The legacy of local philanthropist Louis Mund lives on even after his death, as proceeds from the wealthy man’s estate and land sales are going to local charities.
Mund died nearly a year ago on Nov. 13, 2017. The East Carondelet native grew up in Dupo, starting to work when he was 9 and earning his wealth through a business that repaired automobiles and tractors and owning Columbia Golf Course.
Mund gave to several causes throughout his life. He had no immediate family other than his sister, Jeanne Lagowski of Austin, Texas.
Earlier this year, Estate Sales with Hart hosted two estate sales to sell off Mund’s possessions.
In July, the business held a sale of tools and equipment. In September, the sale consisted of diverse items such as a baby grand piano, paintings, household items, diamond rings and Civil War items.
Collectors, dealers and people who knew Mund came from around the country to buy the items.
According to John Rasp, an attorney who is co-trustee of the Louis I. Mund Trust, the amount going to charity from the estate sale alone may be close to $1 million.
Estate Sales with Hart owner Brian Hart said it was the biggest estate sale he had ever seen, and the first that went to charity.
“This exceeded any normal estate sale by 10,” Hart said. “It was 10 times as great as anyone else’s sale because it was all high-end stuff.”
Now, the land that was part of Mund’s estate is up for sale.
The properties for sale are being sold in individual tracts of various size.
They are located between Columbia and Dupo, stretching out all the way to the Mississippi River in some cases.
The land recently hit the market and will only be available for two weeks. Then, the offers will be taken to the trustees so they can decide who will get to purchase the land.
The properties are available for viewing at propertypeddler.com/index.php by clicking on properties and viewing the area where Mund’s lands are located.
Rasp said proceeds from that sale, like the estate sale, will be divided between five organizations, with 20 percent going to each one.
The money will go to:
• Cardinal Glennon Hospital for Children to establish the Josephine W. Mund and Louis I. Mund Endowment Fund, which will be used exclusively for pediatric research and treatment and care of children at Cardinal Glennon Children’s Medical Center in St. Louis
• Shriners Hospital for Children to establish the Ira I. Mund and Louis I. Mund Endowment, the income from which to be used exclusively for pediatric research and treatment and care of children at Shriners Hospital
• Bradley University, to be added to the Mund-Lagowski Endowment Fund for the department of chemistry and biochemistry
• The University of Illinois Foundation, with half establishing the Louis I. Mund Veterinary Medicine Endowment Fund to be used for veterinary research and education, and half establishing the Louis I. Mund Archeology Endowment Fund to be used for archeology research and education
• The NRA Civil Rights Defense Fund, which will establish the Louis I. Mund Endowment to provide legal and financial assistance in defense of the right to keep and bear arms.
“It’s nice to see that a lot of people do use their estate after their death to benefit other people beyond maybe just their family,” said Brenda Chandler, managing broker at Property Peddler, the company managing the land sale. “Family is important, too, but it’s nice that sometimes it goes to good causes.”