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Lake Cities Education Foundation reports $3M in assets, outlines scholarships and events
Summary
LCEF leaders told the Lake Dallas board that the foundation’s end‑of‑year assets were nearly $3 million and that $1.8 million is designated for endowments; the foundation described recent scholarships, teacher grants and upcoming events.
Carla Landrum, executive director of human resources, and Jerry Blazewick, president of the Lake Cities Education Foundation, briefed the Lake Dallas ISD Board of Trustees on Feb. 17 about the foundation's activities and finances.
Landrum said the foundation's assets at the end of 2024 were "total nearly $3,000,000," and that, as of January, assets had surpassed $3,000,000 with about $1,800,000 designated for endowments. She explained the foundation's endowment policy: the principal is not distributed and annual awards (scholarships or grants) use roughly a 5% payout of the endowed amounts.
The foundation reported awarding 46 scholarships in May 2024 totaling $80,150 and said that since the foundation’s inception in February 2001 it has awarded approximately $791,050 in scholarships to 494 Lake Dallas High School students. Landrum also summarized fundraising events and their net proceeds, including a Memorial Golf Tournament and an annual gala and auction, and noted teacher grant totals: the foundation awarded 16 teacher grants totaling $53,500 in its most recent cycle.
Landrum encouraged interested students to apply (scholarship application deadline cited as March 14) and described upcoming foundation events, including a scholarship awards reception in May and a gala in November. The foundation's application and event information are posted on lakecitiesed.com and district social accounts.
Board members thanked the foundation representatives and there were no motions or votes attached to the update.
