Man leaves $8 million estate to community foundation - WSMV News 4

Man leaves $8 million estate to community foundation

Posted: Updated:
Peter Grayson Letz died in September of 2013. ( photo) Peter Grayson Letz died in September of 2013. ( photo)

A man from North Stonington has left his $8 million estate to a community foundation in hopes of helping animals.

Peter Grayson Letz passed away on Sept. 22, 2013, according to the Community Foundation of Eastern Connecticut, or CFECT. The foundation said Letz left it the estate to promote animal welfare as well as protect the environment and wildlife in New London County.

CFECT said the gift was the largest in the group's 31-year history.

It will be used to create the Peter Grayson Letz Fund for Animals and the Environment.

"Although we did not have a personal working relationship with Peter Letz, the Community Foundation has had a long relationship with Peter's late parents through their own philanthropic endeavors," said Maryam Elahi, CFECT president and CEO. "It is very clear to us and to those representing his estate that he saw that entrusting his gift to the Community Foundation would carry out his wish to support the issues he really cared about."

CFECT said it planned to invest in companies that were deemed to be environmentally friendly and sensitive to animal rights. It said it believed the additional step would have pleased Letz.

"Community foundations like CFECT are playing a greater role in helping people support critical issues in their communities," said Paul Nunes, chairman of the CFECT Board. "We can provide guidance and technical support along with a base of regional knowledge to advise donors who want to make an impact."

CFECT is a $51 million community foundation comprised of 430 charitable funds. It serves 42 towns and has awarded $29 million in grants and scholarships to area nonprofit organizations.

For more information on CFECT, click here.

Copyright 2014 WFSB (Meredith Corporation). All rights reserved.

Powered by Frankly
Powered by WorldNow CNN
All content © 2018, WSMV; Nashville, TN. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.