Kathleen Magowan may have passed away in 2011 at the age of
87, but her surprising charitable donations have given her a very
unexpected legacy: she's being called a "secret millionaire."
During
her lifetime, the former first grade teacher and her twin brother,
Robert, amassed a fortune of nearly $10 million, much to the surprise of
residents in their community of Simsbury, Connecticut.
Kathleen
Magowan's estate alone was estimated at nearly $6 million and after her
passing she willed sizable sums of her wealth to places she held dear.She
left nearly $480,000 to Simsbury public schools, $500,000 to the
University of St. Joseph in West Hartford, more than $400,000 to the
McLean nursing home where she died, and nearly $375,000 to her local
parish, St. Mary's Roman Catholic Church,
according to The Hartford Courant.
"Her
donation was the biggest in at least 33 years," Katie Wilde, executive
assistant to the superintendent of Simsbury Public Schools, told Yahoo
News.
Magowan taught for 35 years in the district and loved
chatting about books and teaching, according to people who knew her,
even in her later years at McLean Continuing Care Community, where she
was a resident until her passing.
"She was very much the
schoolteacher. She became a part of the community when she joined our
pool. She was always recommending books and having discussions in the
pool," Deene Morris, Director of Development at McLean tells Yahoo.
"People
remember that she faithfully attended all exercise classes and had an
attendance record that nearly exceeded all residents. She lived her life
fully and completely, until the end of her life," Morris added.
However, none of the residents at McLean were aware of Magowan's affluence.
Neither
Magowan nor her brother ever married and their fortunes were never
mentioned in their obituaries. Robert Magowan, who worked for Prudential
Insurance, died one year prior to his sister.
It reportedly took
lawyers two years to discover the entirety of their massive wealth,
which was amassed through a series of smart investments, according to
The Hartford Courant:
"In one of the most stunning
discoveries, a neighbor who was helping the attorneys found a Quaker
Oats can in a closet that contained the original war bonds from the
1940s and 1950s, largely in small denominations of $50 and $100. The
attorneys had no idea what the bonds might be worth, but some research
on the Internet showed that the papers in the Quaker Oats can were worth
$183,000."
"They didn't throw anything away," attorney
David Bondanza, who did much of the legal work on the estate, told The
Courant. "That's the bottom line. There was a lot of history in that
house.''
The
contents of their home reportedly added $10,000 to their estate after
lawyers found $6,000 in jewelry in a safe deposit box. The Magowan
twins' list of priceless items go on, with National Geographic magazines
dating back to 1929, old newspapers, dozens of file folders filled with
magazines, record albums from the 1920s along with a record player that
still worked.
However, the most important lesson from their savings seems to be in the power of giving.
"People don't give to be recognized," Morris tells Yahoo. "Miss Magowan has shown great generosity."