M State, Stern Family Foundation announce endowment partnership

A new endowment partnership between the Moorhead Community and Technical College Foundation and the Alex Stern Family Foundation will help make college attainable for first-year Minnesota State Community and Technical College students from the Fargo Moorhead area.

The newly created Alex Stern Family Foundation Scholarship Endowment was designed by the Alex Stern Family Foundation as an endowment-building challenge grant to encourage increased and continued donor engagement and financial support in higher education. The endowment goal of $100,000 is designed to provide a minimum scholarship of $5,000 per year for students from Cass and Clay counties.

“We are proud to partner with the Alex Stern Family Foundation as part of a legacy that provides bright futures for individuals,” said Denise Laymon, M State’s chief development and alumni officer. “This is an exciting opportunity for students to further their education without enduring heavy financial burden.”

About the Alex Stern Family Foundation

Alex Stern, born in Illinois in 1858, came to Fargo in 1880 to found Alex Stern & Company, a clothing company eventually located at NP Avenue and Broadway. He and Bertha Kaufman married in 1883 and had three sons, William in 1886, Samuel in 1888 and Edward in 1896. Alex Stern was a civic leader, serving as a city commissioner and alderman, school board member, mayor and state legislator.

He founded Dakota National Bank in 1916 on a site across the street from his clothing store. Bertha Stern died in 1930, and Alex Stern died in 1934.

Each of their sons served in World War I. William became president of Dakota Bank after his father’s death. He was a national Republican Party committeeman for several years and was one of the founders, the first president and a long-time board member of Northwest Airlines. Active locally and nationally with the American Legion, he died in 1964.

Samuel Stern worked for the family’s clothing company and married Helen Hart, from the family of suit-maker Hart-Schaffner-Marx. Their two children died at very young ages. He was active in the Elks Club and served as the national Grand Exalted Ruler. He died in 1967.

Edward Stern served as a public relations director for Northwest Airlines and a consultant to the U.S. Senate’s Commerce Committee. He lived in Washington, D.C., and died in 1977.

Samuel and Edward created the Alex Stern Family Foundation when they inherited William’s estate in 1964, stipulating that “The funds are to be used to enhance charitable and literacy causes in the Fargo-Moorhead area because it was here that the Stern Family had good fortune.” The foundation was to become active upon the last brother’s death, which occurred in 1977.

Moorhead Community and Technical College Foundation serves M State’s Moorhead campus, with a mission of helping students afford their education by building partnerships with businesses, individuals and organizations. The foundation also promotes workforce development by securing equipment, supplies and scholarships to enhance programs and provides needed financial assistance to qualified M State students.

For more information or to express your support, contact Denise Laymon at denise.laymon@minnesota.edu or 218.846.3720.

Posted in News on December 8, 2016 at 10:41 am