In 2014, Gertrude Kornfeld, a longtime member of Mount Vernon Unitarian Church passed away. In her estate, she generously bequeathed three rental properties to the MVUC Endowment Fund. Because this estate is very complicated, the properties have not yet transferred to MVUC although it is hoped that the transfer will happen in the next few months.
MVUC Bylaws state, “any sale or purchase of real estate, shall require approval of a majority of the members eligible to vote.” This Bylaw was almost certainly intended to ensure Congregational approval was obtained prior to selling existing MVUC property, such as the Carriage House or to acquire additional property, such as an abutting piece of land. It was almost certainly not intended to apply to immediately selling real estate bequeathed to MVUC, as MVUC is not in the property management business and would logically need or want to sell any acquired rental property.
None-the-less, the Board believes that it is prudent to bring this issue to the Annual Meeting for a Congregational vote to ensure that we are in full compliance with our Bylaws. Thus, at the Annual Meeting you will be asked to vote to “Approve the sale of the three Kornfeld properties that have or will soon transfer to MVUC.”