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Elkhart resident leaves $125M to help hometown
Updated: Sunday, 26 Aug 2012, 5:38 PM EDT
Published : Sunday, 26 Aug 2012, 5:38 PM EDT
ELKHART, Ind. (AP) - The president of the Elkhart County Community Foundation says a gift of about $125 million from an estate stands to become a watershed event in the history of the northern Indiana community.
Foundation President Pete McCown told The Elkhart Truth for a story Sunday that he gift from the estate of David Gundlach will rank with the arrival of the earlier settlers of the area and the development of key industries. Gundlach died of a heart attack last October at age 56 after making a fortune in the insurance business.
McCown says the foundation will go from distributing about $750,000 in grants each year to 10 times that amount. He says how the money is spent will define the future of Elkhart County.
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