Tuesday, May 22, 2012

Innovative philanthropy

Man donates Kmart inventory to charity
United Press International (article excerpt) - May 18, 2012

A Kentucky businessman who purchased a closing Kmart store's entire inventory and donated it to charity said he hopes the deed inspires others to do good.

Rankin Paynter, the owner of a Winchester firm that buys up surplus goods, said he decided to purchase the closing store's entire inventory -- valued at about $200,000 -- upon learning the store would allow it on the last day of business and he soon decided to donate all of the merchandise to Clark County Community Services, a charity serving low and middle income families in the area, ABC News reported Friday.

"It makes me feel good [to give to charity]," Paynter said. "I come from real poor background. I'm talking really poor."

Paynter said he hopes the attention his donation is receiving will inspire others to give to charity.

No comments:

Subscribe to: Post Comments (Atom)