Endowment Building with Unique Gifts in Pender

by Austin Black

Harold Rink and his family established a Donor Advised Fund with the contribution of seven antique tractors. The tractors were sold by the Pender-Thurston Community Foundation. The Rinks purchased a tractor in 1973 for $1,500, restored it, and sold it in 2006 for $86,500. The capital gains tax was avoided by contributing the tractors prior to their sale. The Rinks will use their gift as an endowment to benefit their community for future generations. They have challenged other community supporters to contribute to the endowment. The sale not only brought in money for the Pender community, it also brought people from all over the nation to the area. All of the photos were taken by Ray Welsh. Click below to view a slide show from the Auction.