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Lottery winners donate to local charity

The Community Foundation of the Rappahannock River Region has received the largest donation in its 16-year history, thanks in large part to the lottery.

Dave and Nancy Honeywell, a Stafford County couple who last month claimed the winning $217 million Powerball jackpot ticket, recently made a $4 million gift to the foundation, which provides funds for a large variety of local organizations and students.

The Honeywells’ gift brings the foundation’s assets up to about $15 million, a 36.4 percent increase.

The foundation’s largest previous gift came in 2010, when a trust that Duff McDuff Green Jr. set up late in his life donated about $2.3 million.

The Honeywells’ gift will be established as a donor-advised fund, giving the couple oversight over how the money will be used.

The Honeywells took a one-time cash option of $136.4 million before taxes instead of taking the full amount over 30 years. After withholding taxes, they netted $96 million, according to the community foundation.

They chose to give the money to the foundation so it could be invested while they continue to analyze the best uses for the money.

Dave Honeywell, 53, purchased the $10 Powerball ticket at the Richmond airport on his way to Denver on a business trip. He matched all six numbers in the Feb. 6 Powerball drawing.

The Honeywells both have been working for the Department of Defense and have lived in the Fredericksburg area for about seven years.

Bill Freehling: 540/374-5405

bfreehling@freelancestar.com

Permalink: http://news.fredericksburg.com/newsdesk/2013/03/06/lottery-winners-donate-to-local-charity/

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