Pymatuning Property Sale Creates Endowment

Property consisting of five lots in the Sportsmen Allotment near Pymatuning Lake in Linesville was given to the Crawford Heritage Foundation in July. It was a gift of Kenneth and Thomas Bair of Chelmsford and Upton, Massachusetts, respectively.

The Foundation listed the property for sale in August and accepted an offer a short time later. Proceeds from the sale have been used to establish the Robert F. Bair and Madeline N. Bair Fund in memory of the donors’ parents. The charitable endowment will pay a percentage of its value each and every year, forever, to the First United Methodist Church of Rochester, Pennsylvania.

“We were glad to help the Bair’s achieve their philanthropic goals. This generous gift honors their parents and supports the church in which they grew up. Most people give cash when they make charitable gifts. But, giving property, stocks or bonds that have appreciated in value can be a better choice. The main benefit is that capital gains taxes can be avoided by donating the property instead of selling it,” says Christian Maher, Executive Director.