2019 Annual Report
Dear Lake Mills Community Members,
The Board of Directors of the Lake Mills Area Community Foundation (LMACF) is pleased to provide you with our 2019 Annual Financial Report and summary of activities. Through the mission of enhancing the quality of life of those who live, work, and play in the community of Lake Mills and surrounding area that it serves, the LMACF seeks to accomplish these objectives through the promotion and facilitation of charitable donations and the awarding of grants to worthy projects and organizations in the community.
Thanks to the continued generosity of our donors who care deeply for our community, the Foundation was able to grow the assets of the LMACF to $3,602,514 as of December 31, 2019, through strong investment gains and over $100,000 in community contributions in 2019. More importantly, the Foundation facilitated the distribution of donations and grants to many projects, organizations, and causes totaling almost $60,000, and approximately $82,000 in scholarship awards to several local young adults to help them with the cost of their educational dreams.
The largest grant in 2019 was awarded to the Lake Mills EMS for $40,000 to assist with the purchase of a new Power Cot system for one of its ambulances. This award was made possible by combining the resources of our Endowment Fund, Public Safety Fund, and a generous donation from a local private citizen. Supporting our area’s first responders didn’t stop with just human beings, as the Foundation was also proud to grant $10,000 to the Lake Mills Police Department’s K-9 program to help with the costs of adding a new four-legged member to their force named Truman.
Some of the other causes and organizations that also received donations and grants from LMACF in 2019 were: LM Food Pantry, LM Fireworks, Friends of LD Fargo Public Library, LM Main Street Program, LM City Band, LM Area Chamber of Commerce, LM Arts Alliance, LM Community Meals Program, and the Rock Lake Activity Center. Those representing other area charitable organizations and causes are encouraged to contact a board member or visit our new website at www.LMACF.org to learn more about the process and requirements of applying for a grant.
The LMACF Endowment Fund has grown to $688,955 as the result of investment gains and many years of generous donations from community members. This fund is vital to the long term sustainability of the Foundation, since only earnings are used to make grants to worthy causes which are consistent with the mission of the Foundation. Early in 2019 the Board of Directors established a goal of reaching $1,000,000 in the Endowment Fund by 2022 through our “March to a Million” campaign, so please consider supporting this Fund that creates sustainable long term gifts to the community in perpetuity.
Donors interested in giving to the Endowment or any of the numerous funds listed in our full financial report, can visit our website for online options or mail a check to PO Box 33 Lake Mills, WI 53551, made payable to Lake Mills Area Community Foundation Inc. and designating their fund of choice to receive the donation. One of the major advantages of the LMACF being an IRS qualified 501(c)(3) Charitable Foundation, is donors may give in a number of ways, including cash, transfer of highly appreciated investments or property, bequests through life insurance and retirement plan beneficiary designations, or name the Foundation in a person’s will or estate plan. These various methods of giving can be used in order to pass on donations in the most tax efficient way. For more information, please visit the website or reach out to one of our Board members directly.
Early in 2020, our world and our local community have had to cope with the health and economic crisis of the Covid-19 coronavirus pandemic. We anticipate the fallout from this pandemic will make it financially challenging for area non-profits and public agencies to meet the needs for recovery from this potentially disastrous crisis. The LMACF has established a new pass-through Covid-19 Recovery Fund to receive donations to benefit those in the Lake Mills area in financial need as a result of the pandemic. The Foundation has agreed to match all donations up to $20,000, waiving all administrative fees. Grants will be made to local non-profit or civic organizations after careful consideration of all applications with the goal of assisting as many qualified recipients as possible. More information and an online application can be accessed on our website.
As we move forward into 2020, we hope that area residents will consider being a part of the active work of the Foundation as we strive to make our community both a wonderful place to call home and an exciting destination for others to visit. Whether your desire is to support local initiatives in Health & Education, Arts & Culture, Environmental, Public Safety, Programs for Youth & Elderly, Parks & Recreation, or Vocational Development within our community, the Lake Mills Area Community Foundation serves as the portal to accomplish all of those initiatives.
With Sincere Gratitude,
Aaron M. Genthe, Foundation President
Pam Rogers, Vice President
Ken Stetson, Treasurer
Kerry Denson, Secretary
Carol J. Burrows, Director
Peggy Draeger, Director
Wayne Magnussen, Director
Brian Watson, Director
Amanda Thompson, Director
Jay Smith, At-Large Director
Mallory Hines, Admin. Assistant