Tyrone Boucher
Where The Money Came From (and some history)
My dad set up a trust fund for me when I was young, with stock from a software company he started. The company ended up making lots of money, and my trust fund grew to about $400,000. When I turned 25 (last year), the option opened up for the trustees to begin transferring the money into my control.
Because of my involvement in economic justice organizing, I’d already had lots of conversations about class, inheritance, and giving with my father by the time I started to get the money. He agreed to arrange for $200,000 to be transferred into a brokerage account that I controlled. I used some of the money to pay him back for my expenses he’d paid for in the past (like school), and put most of the rest of it into my giving plan.
Dealing with this money has been an ongoing process of talking with my family, understanding kind-of-complicated financial and tax stuff, making compromises (mostly about moving more slowly than I’d like), and getting clear on my own motivations and vision. I’m planning to give away 50-60% of the money from my trust fund by 2010, and most of the rest of it later, as I get access to it.
Continue reading “What I Gave and Where I Gave It: 2008 Giving Plan”