Sioux Falls, South Dakota – December 13, 2016. Prairie Family Business Association, an outreach center of the Beacom School of Business at the University of South Dakota, hosted the second annual Edward Shorma Excellence in Family Business Award and Legacy Tour in Moorhead, Minnesota, on Dec. 8. Lillestol Research and the Lillestol Family provided a tour of their facility and shared their family business succession story.

The Anderson Family of Serenity Assisted Living, Inc. in Dilworth, Minnesota, was honored at a reception and dinner as the 2016 recipient of the Edward Shorma Award. Members of the Shorma Family presented the award to four members of the Anderson Family. The Shorma Family shared their family business story including why family businesses are so important to the regional economy.

Serenity Assisted Living, Inc. was founded in 2006 and is celebrating their 10th anniversary this year. Elaine Anderson, first generation in the Anderson Family said, “Receiving the Edward Shorma Excellence in Family Business Award was an incredible honor to recognize the hard work our family has contributed over the past 10 years not only to our business, but the commitment we have made to keep Serenity Assisted Living family owned and operated. It is a real honor to have the hard work, care and investment of all our staff recognized. The award and the Prairie Family Business Association provides a fabulous opportunity to inspect, dissect and improve our business from the inside out and we attribute a lot of our success today to the investment we have made in our family.”

Advisor to the family business, John Satrom, President and CEO of Northwestern Bank, N.A., said, “By embracing the family business succession and transition planning process, the Anderson Family has set a solid foundation for generations to come. This is not only good for them, but good for their residents, their employees and the Dilworth community.”

“The Anderson Family has spent time and energy focusing on their business. They have regularly stepped away from the day-to-day business to plan, prioritize and strategize. We recognize and honor family businesses who have put plans and processes in place, just as the Anderson Family has done,” said Prairie Family Business Executive Director Stephanie Larscheid.

The Edward Shorma Excellence in Family Business Award was established in 2015, to acknowledge and celebrate the importance of family-owned businesses to the economy and the region. This award recognizes multigenerational family businesses with practices and policies that positively impact local business, as well as the neighboring community.