LEC Foundation FAQs

  • What are the differences between the Lake Eau Claire Association, the Lake Eau Claire Protection and Rehabilitation District, and the Lake Eau Claire Foundation Fund?

    Lake Eau Claire Association - The Lake Eau Claire Association (Friends of Lake Eau Claire) is a non-profit 501(c)(3) organization, dedicated to protecting and improving the water quality and fishery of Lake Eau Claire for the benefit of all who enjoy Lake Eau Claire. The main goal of the association is to fund raise for operational needs and special projects that are needed on Lake Eau Claire.

    Lake Eau Claire Protection and Rehabilitation District - Lake districts are governmental bodies with elected or appointed leaders and annual budgets funded from tax levies or special assessments. The boundaries of a lake district usually include the property of all riparian owners and can include off-lake property that benefits from the lake or affects the lake's watershed. The primary responsibilities of the District Board are to define the scope and oversee the projects as defined in the Lake Management Plan and establish the annual budget to conduct the defined projects. Final decisions on these responsibilities are approved by public vote at the annual meeting in August of each year.

    Lake Eau Claire Foundation Fund - This fund will support efforts to benefit Lake Eau Claire including, but not limited to, lake quality and sustainability and enhancement of recreational opportunities in perpetuity. The fund is designed to continue for generations to come.

  • What is the Eau Claire Community Foundation?

    The Eau Claire Community Foundation (ECCF) helps you support charities you care about. You can donate to its existing Funds or create your own, either now or through your estate. ECCF invests the money, and the earnings support grants to nonprofits. Your gift will benefit our community forever. As a tax-exempt public charity, ECCF establishes endowments that are invested to provide long-term support for charitable purposes. When the endowment principals earn interest and dividends over time, the earnings are distributed to local non-profit organizations. As a 501(c)(3) organization, ECCF provides donors the flexibility to donate cash, stocks, property, bequests and other assets in a way that qualifies for the maximum tax deduction for charitable contributions under IRS rules.

  • If I contribute to the Lake Eau Claire Foundation Fund, how does that differ from the donations I make to the Lake Eau Claire Association?

    Donations to the Lake Eau Claire Foundation Fund will be deposited into a Designated Endowment Fund, managed by the ECCF. 

    Donations made to the Lake Eau Claire Association (Friends of Lake Eau Claire) are deposited into their operational account and can be designated for a specific project. These funds can be spent on ongoing projects/needs at the direction of the 15-person board of directors.

  • Can the Eau Claire Community Foundation use our funds for other projects?

    The Fund Agreement dictates that the spendable balance from the Lake Eau Claire Foundation funds will only be released to the Lake Eau Claire Association.  Funds can only be used in this way. The Lake Eau Claire Association Board will make decisions on how the spendable is used to support Lake Eau Claire.

  • Is the ECCF able to assist me with gifts of stock or IRA Qualified Charitable Distributions?

    Yes. The ECCF is able to conveniently serve as a partner to accept gifts of stock/securities/mutual funds and distributions from IRA accounts to the Lake Eau Claire Foundation.

    Gifts of Stock

    • Avoid capital gains taxes on the transfer and deduct the fair-market value of the asset.
    • Stocks can be transferred to Morgan Stanley/ECCF using the instructions on page 2 of the attached document.
    • Please initiate any stock transfer no later than December 15 if activity is intended for 2025 tax year.

    Giving through your IRA

    • Individuals over age 70 ½ can contribute to the Lake Eau Claire Foundation through their IRA.
    • Designating the Required Minimum Distribution (RMD) to the Lake Eau Claire Foundation at ECCF can help to reduce your taxable income.

    If a gift of stock or IRA contribution is incoming please contact Joe Carlson at ECCF at joe.carlson@eccfwi.org or (715) 552-3801 to ensure that the gift is properly allocated to the Lake Eau Claire Foundation when it arrives. ECCF can communicate directly with your financial advisor or other professional or your behalf to get these gifts transferred if you desire.

  • If for some reason in the future, the Lake Association were to dissolve, can the Lake Eau Claire Association board appoint/reassign ownership to another entity to receive the funds each year, for example, the Lake Eau Claire District?

    Yes. If the Lake Association ceases to exist, the intention is that these funds would support whatever entity continues to support Lake Eau Claire. Spendable funds from the Lake Eau Claire Foundation Designated Fund will support the activities of the Lake Eau Claire Association, the Lake Eau Claire Protection & Rehabilitation District and the Eau Claire River Watershed Association.  The money is released to the Lake Eau Claire Association, whose Board of Directors will oversee the use of the funds.

  • How does the fund grow over time?

    The funds grow in two ways, 1/ New contributions from Supporters and 2/ Interest earned on the fund principle (see below).

    All interest earned is added to the fund principal. The Eau Claire Community Foundation (ECCF) investment policy targets fund growth in the 6-8% range annually.

    Example calculation:

    • Starting balance: $100,000
    • Annual earnings (9%): $9,000
    • Annual distributions:
      • Spendable amount (4%): $4,000
      • Administrative fee (1%): $1,000
      • Investment fees (0.28%): $280
      • Total distributions: $5,280
    • Remaining to reinvest: $3,720
    • New balance entering Year 2: $103,720

    Any earnings not used for the annual spendable amount, investment fees, or administrative fees are rolled back into the fund, allowing compound interest to grow the principal over time.

  • Does the Lake Association have any potential projects that may qualify for the foundation funds to be used towards?

    Yes. The funds could be used for sediment removal should existing funding sources be eliminated or reduced.  If warranted, the funds could be used to create new sediment traps or expand existing traps; they could also be used to improve fish habitat by expanding our fish crib program or introducing a new program.  These funds would also allow the association to explore new or alternative solutions to address areas such as lake run-off, blue-green algae, oxygenation, invasive species, erosion or other factors that impact Lake Eau Claire’s health.

    Important Note: The foundation funds will NOT be used for annual operational expenses such as insurance, web site hosting or fireworks. These will continue to be funded through existing channels.

  • How is the fund managed by the EC community foundation? (Does it become part of a whole or completely separate account/fund investments from other EC Community managed money/accounts?)

    The various Funds entrusted to the Eau Claire Community Foundation are invested together. Each Fund has separate accounting to ensure that balances stay separate.

    There are four options for investment:  Diversified & Socially Responsible Investment (SRI) Portfolio  [ separate options ]; Intermediate Portfolio; and Money Market. 

    ** Currently the Lake Eau Claire Foundation is invested in the Diversified Long Term fund (this is our default).  The type of fund you are invested in can be changed one time per year.

  • About how many separate funds like LEC fund does the ECCF already manage?

    There are 401 funds within ECCF.  Currently there are 38 Funds which are Designated, (same category as the Lake Eau Claire Foundation).

  • What visibility do contributors have to the specific LEC fund within the ECCF?  ie is there the ability to log into to the account and view investments and performance? 


    There is a monthly Fund Statement which can be accessed through the online portal.  ECCF emails out quarterly statements.Mike & Heidi Conner have access to this as the founding donors and the LECA President will also have access as the Lake Eau Claire Association contact