News Release: The McKnight Foundation announces new board member
July 15, 2005 - Richard D. McFarland joins The McKnight Foundation's board of directors.
The McKnight Foundation has named Richard D. McFarland as a new member of its board of directors, and the third nonfamily board member in the Foundation's history.Richard McFarland began a career in financial management in the 1950s at Minnesota's Kalman & Co., a predecessor to contemporary brokerage and investment firm RBC Dain Rauscher, where he eventually became president and chief executive officer. Although he officially retired from the Dain Rauscher Corporation in 1995, after 10 years as board chair, he remains with the company in an advisory role. McFarland holds a Bachelor of Arts degree from Dartmouth College, New Hampshire; and a Masters Degree in Business Administration from Dartmouth's Amos Tuck School of Business Administration.McFarland's philanthropic ties date back 30 years, to his work with Dain Rauscher's Dain Foundation, which focused on education, human services, and the arts. He also served for 10 years on the board of the Bush Foundation, St. Paul, throughout the 1990s; and subsequently became a trustee at the Minneapolis Foundation. Additional previous philanthropic and business board affiliations include Abbott Northwestern Hospital, the Security Association of America, the Minnesota Center for Corporate Responsibility, and the United Way of Minneapolis Area. He also has served since 1999 on the Investments Advisory Committee to the University of Minnesota's Board of Regents."We are delighted that Richard McFarland has agreed to join us at McKnight," says Erika L. Binger, board chair and great-granddaughter of founders William L. and Maude L. McKnight. "Dick's rich history in Minnesota philanthropy offers a unique, invaluable complement to our continuing work. In addition to his fresh, thoughtful perspective, we are also grateful for the opportunity to benefit from Dick's personal sensibilities and integrity. All the gifts he brings to our table will help inform and enrich McKnight's continuing strategies to strengthen communities, families, and individuals."Including McFarland, the Foundation's board now has 11 members: Benjamen M. Binger, Erika L. Binger, James M. Binger, Patricia S. Binger, Peggy J. Birk, Cynthia Binger Boynton, Meghan Binger Brown, Zeke Brown, Noa Staryk, and Ted Staryk. Cynthia and James are the children of James H. Binger (1916-2004) and Virginia McKnight Binger (1916-2002), the only child of McKnight's founders. In August, Peggy J. Birk—currently the only other nonfamily director—will step down temporarily from McKnight's board. Birk will serve as interim president while the Foundation conducts a formal search to replace outgoing president Rip Rapson.About The McKnight FoundationFounded in 1953 and endowed by William L. McKnight and Maude L. McKnight, the Foundation has assets of approximately $2 billion and granted about $85 million in 2004. Mr. McKnight was one of the early leaders of the 3M Company, although the Foundation is independent of 3M. For more information about the Foundation and its programs, please visit our website at www.mcknight.org.
The McKnight Foundation has named Richard D. McFarland as a new member of its board of directors, and the third nonfamily board member in the Foundation's history.Richard McFarland began a career in financial management in the 1950s at Minnesota's Kalman & Co., a predecessor to contemporary brokerage and investment firm RBC Dain Rauscher, where he eventually became president and chief executive officer. Although he officially retired from the Dain Rauscher Corporation in 1995, after 10 years as board chair, he remains with the company in an advisory role. McFarland holds a Bachelor of Arts degree from Dartmouth College, New Hampshire; and a Masters Degree in Business Administration from Dartmouth's Amos Tuck School of Business Administration.McFarland's philanthropic ties date back 30 years, to his work with Dain Rauscher's Dain Foundation, which focused on education, human services, and the arts. He also served for 10 years on the board of the Bush Foundation, St. Paul, throughout the 1990s; and subsequently became a trustee at the Minneapolis Foundation. Additional previous philanthropic and business board affiliations include Abbott Northwestern Hospital, the Security Association of America, the Minnesota Center for Corporate Responsibility, and the United Way of Minneapolis Area. He also has served since 1999 on the Investments Advisory Committee to the University of Minnesota's Board of Regents."We are delighted that Richard McFarland has agreed to join us at McKnight," says Erika L. Binger, board chair and great-granddaughter of founders William L. and Maude L. McKnight. "Dick's rich history in Minnesota philanthropy offers a unique, invaluable complement to our continuing work. In addition to his fresh, thoughtful perspective, we are also grateful for the opportunity to benefit from Dick's personal sensibilities and integrity. All the gifts he brings to our table will help inform and enrich McKnight's continuing strategies to strengthen communities, families, and individuals."Including McFarland, the Foundation's board now has 11 members: Benjamen M. Binger, Erika L. Binger, James M. Binger, Patricia S. Binger, Peggy J. Birk, Cynthia Binger Boynton, Meghan Binger Brown, Zeke Brown, Noa Staryk, and Ted Staryk. Cynthia and James are the children of James H. Binger (1916-2004) and Virginia McKnight Binger (1916-2002), the only child of McKnight's founders. In August, Peggy J. Birk—currently the only other nonfamily director—will step down temporarily from McKnight's board. Birk will serve as interim president while the Foundation conducts a formal search to replace outgoing president Rip Rapson.About The McKnight FoundationFounded in 1953 and endowed by William L. McKnight and Maude L. McKnight, the Foundation has assets of approximately $2 billion and granted about $85 million in 2004. Mr. McKnight was one of the early leaders of the 3M Company, although the Foundation is independent of 3M. For more information about the Foundation and its programs, please visit our website at www.mcknight.org.