Pederson leaves $1.2 million in endowment for Lincoln County groups

A lifelong resident of Libby has left more than $1 million in estate gifts for Lincoln County.

Bob Pederson, who died in September, set aside the $1.2 million to create the Robert G. Pedersen Endowment. This permanent fund will offer around $50,000 annually for the Libby area by 2024, according to a press release from the Montana Community Foundation.

Pederson also gave $233,000 to the Cabinet Peaks Medical Center Foundation to help the hospital adapt to the changing health care needs of the area. The Libby School District received $52,000 from Pederson’s estate to support its student scholarship fund.

Growing up in Libby, Pederson was an avid angler and hunter. After graduating from Libby High School in 1948, he worked briefly for J. Neils Lumber Company before enlisting in the U.S. Air Force. During his service, he repaired the cameras used on the B-29 Superfortress.

He later enrolled at Gonzaga University and graduated first in his class as an electrical engineer. After school, he returned to Libby and began working again with the J. Neils Lumber Company and the St. Regis Lumber Company.

Lincoln County Community Foundation will announce the Robert G. Pedersen Endowment’s first grant cycle in 2022.