The Fargo Public Schools Foundation has received a $10,000 gift from the Harold and Dorothy Madson Foundation.
The money will become part of the foundation's endowment fund and interest income will fund a named award, Executive Director Steve Backsen said Friday.
It is the first private named grant. Named grants require gifts of $10,000 or more. Three businesses, Community First, Gateway Chevrolet and Gordman's have also funded named grants.
Over the last two years, the foundation has given out 97 grants totaling $53,000 to various Fargo Public School District projects.
Grants are given out in March and October. They include teacher mini-grants and parent-community involvement grants (both up to $500), and schoolwide grants (up to $1,000), Backsen said.
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Backsen said he expects the Madson grant will produce about $500 a year in interest to be used for grants.
Harold Madson is the former owner of Border States Electric in Fargo.
