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Lake Cities Education Foundation reports $3.47 million in assets, awards $87,025 in scholarships
Summary
The Lake Cities Education Foundation told the Lake Dallas ISD board it held $3.47 million in cash and investments and nearly $1.9 million in endowments at mid‑2025; the foundation awarded 46 scholarships totaling $87,025 and reaffirmed plans for upcoming fundraising events.
Carla Landrum, executive director of the Lake Cities Education Foundation, presented the foundation’s annual update to the Lake Dallas ISD Board of Trustees, reporting $3,470,191.92 in cash and investments—an increase of $503,225 since December 2024—and endowments of roughly $1.9 million.
Landrum said the foundation awarded 46 scholarships totaling $87,025 in May 2025 and distributed $57,000 in teacher grants. She noted a $35,000 grant from the Josephine Hughes Sterling Foundation was divided evenly between scholarships and teacher grants. Since 2001, the foundation has awarded $878,075 in scholarships to 539 Lake Dallas High School seniors.
The foundation’s investment policy targets a 5% return on endowed funds so awards can be sustained while preserving principal, Landrum said. She added that some donations are structured as pass‑through gifts that are distributed immediately rather than placed in endowments.
Landrum reviewed recent fundraising events: the golf tournament (held June 6, 2025, at Cowboys Golf Club) had one flight of 144 golfers, grossed $96,769.69 and produced net proceeds of $51,074.98. The gala (noted in the report as Nov. 5, 2025, at an Embassy Suites in Denton) registered roughly 394 attendees including online bidders, grossed $155,576.20 and netted $101,424.66. Landrum credited Tim and Tina Hicks’ matching pledge for boosting gala proceeds; roughly $19,000 was pledged at the event and Hicks donated $20,000, with specified endowment awards distributed that night.
Landrum said the foundation supports grants across all five district campuses for items ranging from pre‑K materials to CTE audiovisual equipment, and she invited the board and community to upcoming events: a scholarship awards reception May 14 (6:30 p.m.) at the Lake Dallas ISD Event Center, the Memorial Golf Tournament June 5 at Cowboys Golf Club, and the annual gala/auction Nov. 11 at the Denton Embassy Suites.
During questions, a board member asked whether the foundation could diversify fundraising to support staff appreciation or other district‑wide initiatives. Landrum said the current bylaws limit distributions to scholarships and grants but can be amended; she confirmed the foundation accepts pass‑through gifts and has already received several for this round of awards.
The board had no further questions and thanked Landrum for the update.
