FOUNDATION CELEBRATES FIFTY YEARS OF COMMUNITY SERVICE
05.06.2010 -
FOR IMMEDIATE RELEASE
January 8, 2010
Contact: Cher Hersrud, cher@areafoundation.org, (701) 234-0756
FARGO - The May 10, 1960 Evening edition of The Fargo Forum and Moorhead News included a lengthy article announcing, “The establishment of a community trust to operate as the Fargo-Moorhead Area Foundation.”
Two banking institutions had trust powers in both Fargo and Moorhead at the time. First National Bank and Trust and Merchants National Bank and Trust issued the following joint statement to The Fargo Forum and Moorhead News:
The adoption by our boards of directors of this resolution embodying the declaration of trust puts the Fargo-Moorhead area in step with the 150 other communities in the United States having Community Trusts.
Their experience has shown that Community Trusts are the most effective means of meeting community needs by public giving for charitable, educational and other public purposes on a permanent basis. They create a reservoir of funds for such purposes to be drawn on as needed.
The 1960 Forum article further explains that those involved with the creation of the Fargo-Moorhead Area Foundation emphasized that the new community foundation would “provide a single organization through which contributions for establishment of a permanent fund can be handled.”
The first Distribution Committee of the Foundation included Mortimer Wilk, Harold Bangert, Norman Black Jr., Arthur Diercks, Clark Fredrikson, C. Warner Litten, and Oscar Rusness.
Area attorney, Arthur Cupler, undertook the organizational research and development for the creation of the Fargo-Moorhead Area Foundation. Arthur W. Cupler and his wife, Clara created its first endowed fund with a donation of $80,000 focused on providing college and university scholarships in perpetuity. The Arthur W. and Clara Cupler Fund awarded its first grants in 1964.
In 1978, Clara Cupler left $375,000 from her estate to the fund. Today, the original $455,000 commitment by the couple has grown to more than $1.8 million. More than $3 million in earnings have been distributed in the form of university scholarships to more than 1,000 individuals.
The Fargo-Moorhead Area Foundation created the Women’s Fund in 2000. This permanent endowment has grown to nearly $500,000 through the dedication, commitment, and contributions of many area women. The Women’s Fund Advisory Council is planning to celebrate the Women’s Fund 10th anniversary with special events.
The Fargo-Moorhead Area Foundation currently manages 200 funds. Created by families, individuals, and business, the Foundation funds support community needs, education, and scholarships. Endowment funds become Foundation assets and are invested within “pools” for a higher return. The investment income for each fund is available annually for distribution by the Foundation for the purpose indicated by the original donor.
“Donor intent is at our core. Arthur and Clara Cupler created a fund at the Fargo-Moorhead Area Foundation with the assurance that their fund would exist forever, and would forever allocate income to support scholarships at specific area universities, states Cher Hersrud, Advancement Officer. “We are continuing to meet their intent 46 years later.”
During its 50 year history, the Fargo-Moorhead Area Foundation has had only five Executive Directors: Susan Hunke Shirley; Jan Ulferts Stewart; Karla Aaland; Mike Hannaher (Interim); and Steve Guerber.
Current Executive Director, Steve Guerber has been amazed by the previous work of the Foundation, stating, “In reviewing the Foundation’s history, I have been impressed by its continued growth, and by the quality of its board and staff, both historically and currently.”
-end-
Historical Quotes:
“One of the beauties of the foundation is that it helps to tie Fargo and Moorhead and the two counties together...The Red River is no real dividing line.” Arthur Cupler – Fargo Forum, January 15, 1961
“It provides a means of multiplying many times what an individual with only modest means might seek to do for a favorite charitable or educational institution.” Arthur Cupler – Fargo Forum, January 15, 1961
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