General Funds of the Lake Mills Area Community Foundation include:

The Scott Alan Ferguson Scholarship Fund
This scholarship endowment fund was established with a gift of $1,000,000 to the Foundation by Scott Alan Ferguson, a former Lake Mills resident and Lake Mills High School graduate (Class of 1974). Two Scott Alan Ferguson $20,000 ($5000/yr) scholarships will be awarded annually, beginning in May 2011, to graduating seniors at Lake Mills High School who have chosen to pursue further studies in Engineering, Science or Business.
Fiberdome Charitable Fund
Fiberdome Incorporated set up a donor-advised fund with a $30,000 gift to the Foundation.
Unrestricted Fund
This fund is used as an operating fund from which disbursements are made against Foundation obligations, including but not limited to, Foundation grants and Foundation operating / administrative expenses.
Foundation Endowment Fund
This fund was established by the Foundation as an endowment fund. Donations directed to this fund are added to the endowment principal. Only a small percentrage of this fund (4-5%) may be distributed each year. These distributions are made to the Foundations Grant Program.
LMHS Co-Curricular Activities Fund
This fund was established by an anonymous donor for the purpose of supporting co-curricular activities in the Lake Mills Public School System.
LMHS Distinguished Alumni/Community Service Award Fund
This fund was established to support the Lake Mills High School Distinguished Alumni and Community Service Award Program. Any expenses incurred in the administration of this program may be covered by this fund.
Setz Scholarship Fund
This fund was established as a scholarship endowment 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.
Alumni Scholarship Fund
This fund has been established as a scholarship endowment fund. The lead donation was made by a group of past recipients of the Lake Mills High School Distinguished Alumni Award. In awarding scholarships to graduates of Lake Mills High School, only a fixed percentage (4%) of the endowment may be used each year.
Arts Alliance of Greate Lake Mills Fund
This fund was established through a partnership between the Foundation and the Arts Alliance of Greater Lake Mills to encourage and promote the arts in the Lake Mills Area.
Trinity Pines Lifeline Fund
This fund was established to support the Lifeline Medical Alert System provided to residents of the Trinity Pines Retirement Center.
Tyranena Ladies Club Fund
This fund was established by gifts made in the memory of Mary Nahn with funds distributed annually to Christmas Neighbors.