As I revealed last week, Jason Hero won the lottery—the grand prize of three hundred million dollars—without buying a lottery ticket. Jason never received the full three hundred million dollars. He took the bulk payment option, which was roughly half the promised figure (which would have been paid out over twenty years had he favored the other option), and about half of that prize was claimed by federal and state income taxes. Jason was left, then, with seventy-five million dollars, which is still a lot of money.
Jason chose to tithe, to give one tenth of his winnings to the Church and to various charities. Some congregations are so firmly opposed to gambling in any form that they would have refused his gift. Others would say that he should have tithed from the pre-tax amount. But Jason decided that he would divide his tithe among seventy-five recipients, giving each of them one hundred thousand dollars. He figured that was a large enough gift to do some good in seventy-five different places, but not so much that it would be harmful. Jason had heard of congregations that had been torn apart by arguments about how to spend a large gift. He did not want to cause any such disputes.
Jason chose several congregations that he had attended over the years, and a couple of congregations that were led by friends of his. He also sent some gifts directly to the denominational office, designated for foreign missions and for charitable organizations. He gave gifts to secular charities, including the American Red Cross. He gave gifts to the local public radio station and to the local public television station. Jason donated money to the zoo, to the symphony orchestra, to the ballet company, to the community theater, to the art museum, to the county’s historical museum, and to the hospital. He sent checks to the schools where he had earned his bachelor’s degree and his master’s degree.
After distributing his tithe, Jason began investing in his own future. He set up an account that would pay him one thousand dollars a week for the next fifty years, using up $2,500,000 of his winnings. He then took another five million dollars and set up accounts for his ten children, nieces, and nephews. The accounts were trusts to fund their higher education. Until they turned twenty-five, they could spend the money only on tuition, other academic fees, room and board, and normal living expenses such as a car, maintenance of the car, and clothing. Those who had already attended college could use the money to pay off student loans and, if they chose, to pursue additional degrees. Once they turned twenty-five, they were allowed to do whatever they wanted with the remaining money in their trusts. Jason knew that half a million dollars would not be enough for any of them to drop out of life and do nothing useful for the rest of their years. He hoped that the college educations they received would grant them fuller lives that would also benefit the people around them.
After all these sensible plans, Jason still had sixty million dollars to spend in other ways. Some of those will follow in future posts. J.