March 29, 2024

Pesik family leaves $3M in farmland to Holy Spirit Parish

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hen 440 acres of farmland sold for more than $3 million this January, a family with a legacy of giving had made its final contribution to Holy Spirit Parish and the St. Malachy Foundation.

The land, located northwest of Creston, belonged to the Pesiks, a family of nine siblings, none of whom ever married or had children. The siblings lived on the family farm and regularly volunteered at the parish and St. Malachy School.

When the final sibling, Irene Pesik, died in September 2012 at age 93, the parish received two parcels of land through the family’s will. The sale, which took place Jan. 24, grossed $3,095,618.

“We’ve sold other pieces of land,” said The Rev. Ken Halbur, pastor at Holy Spirit Parish. “For my time here, this is by far the biggest.”

What exactly does a parish do with $3 million?

A committee representing both the parish and the St. Malachy Foundation, which provides funding to St. Malachy School, met to decide. The committee agreed to split the sale of the land equally between the two. It also decided to invest the money, with the goal of only drawing from the interest each year.

“We wanted it to be a long-term legacy,” Halbur said. “We’re not going to touch the principal.”

Al Pokorny, who serves on the parish’s finance committee, said the timing on this donation meets a current need, as the parish has been running short on funding in recent years.

“It came at a nice time because we have been depleting our savings,” he said. “Now the interest from this principal will surely be a welcome thing to the parish and the school.”

This wasn’t the first gift of land donated by the Pesiks. In 2005, another parcel of land, donated by Ed and Irene Pesik, financially enabled the school to finish the first phase of a building renovation project. With the proceeds, the school was able to upgrade its heating and cooling system and carry out several more remodeling tasks.

The St. Malachy Foundation’s half of the current property sale tripled the foundation’s endowment, raising it from about $800,000 to about $2.4 million, said John Walsh, St. Malachy principal.

Walsh said these gifts are a testimony to the deep faith of the Pesik family, their belief in the school and their desire to make it available to others. He said the Pesiks are among many who have financially supported the school over the years.

“On the receiving end, we’re extremely grateful, but humbled, by the generosity of people,” he said.

To commemmorate the Pesiks’ ministry to the parish, plaques of honor will be installed at both the parish and St. Malachy School in the coming weeks.