Elmer T. Lee
Elmer T. Lee was an icon in the bourbon-making business, having led the industry as a master distiller. The Buffalo Trace distillery where he oversaw operations allowed him to craft his own “Elmer T. Lee” brand of bourbon. For many people, that would be legacy enough.
But not for Mr. Lee. As a longtime member of First Christian Church in Frankfort, KY, he wanted his love for the church to extend beyond his lifetime.Mr. Lee learned about a charitable gift annuity while attending a Foundation-led seminar. It would provide him a fixed stream of payments for life; more importantly, though, the charitable remainder would create a permanent fund at the Foundation that would provide annual income distributions to First Christian’s ministry.
“When he completed the charitable gift annuity with the Foundation, Mr. Lee felt this was something he could do to benefit the future generations who would be part of First Christian’s community,” said the Rev. Randy Johnson, Foundation vice president who helped Mr. Lee with the gift. “When he died at age 93 in 2013, his gift plan came to fruition. The Elmer T. Lee Permanent Fund now provides an annual gift to First Christian Church that supports the church’s vital ministries and will continue to do so in perpetuity.”
The Foundation manages nearly 600 charitable gift annuities, ranging from $2,500 to over $500,000. In 2013, donors contributed $556,000 for new charitable gift annuity contracts. The fixed stream of payments provides peace of mind to individuals, especially in retirement years.