Amazing Assets: The Impact of One Transformational Gift

Posted by National Association of Charitable Gift Planners on Feb 4, 2015 10:59:05 AM

Guy David Gundlach traveled the world, but his heart was in Elkhart County, Indiana. When he died suddenly in 2011, at the young age of 56, his plans were in order, and they directed nearly all of his $125 million estate as an unrestricted gift to the Elkhart County Community Foundation.

According to the Chronicle of Philantrhopy, Mr. Gundlach was not involved with the foundation during most of his lifetime. He came to know about its work through a high school friend who once served on the board. He included the foundation in his will in 2009, and before his death in 2011, he donated $100,000 to the organization.

The estate included truly amazing assets--11 luxury homes around the world; 15 Luxury Home automobiles, including a Ferrari, Rolls Royce, two Bentleys and a Porsche; a collection of artwork, including works from Picasso, Dali, Renoir, Miro, Chagall, and Yuroz; and royalty rights to a movie Gundlach produced in 2010 entitled “Get Low” starring Robert Duvall, Bill Murray and Sissy Spacek. A team of attorneys, accountants, property managers and administrators worked for more than a year to settle the estate. The gift will allow ECCF to incrementally increase its grant budget from $600,000 to $8 million between 2012 and 2016.

To learn more about the foundation’s process for absorbing the impact of this transformational gift, with lessons for planned giving officers, click here.  Click here to read more about Mr. Gundlach’s life.

PPP celebrates great planned gifts that are funded by donors' noncash assets--collections, real estate, art, preservation easements and much more. Click here to see a collection of amazing noncash gifts.

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Topics: philanthropy, donors, planned giving, General