Legacy FAQs

Our FAQs cover the most common questions we’ve received about the organization.

About Legacy

Why was Legacy created when Protect Lake Beulah (PLB) already exists?

Legacy was created to work alongside Protect Lake Beulah, not replace it. PLB is a member-driven 501(c)(4) organization that tackles the lake’s current and near-term needs. Legacy is a separate 501(c)(3) charitable organization built to grow long-term financial support for the lake.

Donations to Legacy are tax-deductible and invested as permanent principal, much like a college endowment. The investment earnings are returned to PLB each year to support its mission. Legacy is also set up to accept larger gifts and end-of-life bequests, so resources are available for future generations.

Legacy and PLB are separate, independent organizations. PLB has no oversight authority, no approval rights over Legacy’s operations, and no access to Legacy’s funds. Legacy governs its own activities and finances.

PLB is already identifying projects that Legacy funding could support, such as fish habitat enhancement, aquatic plant control, invasive species management, shoreline preservation, and water quality monitoring. PLB will submit project summaries covering goals, timing, budget, and expected impact. Legacy will review these proposals and independently decide which ones to fund.

Once a project is approved, PLB will carry out the work, track finances, and report progress, while Legacy will reimburse approved expenses and maintains the required charitable records.

Fundraising Goals & Financial Impact

What are Legacy's fundraising goals?

Legacy aims to raise $100,000 in 2026, $300,000 by 2028, and $500,000 by 2030. The long-term goal is a $1 million-plus fund that provides lasting support for Protect Lake Beulah and overall lake stewardship.

Annual support depends on investment performance. Using a conservative estimate of approximately 4.75% annual returns, a $100,000 fund could generate about $4,800 a year for PLB. A $1 million fund could generate close to $48,000 a year.

Legacy grows through a compounding cycle; as donations and bequests add to the principal, the fund gets larger, and a larger principal generates larger annual payouts. Over time, this directs more resources toward PLB’s conservation and improvement work.

Partnering with Greater Milwaukee Foundation

Who manages Legacy's investments?

Legacy doesn’t manage its own funds. The Greater Milwaukee Foundation (GMF) handles investment management on Legacy’s behalf.

GMF is one of the nation’s oldest and largest community foundations, overseeing more than 1,500 charitable funds, including environmental organizations.

GMF manages about $1.1 billion in assets and returns tens of millions of dollars annually to the funds it administers, including $75 million in 2024 to funds similar to Legacy. Legacy chose GMF for its experience, reputation, nonprofit expertise, and reasonable administration fees.

Beyond investment management, the partnership connects Legacy to the knowledge, tools, and experience of other environmental organizations and donors already working with GMF across southeastern Wisconsin. It also opens the door to potential future grants from other GMF-network funds, which could grow Legacy’s principal and long-term impact.

Because managing charitable 501(c)(3) funds and distributions is GMF’s core mission, not a side offering. Fidelity, Schwab, and Vanguard are for-profit financial institutions, while GMF is a nonprofit public foundation that specializes in charitable fund management and grant distribution — making it a better fit for an endowment like Legacy’s.

Progress & Accountability

How will Legacy measure success?
Success means more than fund growth. Legacy also looks at how many donors it attracts, how large and impactful the lake initiatives it supports become, and how well it strengthens engagement, education, trust, and collaboration among lake users, the community, PLB, the Lake Beulah Management District, and other like-minded organizations.

Legacy has more than 35 donors as of August 2026, donating through cash, stock, and Venmo, whose donations total more than 60% of Legacy’s $100,000 goal for 2026. Several donors have also named Legacy in their estate plans, and the organization has built relationships with PLB, the Lake Beulah Management District, and other community leaders. Legacy leaders have noted growing energy, enthusiasm, and momentum behind the effort.

Yes. Legacy leaders are among its largest financial contributors, based on donor participation, contribution amounts, and share of funds raised toward its goals. Leaders also actively promote the mission and help connect interested supporters with ways to get involved.

We invite you to browse this website to learn more about our mission, leadership, and why donors are supporting Legacy.

If you interested in supporting Legacy, our Support Us page lists several ways you can give.

If you have additional questions, please contact us.