Gillespie Family Creates $100 Million Trust for Stamford Organizations

Gillespie Family Creates $100 Million Trust for Stamford Organizations

, the , and the have announced that they are among the beneficiaries of a $100 million gift from the estates of Kingsley Alexander Gillespie, publisher of The Advocate and Greenwich Time newspapers, and his son, Kenyon Gillespie.

The gift from the Gillespies will establish a charitable trust benefiting Stamford Hospital, which will receive 50 percent of the income from the trust, and the Rotary Club and First Presbyterian, which will each receive 10 percent. Annual income generated by the trust is expected to be about $2.5 million for the hospital and $500,000 each for the Rotary Club and First Presbyterian, the reports. The other beneficiaries of the trust are on Long Island, the , and the .

Kingsley Gillespie, who died in 1984, was a former trustee of Stamford Hospital, a founding member and former president of the Rotary Club, and a member of the First Presbyterian congregation for seventy years. While the beneficiaries were aware that he had set aside $20 million for a charitable trust, the Stamford Advocate reports, they only learned after Kenyon Gillespie's death in 2015 that Kenyon, a private investor, had added $80 million to the trust.

"The congregation of First Presbyterian Church is humbled by the Gillespie family's gift," said David Van Dyke, pastor of the church. "The Gillespies have been a part FPC for more than a century. They helped imagine and build the Fish Church. We are blessed to be entrusted with continuing their stewardship of God's gifts."

"Gillespie Estate Creates $100 Million Trust to Benefit Stamford Hospital, the Rotary Club of Stamford, the First Presbyterian Church of Stamford, Others." Stamford Hospital, Rotary Club of Stamford, First Presbyterian Church of Stamford Press Release 03/30/2016. "." Stamford Advocate 03/30/2016.