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Lottery winner donates apartment complex to help families in crisis

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I remember watching this guy on the TV show, he is a truly awesome and amazing person. 

What a great man.

steph219121's avatar - Lottery-029.jpg

We need more people like this man to win!

Littleoldlady's avatar - basket

That is what I call a REAL donation.  I wonder what 200.00 below market value equates to there?   In my county  the "fair housing market value" is around 600 per month.  I see why folks are without a place to stay. 

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A big THANK YOU to Mr. Smith for showing people how to do a lottery win right. God bless.

Mr-Smith's avatar - Lottery-057.jpg
In response to Piaceri

Your welcome..... lol...Jester Laugh

 

Not me but I had to do it........lol

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great way to help others with lottery winnings. i just hope his money gets to where it needs to be and not all in the pockets of greedy people

Cletu$2's avatar - Lottery-050.jpg

Helping the needy,but not the greedy is what winning a lottery should be all about.Way to go Mr.Smith.

rdgrnr's avatar - nw barkeep.jpg

There are still some good people in this country.

God Bless Randy Smith.

surimaribo24's avatar - photo11 zpsfffd70be.jpg

heads off for mr smith.

god bless .

CDanaT's avatar - Nolz june15.jpg

Finally, a great example of a person who won a large amount of money with the common sense to manage it. Constantly giving back and still maintaining a professional demeanor in doing so.....Thanks Randy....I hope to follow your lead within the year.

dr65's avatar - black panther.jpg

I think what initially drove Smith to donate his family home and especially his 24 unit complex to charity became transformed into something

more property management company friendly.

His main intentions were excellent and I applaud his kind hearted contribution, I'm sure he will continue in that direction.

What bothered me about the article was the fact that 20 of the 24 units are being rented at $200 below market value. The need for emergency

housing due to 'illness, loss of employment and other misfortunes' isn't remedied by a reduction of $200 off the going rate. The reasons for need

- no job, home destroyed by fire, illness, etc - are devasting to most both emotionally and financially. For most, I'm sure there is no money left

to see any benefit in what the ~good people~ at Phenix Group LLC and the United Way's housing program felt was a good thing for those in need.

The rental income, generating a net of $30,000 a year after expenses, is the true bottom line. It's an ongoing cycle. It's depressing when good

intentions are tarnished by too many cooks spoiling the stew.

dpoly1's avatar - driver

Thank you Mr. Smith!
This is how charitable work was done before Wilson's income tax was passed into law.
Don't tell me to "prove it", do your own research!
Mr. Smith went public with his generosity. Many of the "evil 1%"  do this sort of thing, but do not go public.
I wish that the Grammar School whiners would get some maturity & not cry about the wealthy!

dallascowboyfan's avatar - chi

WTG Mr. Smith.......Hurray!

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We need more MR. Smiths in this world, whether or not as winners of Lottery winners or people that came into money through their family inheirtance. It's a shame though that, Lottery winners can't take advantage of the Loop-holes the filthy rich do, so they don't have to pay all the taxes the Lottery winners have to pay. Look at Mr Smith he  won $79 million and after taxes he ended up with $49 million, that's  $30 million in taxes they took off, heck Mitt Romney doesn't pay that much taxes on all the millions he makes because of the loop holes he's entitled to, in the millionaire club. But if you win several million dollars you don't fit into that club so that rake you over the coals. Go figure.

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hearsetrax's avatar - dbf9afa3cf5f7402577dd638c8fd78e2 r=pg&f=y&s=128&d=robohash
In response to gogidolim

lol  ...........Type..........shoot them all..... both republicans and democrats and let the all mighty sort them out

Halle99's avatar - Lottery-043.jpg

GOD bless Mr. Randy Smith. 

What a wonderful man.Party

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Ditto

sully16's avatar - sharan

Very nice Mr. Smith.

Jill34786's avatar - Lottery-006.jpg

God bless Mr. Smith! It is so refreshing to see someone make such an impact on  their community.

What makes it even more amazing is that this gentleman received far less than the $44 million the media had claimed he took home after taxes. The facts are the jackpot from the August 21, 2010 drawing was worth $80 million with 43.5 million being the lump sum cash value. After taxes, Mr .Smith received a wire for a tad more than $29.7 million.

Donations like this is what helps mitigate the additional Federal taxes that would otherwise be given to the Government to squander away.

Jill34786's avatar - Lottery-006.jpg
In response to LottoLin

You are comparing capital gains (investments held for at least a year) to ordinary income. There are many "filthy rich" individuals who pay the regular income tax rate and not cap gains. The media wants everyone to think that all millionaires pay a reduced rate which is completely false.

On a side note, the article was made to glorify/exaggerate Mr. Smith's overall take home pay. The cash value was 43.5 million and after Fed and WV taxes, he received a little more than 29.7 million and not the $44 million the media had claimed.

What's even more insane is that there are individuals out there (not LP members) that believe Mr. Smith actually took home $79-80 million because the oversize check said so...their uninformed minds forgot about a little thing called taxes Bash

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In response to dr65

 My sentiments exactly...

mylollipop's avatar - Trek STLOGO6.png
In response to steph219121

So true!  He is genuine and sincere.  He did not lie about what he was going to do with his money, he just did it! GOd bles him for helping out those in need.  He did not have to do it, but he chose to.  He will be blessed many times over and over. "He who is kind to the poor lends to the LORD, and he will reward him for what he has done." Proverbs 19:17

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