2020 Annual Report Letter
Dear Lake Mills Community Members,
The Board of Directors of the Lake Mills Area Community Foundation (LMACF) is pleased to provide you with our 2020 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 $4,419,878 as of December 31, 2020, through strong investment gains and over $480,000 in community contributions in 2020. More importantly, the Foundation facilitated the distribution of donations and grants to many projects, organizations, and causes totaling almost $55,000, and approximately $70,000 in scholarship awards to several local young adults to help them with the cost of their educational dreams.
A COVID-19 Recovery Fund was established during 2020. The Foundation matched donor contributions up to $20,000. Donors generously donated approximately $44,500 during the year. All grants from the Foundation are limited to nonprofits and governmental agencies due to IRS regulations. Significant grants totaling $42,000 were paid out to the Lake Mills Chamber of Commerce, Lake Mills Main Street Program, and the Rock Lake Activity Center. These organizations were limited with their fund-raising activities due to the pandemic and would not be able to provide their programs and services to our community and its residents as they have in the past. Other recipients of grants included the FFA Alumni, Lake Mills EMS, and the Keep Covid Out organization.
Some of the other causes and organizations that also received donations and grants from LMACF in 2020 were: LM Arts Alliance, Christmas Neighbors Inc., Humane Society of Jefferson County, Jefferson County Literacy Council, LM Fireworks, and the LM Optimist Club – Adopt a Family. Those representing other area charitable organizations and causes are encouraged to contact a board member or visit our website at www.LMACF.org to learn more about the process and requirements of applying for a grant.
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. Through many generous donations, and a few significant donations, during 2020, this goal was reached. The LMACF Endowment Fund was approximately $1,100,000 as of December 31, 2020. This represents an increase of $417,000 since the beginning of 2020. We wish to continually grow this Endowment Fund for the future of our community and its residents.
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.
We express gratitude to our outgoing Board members, Carol Burrows, Wayne Magnussen, and Ken Stetson. They have served the maximum terms as set by our bylaws. Their dedication, passion, and knowledge has been invaluable. We also wish to welcome Pam Lazaris to our Board.
As we move forward into 2021, 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,
Brian Watson, Foundation President
Pam Rogers, Vice President
Kerry Denson, Treasurer & Secretary
Peggy Draeger, Director
Pam Lazaris, Director
Jay Smith, Director
Amanda Thompson, Director
Aaron Genthe, At-Large Director
Mallory Hines, Admin. Assistant