Anthony S. Colavita
About Anthony S. Colavita
Independent Trustee of GAMCO Natural Resources, Gold & Income Trust (GNT) since August 22, 2018; born 1961. Practicing attorney with Anthony S. Colavita, P.C. since February 2018 and Town Supervisor of Eastchester, NY since January 2004, overseeing review, adoption, and administration of a ~$35 million municipal budget. Education: BA, Colgate University; JD, Pace University School of Law. Currently serves as Chairman of GNT’s Nominating Committee and is classified as independent under NYSE guidelines .
Past Roles
| Organization | Role | Tenure/Dates | Committees/Impact |
|---|---|---|---|
| Town of Eastchester, NY | Town Councilman | 1998–2003 | Community program board activity; prior government experience . |
| New York State Senate | Counsel | Prior role (date not specified) | Legislative counsel experience . |
External Roles
| Organization | Role | Tenure/Dates | Notes |
|---|---|---|---|
| Anthony S. Colavita, P.C. | Attorney | Since Feb 2018 | Law practice leadership . |
| Town of Eastchester, NY | Town Supervisor | Since Jan 2004 | Oversees ~$35 million municipal budget; executive public-sector experience . |
| Not-for-profit corporations | Board member | Various | Multiple community-based programs (non-profit governance) . |
Board Governance
- Board size and independence: Nine Trustees; eight not “interested persons” under the 1940 Act (independent). Colavita has served since 2018; Trustees are divided into three classes with three-year terms .
- Committee leadership: Chairman of the Nominating Committee; members are Colavita (Chair), Melarkey, and Zizza; all members are independent under NYSE guidelines .
- Committee activity: Nominating Committee met once in FY2024; Audit Committee met February 6, 2025 to review FY2024 audit (Colavita is not listed as a member) .
- Lead Independent Trustee: James P. Conn .
- Meeting cadence and attendance: Board met four times in FY2024; each Trustee attended at least 75% of Board and relevant committee meetings .
- Annual meeting attendance: The Fund does not expect Trustees to attend; no Trustee attended the May 13, 2024 annual meeting .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual retainer (Independent/Interested Trustees) | $3,000 | Cash retainer. |
| Board meeting fee | $1,000 per meeting attended | Cash per-meeting. |
| Committee meeting fee | $500 per committee meeting | Cash per-meeting. |
| Nominating Committee Chair fee | $2,000 annual | Applies to Colavita as Chair. |
| FY2024 aggregate compensation from GNT | $9,000 | Paid by the Fund. |
| FY2024 aggregate compensation from Fund Complex | $169,250 (across 23 funds/portfolios) | Total across Gabelli Fund Complex; number in parentheses indicates entities. |
| Total trustee remuneration (Fund aggregate FY2024) | $74,000 | Excludes out-of-pocket expenses. |
Performance Compensation
- No equity awards, options, or performance-based compensation are disclosed for Trustees; the proxy details only cash retainers and meeting-based fees, plus specific chair stipends .
Other Directorships & Interlocks
| Company | Role | Period | Notes |
|---|---|---|---|
| — | — | Past five years | Proxy discloses no other public company directorships for Colavita (excluding other funds managed by the Adviser) . |
| Other Gabelli funds | Trustee/committee roles | Ongoing | Serves on comparable committees for other funds in the Fund Complex . |
Expertise & Qualifications
- Legal and regulatory: Attorney; prior counsel to NY State Senate; extensive public-sector governance experience .
- Public finance and administration: Two decades as Town Supervisor managing a ~$35 million municipal budget .
- Board leadership: Chair of Nominating Committee; independence affirmed under NYSE guidelines .
Equity Ownership
| Measure | Colavita | Notes |
|---|---|---|
| Beneficial ownership in GNT (shares) | 0 Common Shares; <1% of outstanding | As of Dec 31, 2024. |
| Dollar range in GNT | A (None) | As of Dec 31, 2024. |
| Aggregate dollar range in Fund Complex | A (None) | As of Dec 31, 2024. |
| Interests in Adviser-affiliated entities | Not listed for Colavita in disclosure table | Table lists other Independent Trustees’ interests; Colavita not included. |
Governance Assessment
- Independence and committee leadership: Positive—independent under NYSE, chairing the Nominating Committee, and part of a board with a Lead Independent Trustee structure .
- Attendance and engagement: Meets minimum standard (≥75%); Board met four times in 2024. However, no trustee attended the 2024 annual meeting, which may be viewed as weaker shareholder engagement for some investors .
- Alignment and incentives: RED FLAG—no GNT share ownership (0 shares) and “None” dollar range in both the Fund and Fund Complex; combined with cash-only compensation, this suggests limited “skin-in-the-game” alignment .
- Compensation dependence: Yellow flag—material compensation from the broader Fund Complex ($169,250 across 23 funds), which is typical for closed-end fund governance but may create perceived structural reliance on the sponsor .
- Related-party/affiliate interests: No interests for Colavita are listed in the proxy’s affiliate-interests table, which mitigates direct conflict concerns relative to peers who have such interests .
- Committee activity cadence: Nominating Committee met once in FY2024; while consistent with fund governance norms, low frequency can limit oversight responsiveness depending on Board pipeline needs .
Overall: Independent status and legal/government expertise support board effectiveness, but zero share ownership and reliance on fund-complex compensation are alignment and perception risks. Investors should monitor engagement signals (e.g., annual meeting attendance norms) and any evolution in committee activity or ownership posture .