Gillespie Estate Forms $100 Million Trust for CT Nonprofits

Big news for Connecticut nonprofits: the estate of Stamford residents Kingsley Gillespie and his son, Kenyon Gillespie, announced on April 1st of this year that they have founded a charitable trust worth $100 million that will be distributed among a number of non-profit organizations in the region. This initiative is in keeping with a history of the Gillespies investing time and money into their community; Kingsley was the publisher of two Connecticut newspapers, The Advocate and Greenwich Times, as well as the owner of a Stamford radio station, WSTC-AM. He was also a founding trustee and the VP of the Stamford Hospital Foundation. His son, Kenyon, worked as a private investor, managing the inheritance he received from his father with the express intention of offering financial support to the charities his father was passionate about, until his death in March of this year. So, then, it’s only fitting that the Gillespies’ legacy will continue to be one of giving back.

The first gift made on behalf of the Gillespie trust was a truly impressive donation to Stamford Hospital in the amount of $50 million – the largest single donation the hospital has received in its 120 years of existence. This money will surely go to great use, as Stamford Hospital has always been, and continues to be, an institution that embraces innovation at every possible turn. For example, the fact that Stamford Hospital is the only healthcare provider in Connecticut to have implemented the EndoChoice Full Spectrum Endoscopy System, or FUSE, a new colonoscopy system that has three cameras, instead of the usual one. This system is a vast improvement on the systems of the past, as tripling the number of cameras allows doctors to view a 330 degree image, as opposed to the traditional 170 degrees, thereby making it easier to identify problems that would likely have gone undetected in the past. The fact that Stamford Hospital is such an early adopter of this exciting new technology speaks volumes about the institution’s dedication to innovation, making it a worthy recipient of the Gillespies’ generous gift.

Other Connecticut-based nonprofit organizations that have been named as beneficiaries of the Gillespie trust include The Rotary Club of Stamford and The First Presbyterian Church of Stamford, both of which will receive 10 percent of the income earned by the trust on an annual basis.