Tuesday, February 23, 2010

Bronson Ingram legacies

According to an SEC filing, the QTIP Marital Trust under E. Bronson Ingram Trust disposed of 244,814 shares of Ingram Micro Inc. at about $18, producing $4.8MM for the QTIP beneficiary, presumably Martha Ingram, chairman of both Ingram Industries and the Vanderbilt University Board of Trust. One online dictionary describes common reasons for creating a qualified terminable interest property trust (QTIP). Thanks to another Ingram legacy, Vanderbilt University recently announced the latest recipients of the Bronson Ingram Scholarship, which has produced dozens of young leaders. Bronson Ingram died in 1995 and was chairman of the Board of Trust. He has left millions to Vanderbilt through a charitable trust. Martha Ingram and Ingram children remain broadly active in civic life and charitable giving. Martha Ingram was the chief benefactor advocating creation of the now-renowned Schermerhorn Symphony Center, and earlier did much the same for the Tennessee Performing Arts Center.

No comments: