TYPES OF FUNDS
Here are some details for the types of funds the Foundation carries.
LMACF Endowment Fund
This permanent fund was established by the LMACF as an endowment fund to provide the opportunity for a donation to continue giving into perpetuity. Donations of any amount directed to the Endowment Fund are added to the principal, and then only a portion of the growth and earnings (approximately 4-5%) are distributed annually to worthy projects and causes in the form of grants. Community organizations and individuals can apply through the Foundation's Grant Request Program with their description of the charitable project or cause that shares the basic mission of serving and enriching the lives of those who live, work, and spend their leisure time in the Lake Mills Area.
This fund is the most flexible and unrestrictive option to give to the Lake Mills Area Community Foundation (LMACF). Funds in this account can be used annually to cover the ever-changing current year, and likely shorter terms, needs of the community with smaller donation/sponsorship type requests. Annual Foundation obligations, like operating/administrative expenses and some management fees, are also paid out of this fund.
Named Scholarship Funds
Lake Mills High School Alumni Scholarship Fund
This fund was established as a scholarship endowment fund. The lead donation was made by a group of past recipients of the Lake Mills Distinguished Alumni Award. Lake Mills Alums are encouraged to contribute to this fund.
Lake Mills FFA Alumni Scholarship Fund
This scholarship endowment fund was established in 2019 by the FFA Alumni group. Annual scholarships are awarded to graduates of Lake Mills High School pursuing a post-secondary education in any field of study at any school in the U.S.. Any FFA Alumni or agriculture supporters are encouraged to contribute to this fund.
Clinton Setz Scholarship Fund
This fund was established as a scholarship endowment fund with a $100,000 gift from the estate of Clinton Setz Sr. Scholarships are to be awarded in perpetuity based only on earnings and appreciation of the fund.
Scott Alan Ferguson Scholarship Fund
This fund was established by the generosity of the late Scott Alan Ferguson with an initial donation of one million dollars in 2011. It provides scholarships to Lake Mills High School graduates who are pursuing college/university studies in engineering, science or business. This fund is not open to public donations.
Ferguson Family Scholarship Fund
This fund provides scholarships to students from Lake Mills High School pursuing post-secondary education, majoring in mechanical or electrical engineering or business. This fund is not open to public donations.
Lake Mills High School Scholarship Fund
Monetary oversight and administrative coordination of the nine scholarships in this fund was transferred from the LMHS to the foundation in 2015. Named scholarships in this fund include:
The Bugs Sanft Scholarship
The Heinrich Scholarship
The Becky and Lyle Wallace Scholarship
The Marjorie Bradt Scholarship
The Brian Krull Scholarship
The Clara E. Heine Scholarship
The Vera Bohnsack Scholarship
The Marvin Maasch Scholarship
The Rachel Maasch Scholarship
All of the scholarships in this fund are open to public donations.
Richard and Jearnice DeVor Scholarship Fund
This scholarship fund was established through the generosity of Richard E. and Jearnice A. DeVor and provides a scholarship to a graduating Lake Mills High School student pursuing a degree in the field of engineering or science.
Joshua J. Moehrke Scholarship Fund
This scholarship fund has been established in memory of Joshua J. Moehrke, a 2015 LMHS graduate. An annual scholarship in the amount of $3,000 will be awarded to one senior graduating from LMHS, seeking post-secondary education in an accredited educational program in the state of Wisconsin. Candidates majoring in business or marketing will be considered.
Donor Advised Funds
Fiberdome Charitable Fund
This fund was established by Fiberdome Inc. as a donor-advised fund to support local projects and organizations aligned with the overall mission of the LMACF. This fund is not open to public donations.
Arts Alliance of Greater Lake Mills Fund
This fund was established through a partnership between the Foundation and the Arts Alliance of Greater Lake Mills. Distributions from this fund are used to encourage and promote the arts in the Lake Mills Area.
Friends of L.D. Fargo Public Library Fund
This fund was established through a partnership between the Foundation and the Friends of the L.D. Fargo Public Library. Distributions from this fund are used promote programs and facilities of the L.D. Fargo Public Library.
Franklin Else Bandstand Fund
This fund was initially established to support the 2017-2018 restoration project of the Franklin Else Bandstand in Commons Park. The fund accepts donations for those wishing to support the future improvements and needs of the structure.
Field of Interest Funds
COVID-19 Recovery Fund
The Lake Mills Area Community Foundation has established a COVID-19 Recovery Fund to receive donations to benefit those in the Lake Mills area in financial need as a result of the COVID-19 coronavirus pandemic. It is anticipated the pandemic will make it financially challenging for area non-profits and public agencies to meet the needs for recovery from this potentially disastrous economic and health crisis. If you wish to donate or apply for a grant, please follow the link and visit our website.
LM Public Safety Fund
This fund was established after anonymous $25,000 gift in 2017 to offer donors a way to direct their giving to the area's first responders. The Foundation will consider the needs of local Police, Fire, and Emergency Medical Services, and give grants out only to those agencies that meet the criteria of Public Safety for the community as a whole.