Patriot Foundation Receives $100,000 Anonymous Donation
A foundation in Pequot Lakes recently received an anonymous gift that will increase their size more than tenfold.
The Patriot Foundation in Pequot Lakes recently received a $100,000 anonymous donation. The Patriot Foundation is a non-profit organization that provides scholarships and funding to enhance opportunities in the arts, academics, athletics, and activities in the Pequot Lakes School District.
“As we know, school district funds can’t be used for scholarships for students, and we want to have ways we can help our kids, and that’s what this is all about: providing revenue to do those things that school dollars can’t,” said Chris Lindholm, Pequot Lakes Schools Superintendent.
The Patriot Foundation was dissolved in 2011 after being founded in the ’80s. It has recently been relaunched thanks to a new partnership with the Initiative Foundation. The $100,000 gift will be able to grow to more than $175,000 in the next 25 years, and during that time will provide more than $130,000 in grants and scholarships.
“I and some other folks felt it was far too important to have, and so we relaunched it in 2018 under the umbrella of the Initiative Foundation. What makes that special is the Initiative Foundation allows the endowment structure. So this is an endowed fund that grows over time and provides revenue in perpetuity,” explained Lindholm.
The Pequot Lakes School District hopes to keep growing the Patriot Foundation over the years. Community members and businesses can donate to the foundation all year round.