Frugal Man's Surprising $38 Million Gift to Small New Hampshire Town
A humble man's surprising $38 million posthumous donation to a tight-knit New Hampshire town of under 4,000 residents, leaving an indelible mark on their community A truly transformative gift!
After living frugally his entire life, a man unexpectedly left a gift of $3.8 million to his small New Hampshire town with less than 4,000 residents. Geoffrey Holt, who passed away on June 6, left his fortune to the town of Hinsdale, as reported by his best friend, Edwin "Smokey" Smith. Holt, who moved to New Hampshire in 1968, relied on social security checks for the last 15 years of his life.
Holt lived in a trailer park in the town, and the kitchen chairs in his mobile home were made of plywood, Smith said.
"Geoffrey lived very simply. And he didnt require a lot," said Smith.
The nearly $4 million gift came from a trust fund Holt established in 2001, primarily made in mutual funds accounts, according to Smith.
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The town of Hinsdale, New Hampshire
Robert F. Bukaty/AP
"There was no need for probate because he had everything arranged in a trust," Smith explained. "Geoffrey served as the initial trustee, and when he passed away, I took over as the successor trustee."
"During his youth, his parents sent him to boarding school against his wishes," Smith mentioned, highlighting Holt's desire to attend public school.
A transformational gift for a small community
The New Hampshire Charitable Foundation has been named as the beneficiary of Holt's fortune, as confirmed by the towns administrator, Kathryn Lynch. Each year, members of the town, including schools and local organizations, have the opportunity to apply for grants of up to $150,000, Lynch explained.
The town is exploring different options for using the funds from the recent donation. This may include purchasing an electronic voting machine and repairing the malfunctioning town hall clock. "Our first priority is to invest in electronic ballots in honor of Mr. Holt, who was a dedicated voter. Currently, our Supervisors of the Checklist manually count ballots during elections," Lynch stated.
According to CNN, Kristen Oliveri, a spokesperson for the New Hampshire Charitable Foundation, expressed that Holts' generous donation has the potential to create a transformational impact on a small community like Hinsdale. The funds will be allocated to support various projects, programs, and organizations that offer health, educational, recreational, and cultural benefits to the residents of Hinsdale.
"We are grateful for the opportunity to put this generosity into action, and we are eager to continue distributing these funds in the future," she expressed.
Smith emphasized that his friend would be pleased to know his gift is being appreciated and recognized, but also stressed that Holt would feel anxious about being in the "limelight."
"He didnt like to be in the front of the crowd," Smith said. "He liked to be in the back. And not just as a follower. He did his own thingâ¦"
