“F.O.E.” – Friend of Ed

Cathy Rasmuson, joined by her daughter Natasha von Imhof, held a series of intimate meetings earlier this month with five local nonprofits and presented them with a ribbon-tied certificate with the news that her late husband, Ed Rasmuson, bequeathed donations into their agency endowment accounts.  She explained that the gifts are intended to help them “dream and plan now and in the future.” $1,000,000 went to the Anchorage Concert Association, $1,000,000 to the Anchorage Symphony Orchestra, $1,000,000 to the Anchorage Opera Company, $625,000 to the statewide interfaith group Justice Organizing Interfaith Network (JOIN), and $625,000 to the Anchorage Gospel Rescue Mission.

Friend of Ed

During each presentation, Cathy told the story of a young loan officer who explained why he would not approve a loan to Mr. Rasmuson, then president of the National Bank of Alaska. The young man felt the application was risky and did not “check the appropriate boxes.” Mr. Rasmuson pointed at “F.O.E.” at the top of the application, explaining it meant “Friend of Ed,” and went on to list the qualities of the person applying for the loan. He assured the loan officer the loan was a safe investment. It was approved and paid back on time. Cathy looked around the room and said solemnly, “You are a Friend of Ed. He is investing in you to allow you to dream and plan for the future.”

Sherri Reddick, Executive Director of the Anchorage Symphony Orchestra, was moved to tears and said, “Ed and Cathy have inspired philanthropy in others; I see it in people giving in the ways they have modeled.”

When presenting the gift to JOIN, Cathy recalled Ed’s belief in interfaith work to improve the common good, particularly for the poor and disenfranchised. “The gift is a powerful and affirming demonstration of the confidence you have in us to continue our work far into the future,” said Angela Liston, retired leader of AFACT, which merged with Valley Interfaith Action to become JOIN in 2022.

A Legacy of Giving

The Rasmuson family has a long history of civic engagement in Alaska. In the early 1900s, Swedish immigrants Jenny Olson, a missionary, and Edward Anton “E.A.” Rasmuson, a teacher, met in Yakutat and married. Their daughter Evangeline (Atwood) started the Atwood Foundation in 1962 with her husband, Bob Atwood, to support arts, journalism, history, and other civic enterprises.

Their son Elmer grew up to be a second-generation banker and a community and State leader “committed to seeing Alaska blossom.” Elmer and his mother, Jenny, began the Rasmuson Foundation in 1955 to help make life better in Alaska. Elmer used to say that for a place to thrive, it requires a strong economy, arts, and culture because “when you feed the soul, you have a whole person.”

The importance of supporting all aspects of life in Alaska was passed on to Ed. His daughter, Natasha, said, “My dad was more than a banker; he was a Renaissance man.” This is evidenced by the wide range of areas funded while he was at the helm of the Rasmuson Foundation. Ed had a similarly broad approach with personal contributions, beginning with an early investment he made as a young man in the original Broadway production of Fiddler on the Roof, followed by the many organizations he and Cathy have supported over the years. Cathy pointed out that Ed always had good judgment – she still receives small royalty checks from Fiddler on the Roof.

Support Now and in the Future

“It was moving to hear how much Mr. Rasmuson valued these organizations and why he donated to endowment funds to sustain each organization into the future. The Alaska Community Foundation is honored to steward these funds and his wishes,” said ACF President and CEO Alexandra McKay.

Ben Robinson, General Manager of the Anchorage Opera Company, expressed the significance of the contribution. “This gift not only supports the opera but ensures that the art form will endure,” he said, by sustaining and encouraging local talent and programs.

Dan Dickerson, the treasurer of the Anchorage Opera Company board, recently became a grandfather. On behalf of his grandchild, he said, “I thank you from the future generations for this gift that helps ensure they will have the arts in their lives.”