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At the FM Area Foundation, we take our responsibility to invest and manage funds wisely while ensuring the donor’s intent is always met seriously. We help your charitable gifts make the most significant impact possible on our community year after year. 

Audited Financial Statements

2022-21 Audited Financial Statements

2021-20 Audited Financial Statements

2020-19 Audited Financial Statements

2019-18 Audited Financial Statements

IRS Form 990

IRS Form 990 provides annual financial information about the FM Area Foundation’s assets, investments, expenses, and grant awards.

2022 IRS Form 990


Show your support

We can do so much more for our communities by working together. If you want to make a difference close to home, you can join like-minded supporters and give to one of our 400+ charitable funds, each with its own unique story and purpose.

“We wanted the scholarship to live on as a legacy for Norman and I in our communities to encourage a young person as they seek their dreams.”

Agnes Liudahl Donor

“Serving on the Foundation board enables me to support efforts to strengthen our community.”

Morrie Lanning Board Member

“We are thrilled to engage our daughters as future advisors to our fund. Knowing there will always be a family member to guide our charitable intent makes us feel great.”

Mike & Peggy Bullinger Donors

“Anything that can motivate a child’s love of reading deserves support. Read to Lead can be such a vehicle.”

Noel & Judy Fedje Donors

“Thank you to the Women's Fund for supporting our moms and children.”

Jeremiah Program Program

“The community foundation is specifically created to encourage and nourish the giving spirit in the community.”

Art Cupler Founder

“Thanks to support from the FM Area Foundation, we completed two major projects. We're very grateful for the Foundation’s generosity as these projects support our mission to preserve and maintain the historic facility.”

Emily Beck Fargo Theatre


We aim to maximize donors’ gifts to make a more significant impact in our community.

All assets are managed consistently with sound and prudent fiduciary practices and comply with all applicable laws, including the Uniform Prudent Management of Institutional Funds Act as adopted in North Dakota and Minnesota.

An Investment Committee, appointed by the FM Area Foundation Board of Directors, is responsible for implementing the Investment Policy as directed by the Board of Directors and acting with care, skill, prudence, and diligence.

Investment-Related Objectives ForTthe FM Area Foundation Are:
Return Expectation

Assets are expected to generate a reasonable risk-adjusted total return, given normalized capital markets. Over the longer-term (5-year horizon), the assets are expected to yield annual income at a rate equal to and preferably greater than, the market aggregate of investment-grade securities. Emphasis is on investments that assure the return of invested principal over the return on money invested.

Risk Tolerance

Fiduciary standards of prudence apply to investments of the Foundation. Given a range of risk from very low to very high, endowment investments should carry a moderate level of risk.

Asset Mix

All investments of Foundation assets will be made in accordance with the guidelines outlined in the Investment Policy. Diversification of assets should be employed.


Because the Portfolio is expected to endure into perpetuity, and inflation can impact its Performance Objective, the long-term risk of not investing in growth securities outweighs the short-term volatility risk.


Investment Partners

The Foundation’s assets are invested at the following institutions:

Contact Our Staff

Patty Mastel, CPA
Director of Finance and Operations/CFO