Stewardship in Action

STEWARDSHIP IN ACTION

Donors to the Three Lakes Community Foundation recognize that we take our job as stewards of their generosity seriously. They understand that to make Three Lakes THE premier place to live, work, and play, collaboration with local organizations is essential. Recent projects demonstrate our commitment to supporting various aspects of our community, from preserving our community’s history, evidenced by our recent grant to the Three Lakes Historical Society’s Johnson House Project, to creating a sustainable food source for Three Lakes School District students.

The following will provide a clear basis for understanding how your community foundation operates, with a particular emphasis on fiduciary matters, oversight, and honoring donor intent.

FIDUCIARY MATTERS

Protecting and managing your donations enables the Board of Directors to distribute grants intentionally within the community, which is the primary purpose of the Three Lakes Community Foundation.

At our inception, we established an endowment at the Community Foundation of North Central Wisconsin (CFONCW) in Wausau, a common practice among many small community foundations, including those in Antigo, Boulder Junction, and Merrill. CFONCW, as fiduciaries, provided, and continues to provide, expertise in managing these funds through its paid staff, who are trained in professional administrative, accounting, and reporting services.

Recently, we opened a current fund at Heck Capital Advisors in Rhinelander. Our goal in doing so was twofold. First, we desired to have a local fiduciary assist us with our goals. Second, creating an account at Heck Capital enables us to generate non-endowed funds for local organizations and begin building lasting legacies.

OVERSIGHT

Our fund development team upholds our investment policy and is accountable to the board of directors and donor designations. This team oversees a diversified investment portfolio, balancing risk and return for each of its funds by completing the following:

• Meets with the investment advisor to check the performance of the chosen portfolio(s) twice a year or as needed and reports back to the board
• Monitors and reviews all costs associated with investments, including administrative fees
• Avoids leveraged investments (cryptocurrency, junk bonds, and some REITs)

HONORING DONOR INTENT

Our funds help people invest in the causes they care about most. From organizations that advance the preservation of our past, such as the Three Lakes Historical Society, to the current town project, the Three Lakes Veterans Memorial, we honor the donor’s intent.

Your designated gifts have a greater impact in the community because 100 percent of the donation will be given to your selected cause. If you would like to learn about the community’s current needs or what’s happening in the community, please contact us today!