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$40 Million Canada Lottery Philanthropist
December 19, 2013 4:42 PM   Subscribe

The Tom Baker Cancer Centre is the first recipient of winnings from the Calgary lottery player who won $40 million and pledged to give it all away. Is writing cheques the best solution to his problem or would setting up some trusts be better?
posted by PixelPiper (18 comments total) 5 users marked this as a favorite

 
"It's the end, but the moment has been prepared for."
posted by Sphinx at 4:55 PM on December 19, 2013 [3 favorites]


If someone wants to give away $40m they can do it however they please.
posted by ThatCanadianGirl at 5:17 PM on December 19, 2013 [6 favorites]


Hey, we don't have that subscription service in the US, do we? I sometimes think about buying lottery tickets, but I just find the whole business of checking the numbers to be either too much trouble or kind of embarrassing.
posted by janey47 at 5:22 PM on December 19, 2013


Who knows? Who, nose [taps nose]
posted by Renoroc at 5:27 PM on December 19, 2013 [3 favorites]


I read elsewhere that Mr. Crist, after donating to the cancer center, does indeed intend to set up a charitable trust with the rest.
Meanwhile over in British Columbia the aptly-named pot activist Bob Erb is busy giving away much of his $25 million lottery win, cheque by cheque.
I think they're both extremely admirable.
posted by islander at 5:28 PM on December 19, 2013


Mr. Crist giving away his worldly fortune to charity and Mr. Erb is a pot activist? Y'all are just fucking with me now right?
posted by no regrets, coyote at 5:37 PM on December 19, 2013 [16 favorites]


Yeah, and Deepak Chopra is letting his concern for the health of Canada's seniors guide every decision he makes as he runs Canada Post into the ground.

Mr. Crist of Calgary is a good person doing good things.
posted by maudlin at 6:00 PM on December 19, 2013 [1 favorite]


I was just arguing about this with a coworker yesterday when we were discussing what we'd do with the Mega Millions that we didn't win. He said a Trust. I say just give it away. Basically no one needs that much money, but most people could probably use a little bit of extra money. Say you win $400 million in Mega Millions and you want to give $25,000 to everyone you know. For a lot of (most?) people, $25,000 (as a lump sum) is a life-changing amount of money. You could give $25k to 16,000 people. I don't even know that many people. So I could increase it to $50k and give it to 8000 people. A majority of these recipients probably aren't eligible for any kind of charity and likely don't need it or even want it. But they might be kind of squeezed financially here or there and it might make a big difference to that person if it means they could pay off some of their debt or a buy a decent car or take their family on a vacation, or whatever.

I've thought about this quite a bit. So Metafilter, when I win the Mega Millions, you're all getting a chunk of it.
posted by triggerfinger at 6:10 PM on December 19, 2013 [5 favorites]


No good deed goes unscrutinized
posted by Dr. Twist at 6:14 PM on December 19, 2013 [2 favorites]


Mr. Crist giving away his worldly fortune to charity and Mr. Erb is a pot activist? Y'all are just fucking with me now right?

Welcome to my world. Our auditor is Mr. Bean and our assessor is Mr. Levy
posted by Reasonably Everything Happens at 6:35 PM on December 19, 2013 [1 favorite]


Yeah, and Deepak Chopra is letting his concern for the health of Canada's seniors guide every decision he makes as he runs Canada Post into the ground.

As long as it keeps him too busy to write those godawful books of his. Oh, wait.
posted by anothermug at 8:32 PM on December 19, 2013 [1 favorite]


So Metafilter, when I win the Mega Millions, you're all getting a chunk of it.

In my lotto fantasies I pay mathowie double whatever the annual income is from new accounts* and he closes sign-ups for a year so I don't have to get used to new people.

*I know, the $5 n00bs aren't that much of a cash cow, but it's my Lotto fantasy, dammit. triggerfinger's is much less prickier than mine, and could lead to some cash for me, so I'll root for them, too.
posted by Alvy Ampersand at 9:00 PM on December 19, 2013


Well uh, that's not how I'd spend every last penny of the money...
posted by oceanjesse at 9:30 PM on December 19, 2013


So I could increase it to $50k and give it to 8000 people

if you're single, you'd have to pay about $113 million in gift tax to the IRS for those gifts.
posted by jpe at 9:32 PM on December 19, 2013


and you'd have to pay 43%-ish of the total in income tax, so I guess you have to cut all your numbers in half roughly.
posted by jpe at 9:40 PM on December 19, 2013


Did you know there's no tax on lottery or gaming winnings in Canada? No tax on gifts, either. And if you have room in your TFSA, you can put up to $25,500 of your windfall in your account as of 2013 and not get charged tax on any interest earned.

So if any of us win big and share big, no one gets dinged badly for it.

We do health care, lotteries and cash gifts right up here. Mail? Not so much.
posted by maudlin at 9:45 PM on December 19, 2013 [2 favorites]


Comments on the cbc article are, uh, a mixed bag (as usual?):

From a fellow who thinks the money should go at the root cause of cancer, rather than just treatment and cure:

Would he be willing to sponsor my Geoengineering / chemtrails lawsuit?

Do you have his coordinates? If so I would appreciate it if you could ask him to visit my site: http://www.geoengineeringlawsuit.ca

Chemtrails can cause cancer, Asthma, Alzheimer, Upper respiratory illnesses...

I am fighting for all of us, for our people and for our planet. I would appreciate your help please.

posted by bumpkin at 8:12 AM on December 20, 2013


GAAAH CHEMTRAILS
posted by grubi at 8:15 AM on December 20, 2013


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