Vail Resorts CEO Rob Katz has set up a program to give back to the communities where his company does business, including the greater Lake Tahoe area.

This is a personal contribution, not from the Colorado-based company.

Katz, according to a press release, has established a donor-advised charitable giving vehicle that will be funded from the shares and proceeds he will receive from exercising Vail Resorts share appreciation rights (SARs) that are approaching their 10-year expiration date.

These assets that are expected to total approximately $58 million,will make grants over a long-term period based on the recommendations of Katz and his wife, Elana Amsterdam.