Post by Logan on May 6, 2016 22:51:47 GMT -6
The Burnett family continues to support its hometown of Dallas Center after being gone for three decades. About $7 million from the family’s trust will go to organizations in and around the city of about 1,600 residents this year.
Burton Burnett was born in 1913. He made his fortune through farmland and a Ford dealership in Dallas Center. He established a trust to benefit the community prior to his death in 1976. It went into effect in 1986 after his 41-year-old daughter Penelope (Penny) Burnett died of cancer.
“It’s important to remember the family for the gifts they’ve given,” Mayor Michael Kidd said. “They lived in the community, their business earned money from the community and they turned around and gave back from their hearts to the community.”
The 30-year Burnett Charitable Trust has paid dividends over the last three decades. Last year’s payouts totaled to $258,000. The money is invested in farmland and stocks and is now worth about $7 million, trustee John Thomas said. When the trust expires in November the community groups it benefits will split the value of the trust.
Read more: www.desmoinesregister.com/story/news/local/community/2016/05/07/burnett-family-trust-dallas-center/84060588/
Burton Burnett was born in 1913. He made his fortune through farmland and a Ford dealership in Dallas Center. He established a trust to benefit the community prior to his death in 1976. It went into effect in 1986 after his 41-year-old daughter Penelope (Penny) Burnett died of cancer.
“It’s important to remember the family for the gifts they’ve given,” Mayor Michael Kidd said. “They lived in the community, their business earned money from the community and they turned around and gave back from their hearts to the community.”
The 30-year Burnett Charitable Trust has paid dividends over the last three decades. Last year’s payouts totaled to $258,000. The money is invested in farmland and stocks and is now worth about $7 million, trustee John Thomas said. When the trust expires in November the community groups it benefits will split the value of the trust.
Read more: www.desmoinesregister.com/story/news/local/community/2016/05/07/burnett-family-trust-dallas-center/84060588/