FM Area Foundation announces the upcoming retirement of Executive Director Tim Beaton
- July 08, 2020
After 10 years of serving as Executive Director of the FM Area Foundation, Tim Beaton has announced his retirement to be effective February 2021.
“For the past 10 years, I have enjoyed the challenges and successes achieved by the FM Area Foundation. As the Executive Director, it has been my great honor to work with a very hard-working staff, a dedicated board, many extraordinarily generous donors and a host of visionary community leaders,” said Beaton.
The FM Area Foundation is a community foundation that assists people with charitable giving and provides grants to nonprofit organizations and scholarships to students, as well as leadership on important community initiatives in Cass County, N.D., and Clay County, Minn. The FM Area Foundation is known for its community endowments that generate grant dollars for charitable causes year after year.
During Beaton’s tenure at the Foundation, assets have grown by nearly $50 million. Today’s asset base, approaching $100 million, represents more than 400 donor created component funds. In addition to its growth, the Foundation has distributed more than $54 million in grants and scholarships during its 60-year history with over $5.5 million distributed last year.
Some of the Foundation's key work during Beaton's tenure includes:
- The purchase of the Foundation's first office space located at—409 7th Street South, Fargo, N.D.
- The creation of the FM Area Foundation Impact Investing Program, where investments are made to organizations, projects, or funds with specific intention to create a positive social impact alongside a financial return. As loans are repaid, new investments are made back into the community.
- Key leader in several community-wide initiatives, including the Regional Workforce Study and Downtown Moorhead Inc.
- Successful launch of the Cass Clay Community Land Trust in response to the growing housing affordability needs in the greater Fargo-Moorhead area.
- Asset growth of nearly $50 million in the last 10 years.
- Growing the staff from four to seven.
“I decided to announce my retirement at an early date in order to allow our Board of Directors to have ample time to conduct a search for a new Executive Director to continue the growth trajectory of the Foundation, the continuation of the new programs created by our Board of Directors and to maintain the partnerships developed within the region to benefit the people of Cass – Clay,” said Beaton.
The search for the next Executive Director is underway.
“We want to thank Tim for his dedication and service to the FM Area Foundation. We wish Tim and his wife, Joan, best wishes and enjoyment in their upcoming retirement,” said Don Haugen, FM Area Foundation Board Chair.
About the FM Area Foundation:
The FM Area Foundation is the community foundation created by and for the people of Cass County, North Dakota, and Clay County, Minnesota. The FM Area Foundation helps people give back to the community and ensures the needs of the community are addressed now and in perpetuity. Working in partnership with individuals, families, businesses and professional advisors, the FM Area Foundation manages charitable funds and provides grants to qualified nonprofit organizations and scholarships to students. The FM Area Foundation has been serving the community through philanthropy since 1960.