AM on 12/06/2011

It's a great start. We must continue to support our vets. We still owe those from Korea, Vietnam, and many other places where they served a huge debt of gratitude. Always remember their sacrifices and those of their families and the love they have shown for our country. PS I am not a vet I just love and respect their service.

[vintagedollz]

01:03 AM on 12/06/2011

" spokesman for the Putnam Avenue Family Trust says the donations, announced Sunday, are the first of many they expect to make using lottery winnings they claimed Nov. 28" That was what, like a week ago? They're only a week in and they've already given away a million dollars and you people are complaining? WTH is wrong with you?

[wanagiakicita]

07:01 AM on 12/07/2011

Right on dollz! There are plenty of things they had to get established FIRST before they could announce anything and it looks like they moved ahead pretty quick on things that will help a lot of other people and my fellow vets who need so much!

[vintagedollz]

08:16 PM on 12/07/2011

God bless all of you!

[angieberman]

12:47 AM on 12/06/2011

Less than 1% of the take home, how generous of them. I hope their fund performs so well. What goes around comes around, not!

[vintagedollz]

12:59 AM on 12/06/2011

They've started a charitable trust. That means they will continue to give through that organization. Im sure they will end up giving much more in the years to come. Dont Complain abou them starting out by giving a million dollars! Im sure when the dust settles there will be many more donations being made. Thats alot of money to keep track of, its not like having a personal checking account. You cant just balance numbers like that in a few minutes at the computer. TThere are fees, taxes, taxes and more taxes on that as well to consider besides the bottom line.

[angieberman]

03:15 AM on 12/06/2011

I've read all the press on this and these men are not amatuers and yes there are comuter programs to make compute "bottom line". They are money managers by profession. I'm not discounting the value of 200, 000 for each of these causes. Contributions of that size are hard to come by in this economy. I certainly hope they continue to donate. They each live in a home that costs more than 1 million dollars, I feel they could be more generous in this current economy. They will make 8 - 10% investing this money each year. I would have been more generous initially. That was my only point. Sounds like a lot to us, but it's not to them.

[independentvoter007]

01:17 AM on 12/06/2011

you are a sad, bitter person

[angieberman]

03:19 AM on 12/06/2011

wow, that's a lot of judgement my friend on one post comment. i look forward to monitoring your brilliant and insightful posts in the future. You are the first person to ever say something like that to me. So either you're incorrect or you know more about me than everyone else:) Have a wonderful evening

[KadyFox]

12:30 AM on 12/06/2011

Hurray for them and the good example that they are setting! I'm sure a zillion people are going to show up with a sob story and look for a hand out. I hope that they have a strict vetting process for those charities! Keep the unworthy/fake ones out and the good charities will get more money to help more people.
For those who can't afford to give money, you can volunteer your time. BTW, blood banks also need help this time of year. 3% of the population donates the blood for 100% of the people who need it. We could really use even one donation a year, from all eligible donors. Just sayin'...Holiday spirit and all...

[UrbanAnna]

12:01 AM on 12/06/2011

They are better men than me. I would have kept every, single cent of my winnings.

[vintagedollz]

12:51 AM on 12/06/2011

Really? What would you do with that much? Its more than 100 people need for a very nice lifetime. I can think of nothing more awesome than to be able to just give away money to whoever needs it. God Bless Them! I already have all my charities picked out for when I win! Of course I have for quite some time now, But if it were to happen Id be ready!

[wanagiakicita]

07:07 AM on 12/07/2011

Well, at least you admit it, that's more than most would do.

[linda142A]

11:51 PM on 12/05/2011

Hey my car has been in my garage for the last six months now. Can you send me a few thousand to pay for an engine rebuild?

[crgjh4]

11:39 PM on 12/05/2011

Sorry, but FU@# these three guys!!!!

[peeowedaboutit2]

11:41 PM on 12/05/2011

Well, thanks for admitting you're Sorry.

[wanagiakicita]

07:08 AM on 12/07/2011

Yeah you are a sorry S*B.

[peeowedaboutit2]

11:31 PM on 12/05/2011

I'm so glad to see there are so many veterans here on this thread. I'm very sorry for those of you who are mad and I can certainly understand why, but most of all, I'm glad.
I'm glad because just reading your angry-azzed posts lets me know you made it back alive. I'm so glad and I want to say... Thank you very much for your service commitment and sacrifice. I love you more than you will ever know.
Thank you for your unselfish courage and bravery to help ensure my sons and daughters can still grow up reasonably safe and most importantly, free. If I ever get the incling that their appreciatiion is diminishing, I will personally kick their appreciation back into line!
I will say though, you are like my cantancerous old grandpa who hated everything, but was always glad to see me. He was NEVER happy unless he was bitching. I always understood, though... just like I do now.
:-)

[wanagiakicita]

07:14 AM on 12/07/2011

I don't think there are ANY "REAL" VETS here that are upset that these guys won and are setting up a charity for other vets. As a 20 year USMC vet I'm as happy as a clam and wish more lottery winners would do something like this instead of gambling, buying a million things they'll never use, drugging it up and in the end being just plain broke. That is what the usual outcome it. Thanks to these three guys many vets will have some badly needed help! OOO-RAH!

[lgtaper]

11:08 PM on 12/05/2011

Merry Christmas to these great people. : )