September Sale of Estate Gift Nets $4.1 Million
| by MNU News email@example.com
A portion of the assets from the estate of Edgar (’72) and Maron (Lorimer) Moore sold at auction September 13, 2016, bringing MNU proceeds of $4.1 million. The nearly 1,400 acres of farmland in Henry County, Missouri, was part of the Moore’s estate gift from December 2015. The couple’s combined estate gift totaled more than $9 million in assets, representing the largest one-time gift from an alumnus in the university’s 50-year history.
Two other alums, Dave Webb (’76), owner of Webb & Associates, a real estate and personal property auction house, and Kevin Borger (’94), former assistant to the president for church relations and a world-champion auctioneer, teamed up to help the university sell the land. Because of their research, advertising, marketing and coordination services, the auction generated excitement throughout central Missouri and drew 125 attendees, 30 prequalified bidders and an online audience of 200. All the proceeds will benefit MNU because Webb and Borger also chose to donate their sales commission to the university.
“It’s a very significant and meaningful gift,” says Dr. David Spittal, MNU president. “I’d say our unique relationship with these two nationally recognized auctioneers led to MNU realizing the best possible outcome from the land sale.”