Posted: Dec 4, 2011 12:55 PM by Matt Stafford
GREENWICH, Conn. (AP) - 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.