The Alex Stern Family Foundation was established in 1964 by Sam and Edward Stern and became active in 1977 upon Edwards’s death. The Foundation had assets of just over $1 million at that time. The Foundation had a Dakota Bank connection for the most part since its inception. The original document was drafted by Philip Vogel, a Dakota Bank Director.
The first Executive Director was A.M. Eriksmoen, who was the President of Dakota Bank until 1977. The first trustees were A. M. Eriksmoen, R. E. McKnight who was a Dakota Bank trust officer, John McCormick a Dakota Bank Director and Ole Eide who was a CPA in Fargo. Mr. McKnight and Mr. Eide resigned some time later and Mr. W.R. Amundson who was a former Dakota Bank President was elected as a trustee. In 1990, Mr. Eriksmoen resigned as Executive Director and Mr. Amundson was elected Executive Director. In 1991, Mr. Steven Stroud, a trust officer of Dakota Bank, was elected as trustee succeeding A. M. Eriksmoen. In 1993, Mr. Edward G. Preston, a former Dakota Bank Vice President, became Executive Director upon the death of Mr. Amundson. In 1998, Donald L. Scott, former Dakota Bank Asst. Vice President, succeeded as a trustee to Steven Stroud who resigned in 1999, Mr. McCormick retired as trustee and Mr. Preston retired as Executive Director/trustee. That same year, Mr. Donald L. Scott was elected Executive Director/trustee and H. Michael Hardy, former President of Dakota First Trust Co., and Dan Carey former Senior Vice President of Dakota Bank, were elected trustees.