A very frugal man left a whopping $13 million to local charities after his death, but some organizations lost out on millions because they thought it was a scam.
Terry Kahn worked for the Veterans Administration for thirty years and passed away quietly in 2021 – without announcement or obituary because they were too expensive.
The modest man from Indianapolis left no immediate family behind. He only said in his will that he wanted to donate his money to charity, but did not specify which one.
Kahn's attorney Dwayne Isaacs had the unique task of calling local charities and casually offering them millions of dollars.
While some charities were overwhelmed by the kindness, others were wary of the remarkable offering: “Probably three or four different entities that were lost because they just didn't take my call,” Isaacs shared. CBS news.
Terry Kahn worked for the Veterans Administration for 30 years and passed away quietly in 2021 – without announcement or obituary because they were too expensive
Kahn's attorney Dwayne Isaacs had the unique task of calling local charities and casually offering them millions of dollars
The modest man from Indianapolis left no immediate family and only said in his will that he wanted to donate his money to a “charity” but did not specify which
While some charities were overwhelmed by the kindness, others were wary of the remarkable offering: “Probably three or four different entities that were lost because they just didn't take my call,” Isaacs said.
Margaret Sheehan, CEO of Teachers' Treasure, said: 'It was an act of amazing kindness, to which I replied: 'I need to sit down'.
Kahn made his millions by pinching his pennies. He lived in a modest house in south Indianapolis and drove an old Honda.
The secret millionaire refused to carry a mobile phone because it was too expensive, he said.
His money-saving ways paid off in the long run, as he made a huge difference for a dozen nonprofits that got to share his $13 million legacy.
One of the charities was Teachers' Treasure, a free store in Indianapolis where teachers could go for school supplies.
Margaret Sheehan, CEO of Teachers' Treasure, said: 'It was an act of amazing kindness, to which I replied: “I need to sit down.”
Sheehan said Isaacs called at the right time because the group was in the middle of a conversation about how to grow the company.
She remembers thinking at first, “is this a scam?” and then 'what if it isn't?'
When Emmy Hildebrand, CEO of the group Helping Veterans and Families of Indiana, answered the phone, Isaacs said “what would you do with the $1 million?”
Julie Henson, vice president of development for Coburn Place — a nonprofit that provides support and housing to survivors of domestic violence, said that when the group answered the phone, they were “hovering above our own bodies and thinking, 'Is this real?'
His money-saving ways paid off in the long run as he made a huge difference for a dozen nonprofits who got to share his $13 million legacy
Kahn made his millions by pinching his pennies. He lived in a modest house in south Indianapolis and drove an old Honda
Sheehan, CEO of Teachers' Treasures, said Isaacs called at the right time because the group was in the middle of a conversation about how to grow the company.
Isaacs said Kahn asked for a “simple will” but emphasized that he did not want to give the money to his alma mater, USC, because they have enough money
Julie Henson, vice president of development for Coburn Place — a nonprofit that provides support and housing to survivors of domestic violence, said that when the group answered the phone, they were “hovering above our own bodies and thinking, 'Is this real?'
Isaacs, who received a similar response from all 12 nonprofits, said, “He's laughing somewhere, there's no doubt about it. He would get a kick out of this.”
Isaacs met Kahn in the mid-1990s through a partnership with the Health Foundation of Greater Indianapolis, a grantmaking entity formed in 1985 from proceeds from the sale of Metro Health HMO.
The couple began meeting for lunch every month for a decade. During this time, Kahn began sharing details about his life, saying that his parents had fled Nazi Germany and settled in the US.
Kahn and his sister grew up in Tucson and he later attended the University of Southern California, where he earned a degree in psychology and public administration – while also playing tennis.
He enlisted in the U.S. Army and served three years in Vietnam. In 1976, he then settled in a middle-class area of Indianapolis.
The charitable man has never married and has no children. His sister died in her 40s, leaving behind a son and daughter from whom Kahn was estranged for unknown reasons.
Isaacs said Kahn asked for a “simple will” but emphasized that he did not want to give the money to his alma mater, USC, because they have enough money.
Kahn insisted he didn't care which charities his money went to and left Isaacs with the final decision.