Geoffrey Holt (philanthropist)

Geoffrey Holt
Geoffrey Holt aboard his riding mower in 2020
Born(1941-03-27)March 27, 1941
Indianapolis, Indiana, US
DiedJune 6, 2023(2023-06-06) (aged 82)
Keene, New Hampshire, US
Education
Occupations
Known forBequeathing US$3.8 million to Hinsdale, New Hampshire

Geoffrey Holt ((1941-03-27)March 27, 1941 – (2023-06-06)June 6, 2023) was an American groundskeeper, miller, factory worker, and town eccentric. He gifted US$3.8 million to his town of Hinsdale, New Hampshire, upon his death.

Holt's wealth was unknown to his neighbors. His fortune came from investing a payout from a grain mill, where he was a production manager. Later in life he worked as a groundskeeper in a mobile home park where he resided, choosing to navigate town aboard a lawn mower rather than using a car.

Early life

Born on March 27, 1941, in Indianapolis to Lee and Margaret Holt (nee Goddard), Geoffrey Holt grew up in Springfield, Massachusetts. According to his sister, Holt faced challenges due to dyslexia during his strict upbringing.[1][2] Their father was "weird about money", said Holt's sister, and did not approve of small expenses, like the bouquet she once got for her mom.[3]

After graduating from the George School, a Quaker rural boarding school in Pennsylvania, in 1959 and earning a bachelor's degree from Marlboro College in Vermont in 1963, Holt served in the United States Navy. In 1968 he received a Master of Arts degree from American International College in Springfield, Massachusetts, where his father worked as an English literature professor. [2][1]

Career and investments

Holt taught social studies and drivers' education at Thayer High School in Winchester, New Hampshire, before joining the Agway grain mill, where he eventually became a production manager.[1][2]

While living in Hinsdale and working at the Agway mill in nearby Brattleboro, Vermont, he led a frugal lifestyle, commuting to work on a bicycle after selling his car. He undertook extensive trips "with a 12-pack of beer strapped to the bike", covering roundtrip distances up to 140 miles (230 km) along the Connecticut River to White River Junction, Vermont. He also biked to Amherst, Massachusetts, where his parents lived.[1][4] In the 1980s, the Agway mill closed and Holt received a cash settlement which he invested in stocks and mutual funds.[4]

Post-mill closure, Holt engaged in various odd jobs around town and later worked as a groundskeeper at a mobile home park where he lived. He shared his residence in the park with his longtime partner, Thelma Parker, who died in 2017.[4] He was a dedicated hobbyist who collected well over 1,000 die-cast model cars, dozens of model railroad layouts, and many records and history books, with a particular focus on Henry Ford and World War II.[2][4][5] Otherwise, his house was largely empty and did not have a television or internet. Locals knew him as quiet and unassuming, wearing old clothes and riding a lawn mower for errands instead of a car.[6][7]

Holt's financial success remained largely unknown to others because he continued to live frugally, relying on social security checks for sustenance in his final 15 years.[2][8]

Later life and death

Around 2000, Holt confided to his best friend, former employer and a former Republican N.H. state lawmaker Edwin "Smokey" Smith that his investments were doing better than he had ever expected and he was not sure what to do with the money. Smith, unaware of the amount of wealth Holt had amassed, joked with Holt about leaving his fortune to the town.[1][2][9] In 2001, Holt approached the New Hampshire Charitable Foundation and reached an agreement for the nonprofit to distribute the funds after his death.[10]

In September 2021, Holt suffered a stroke, necessitating a move to an assisted living facility and eventually full-time nursing care. He died on June 6, 2023, naming Smith executor of his estate and bequeathing US$3.8 million to his town of Hinsdale to be used for health, education, culture or recreation. The town and community organizations can access approximately $150,000 annually from the endowment's interest by applying for grants through the foundation.[4][2][11]

Legacy

A NewsNation reporter called the story of Holt's gift, broken nationally around Thanksgiving, "one of the best holiday stories."[11]

Holt's gift inspired discussions about other low-profile individuals who left fortunes to their communities[12] and how these communities are using the unexpected windfall. For example, Francis "Rudy" Gelnett left the bulk of his estate—US$5.8 million—to his borough of Selinsgrove, Pennsylvania, (population c. 5,000) when he died in 2010. As of 2023, the Rudy Gelnett trust (valued at c. US$5.5 million) supported the Gelnett Memorial Library, Dauntless Hook & Ladder Fire Co., and the public swimming pool.[13] Another secret millionaire, Ronald Read, a janitor and gas station attendant, left US$6 million of his $8 million fortune to his town's hospital and library in Brattleboro, Vermont, (7 miles (11 km) away from Hinsdale) when he died at 92 in 2014. Like Holt, he quietly built his wealth through savvy investing and living modestly, a fact unbeknownst to even his closest friends.[14]

As of the end of November 2023, Hinsdale residents had been sharing ideas online about how to spend Holt's money, with the most popular suggestion being to reduce the tax base.[13]

See also

References

  1. ^ a b c d e Audette, Bob (October 20, 2023). "Holt leaves millions to town of Hinsdale". Brattleboro Reformer. Archived from the original on November 23, 2023. Retrieved November 23, 2023.
  2. ^ a b c d e f g McCormack, Kathy; Bukathy, Robert F. (November 21, 2023). "New Hampshire man had no car and no furniture, but died with a big secret, leaving his town millions". Associated Press. Archived from the original on November 22, 2023. Retrieved November 23, 2023.
  3. ^ Gosch, Anita (December 3, 2023). "Laguna Woods resident shares memories of brother who surprised town with $4M inheritance". The Orange County Register. MediaNews Group. Archived from the original on December 5, 2023. Retrieved December 5, 2023.
  4. ^ a b c d e Martin, Saleen (November 22, 2023). "A New Hampshire man secretly invested his money and died with $3.8M. He left it all to his town". USA Today. Archived from the original on November 22, 2023. Retrieved November 23, 2023.
  5. ^ Wu, Daniel (November 23, 2023). "He lived a quiet life — then donated $3.8 million to his small N.H. town". The Washington Post. Archived from the original on November 23, 2023. Retrieved November 24, 2023.
  6. ^ Timothy H.J., Nerozzi (November 21, 2023). "New Hampshire man dies a secret multimillionaire, leaves $3.8M to his small town". Fox News. Archived from the original on November 23, 2023. Retrieved November 23, 2023.
  7. ^ Corbley, Andy (November 23, 2023). "New Hampshire Man Had No Car and No Furniture, But Died with a Big Secret, Leaving His Town Millions". Good News Network. Archived from the original on November 29, 2023. Retrieved November 29, 2023.
  8. ^ Watson, Michelle; Harris, Skylar (November 21, 2023). "Man who lived frugally leaves unexpected gift of $3.8 million to small New Hampshire town after death". CNN. Archived from the original on November 23, 2023. Retrieved November 23, 2023.
  9. ^ O'Neill, Jesse (November 21, 2023). "Secret, mobile home multi-millionaire who drove lawnmower leaves fortune to small town". New York Post. Archived from the original on November 25, 2023. Retrieved November 25, 2023.
  10. ^ Deb, Sopan (November 23, 2023). "He Lived a Frugal Life. Then He Left Millions to His New Hampshire Town". The New York Times. Archived from the original on November 24, 2023. Retrieved November 24, 2023.
  11. ^ a b "Man had no car, no furniture, but died leaving his town millions. Morning in America". NewsNation. November 24, 2023. Archived from the original on November 27, 2023. Retrieved November 27, 2023. Edwin "Smokey" Smith, Holt's best friend and former employer, joined "Morning in America" to talk about his legacy.
  12. ^ Kissell, Chris (December 6, 2023). "6 Secret Millionaires Who Left It All to Charity". Money Talks News. Archived from the original on December 8, 2023. Retrieved December 8, 2023.
  13. ^ a b Moore, Marcia (December 2, 2023). "Selinsgrove officials offer advice to N.H. town bequeathed $3.8 million by former resident". Cleburne Times-Review. Archived from the original on December 5, 2023. Retrieved December 5, 2023.
  14. ^ Winters, Mike (December 2, 2023). "Trailer park caretaker surprises his hometown with a gift of $3.8 million, years after another secret millionaire did the same nearby". CNBC Make It. CNBC. Archived from the original on December 5, 2023. Retrieved December 5, 2023.