By Stephanie Reitz, Associated Press

HARTFORD, Conn. (AP) — A trio of money managers who shared a $254 million Powerball jackpot said Sunday they were kicking off the first of many charitable donations by splitting a $1 million gift among five veterans’ service organizations.

The Putnam Avenue Family Trust announced through a spokesman that donations of $200,000 each were being given to the five groups for their work helping veterans and military members who have recently returned from deployments.

The trust was created by Greenwich wealth fund managers Greg Skidmore, Brandon Lacoff and Tim Davidson after they learned they had won the jackpot, which they claimed Nov. 28 at Connecticut Lottery headquarters. The jackpot was the largest won in Connecticut and the 12th biggest in Powerball history.

Thomas Gladstone, who identified himself as the landlord for the men’s company, said afterward that Lacoff told him they were representing a fourth person who didn’t want his identity disclosed, but the men’s lawyer and a spokesman for their Putnam Avenue Family Trust have said the speculation is false and there is no fourth winner.

They promised at the time they claimed the jackpot that they would kick off their charitable donations with $1 million within 10 days and said in a statement Sunday that they “cannot think of a more urgent priority than addressing the needs of those men and women who have defended our nation.”

“Many of these veterans are faced with a myriad of real and immediate personal issues that range from trauma to foreclosures. These grant awards reflect the beginning of a process that allows us to leverage lottery winnings into materially helping our society,” Lacoff, Skidmore and Davidson said in a statement Sunday.

Their trust took in a $103.5 million lump sum after taxes. The men have said they hope the trust’s charitable donations will become an example for other lottery winners nationwide.

The groups receiving $200,000 each are The Bob Woodruff Foundation, based in Bristow, Va.; Building Homes for Heroes, based in Valley Stream, N.Y.; Services for the Under Served (S.U.S.) and the Intrepid Fallen Heroes Fund, both based in New York City; and Operation First Response, based in Culpeper, Va.

Officials from the five organizations said they were surprised and thrilled by the donations, which will help with programs for veterans’ housing, mental health care, treatment and diagnosis of traumatic brain injuries, education and employment training and other services.

Peggy Baker, president of Operation First Response, called the $200,000 donation “a Christmas miracle,” and Andy Pujol, president and founder of Building Homes for Heroes, said they were ecstatic over what they considered “this incredible act of patriotism and generosity.”

Skidmore, Davidson and Lacoff work at the Greenwich wealth management firm Belpointe, which provides investment advice, according to the Securities and Exchange Commission. The company manages $82 million, according to the SEC.

They said after claiming their Powerball winnings, and again in their statement Sunday, that they plan to use their investment expertise to build the jackpot into even more money for charitable gifts.

“If we are successful, we believe the creation of this Trust, and its legacy, will serve as a national model for others who have been equally fortunate in winning sweepstakes and now seek to use those dollars to touch the lives of others,” they wrote.

Copyright 2011 The Associated Press.

Comments (13)
  1. Nosgood4me says:

    Please ….donate in the name of prof Michael Avery suffolk law.

  2. Nosgood4me says:

    Please donate it in the name of prof Michael Avery suffolk law

    1. gramps says:

      What a loser!

      This guy’s a real piece of work…A typical Obama progressive…

      (FOX 25 / – The email may have been brief, but with it Suffolk Law Professor Michael Avery seems to have poured salt into the wounds of quite a few Americans, including some students at his own school.

      In the five-paragraph e-mail to colleagues in response to a school-wide appeal for care packages for deployed soldiers, Avery calls the notion of sending packages “shameful”.

      “I think it is shameful that it is perceived as legitimate to solicit in an academic institution for support for men and women who have gone overseas to kill other human beings” wrote Avery.


      1. Nosgood4me says:

        gramps .. No argument at all ,, you have it correct.

      2. Nosgood4me says:

        I agree .

  3. Nancy W. says:

    It confirms my belief in the generosity and kindness of people. What a great example of giving from those who have the means to step up, and do it!

  4. gramps says:

    1%’ers, passing it on & showing the way, again.

    Well done!


  5. respectful_dissenter says:

    Well this makes them complicit in the illegal and unjust war against Islam. The money should go to the millions of muslim victims of Zionist genocide.

    1. gramps says:


      Islamic Economics and Shariah Law: A Plan for World Domination

      By David J. Jonsson

      My goal today is to put you into the mind of an Islamist — to think like an Islamist. It is only possible to understand the events occurring by understanding their thinking and what it would mean to live under Shariah law.

      There is a well-worn Cliché “It’s the economy stupid” that appears around election times. So it is with Islamic Economics and the Clash of Ideologies we are witnessing today.

      Jihad is considered a required religious duty for Muslims. Jihad is Islam’s normal path to expansion.

      There is no question that many Muslims whether they are Summi or Shiite decry terrorism and are loyal Americans; however, most Muslims subscribe to the Muslim total “way of life” and desire to have the whole world under Islamic rule and the will of Allah. Combining a “way of life” into an economic system is proving to be more powerful than any other in having a global impact and spreading Islam on a global basis.

      You treat your goats better than you treat your ‘women’.


  6. web says:

    I think it’s wonderful that they set up this trust. How great that they will be sharing their winnings, in a (seemingly) thought out process. Congratulations and thanks!

    1. tsal says:

      nicely said web and I agree

  7. Pc says:

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