On Jan. 5, 2016, at the age of 92, Roland Stenerson passed away leaving an unrestricted gift in the amount of $509,658 to the FM Area Foundation and ultimately his community. The Roland Stenerson Designated Fund, created by Stenerson in 2009, was funded by proceeds from his Revocable Trust at the time of his passing.
Stenerson was born and raised in Felton, Minn, and spent his adult life working in business and education. He retired in Moorhead where he continued to enjoy sporting events, big band music and traveling.
This permanently endowed gift will help address changing community needs year after year in Roland’s name.
“A bequest that creates an endowment is one of the most meaningful legacies anyone can provide. It costs nothing during your lifetime, yet offers ongoing, perpetual support for the charities and causes that you have believed in and supported during your lifetime. Mr. Stenerson understood this, and as a result, the community will benefit forever from his generosity and thoughtfulness in creating this gift,” said Tim Beaton, Executive Director.
Distributions from the fund will be awarded through the Foundation’s annual, community grant round, which local nonprofit organizations apply to. The grants awarded are reviewed by a special grants committee made up of FM Area Foundation staff, board members, and community members and approved by the Foundation’s Board of Directors.