The Lake Mills Area Community Foundation, Inc. was founded in 1996 to serve the community in ways that enhance the quality of life and promote the betterment of the community and its citizens. Trinity Pines Retirement Center, Inc. made the lead donation of $10,000. The Foundation accepts donations in a variety of forms and awards grants to worthy community projects and organizations. The Foundation is a non-profit 501(C)3 agency and therefore donations to the Foundation are tax-deductible to the full extent allowed by the tax laws.

Through the generosity of both individuals and other entities in the community, the Foundation has established as its core an Endowment Fund and uses only the earnings from this fund to make its grant awards. This assures donors that gifts to the Endowment will live on, impacting the community in perpetuity. Fund drives in 2005 and 2006 as well as several gifts in late 2008 and early 2009 have allowed the Endowment Fund to steadily grow.

Through the generosity of Brad and Peggy Vail the Foundation has been able to establish a Recognition Courtyard in the Commons Park. Dedicated in 2008, the Courtyard is a place where the Foundation can provide a permanent tribute to its donors.

Over the years, the Lake Mills Area Community Foundation has been able to spread its charitable arm over a number of different worthy projects. Recent recipients of Foundation grants include Relay for Life, the Main Street Program, Rainbow Hospice, Rock Lake Activity Center and the Jefferson County Literacy Council.