The Board of Directors of the Lake Mills Area Community Foundation (LMACF) is pleased to provide you with our 2018 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 $3,120,971 as the result of over $60,000 in donations in 2018. And more importantly, the Foundation facilitated the distribution of assets and grants to many great projects, organizations, and causes totaling almost $42,000, and over $78,000 in scholarship awards to many local young adults to help them make the most of their educational dreams.
The largest grant this year, came from our newly created Lake Mills Public Safety Fund that was established on the heels of a generous $25,000 donation made late in 2017 from an anonymous donor who felt the desire to give to Police and Fire Protection locally. This donation allowed us to grant over $21,000 to help the LM Police Department purchase a new state of the art Automatic License Reader (“ALR”) camera system for one of their squad cars. The ALR can assist in detecting vehicles involved in Amber Alerts, Silver Alerts, as well as any crime related searches shared by the nationwide Criminal Justice Information System to apprehend criminals who may be in our community. Possibly inspired by this wonderful donation, another local private citizen donated $15,000 to the Public Safety Fund late in 2018 and challenged the LMACF to match this amount, to help the Lake Mills EMS with the purchase of a new Power Cot system for one of their ambulances. We’re excited to announce this commitment has been met, and the Foundation will be giving this wonderful grant out early in 2019.
Some of the other causes and organizations that also received donations and grants from LMACF in 2018 were: LM Fireworks, Friends of LD Fargo Public Library, LM Main Street Program, LM City Band, LM Area Chamber of Commerce, LMHS Orchestra Program, LM Community Meals Program, and the Franklin Else Band Stand Restoration Project. Anyone representing other area charitable organizations and causes are encouraged to contact a board member or visit the website of www.theLMACF.org to learn more about the process and requirements of applying for a grant.
With the rapid growth recently of the Foundation, our Board made the decision to hire a part-time administrative assistant in 2018, and welcomes the talents of local resident Mallory Hines to the organization. Hines will be responsible for keeping the books and records of the Foundation, handling all incoming phone and email requests, developing a new website, promotional flyers and newsletters through the use of her graphic arts talents.
The LMACF Endowment Fund has grown to $606,744 as the result of investment gains and many years of generous donations to the “Friends of the Foundation Campaign”. 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. There is still a fund-raising goal of reaching $1,000,000 in the Endowment Fund, so please consider joining us in supporting this Fund that creates sustainable long term gifts to the community in perpetuity. The year 2021 is only a few short years away and marks the 25 year anniversary of the LMACF. We can’t think of a better way to celebrate our anniversary by accomplishing that $1,000,000 Endowment Fund goal in 2021, and we hope community members will consider joining us with their donations.
Donors interested in giving to the Endowment, or learning more about any of the numerous funds listed in the report below, can contact a board member, or go to the website, or email us at LMACommunityFoundation@gmail.com, 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 gift cash, but also highly appreciated investments, property, leave bequests through life insurance and retirement plan beneficiary designations, or name the Foundation in a person’s will or estate plan in order to pass on these donations in the most tax efficient way. Establishing your very own Donor Advised Fund is also a tremendous way to give a large tax deductible donation in one calendar year, with the plan to disburse the money over several years to worthy causes and projects of your choice that are aligned with the Foundation’s mission. Alternatively, you can fully endow your Donor Advised Fund to last in your name or your family’s name forever. Once again, please visit one of the resources listed above for more information.
As we move forward into 2019, 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 interests through the positive energy and hard work of many individuals all over the area collaborating to build better lives for future generations.
With Sincere Gratitude,
Aaron M. Genthe, Foundation President
Pam Rogers, Vice President
Ken Stetson, Treasurer/Secretary
Carol J. Burrows, Director
Peggy Draeger, Director
Wayne Magnussen, Director
Kerry Denson, Director
Brian Watson, Director
Jay Smith, At-Large Director
Mallory Hines, Admin. Assistant