The Lake Land College Foundation was established exclusively for educational, scientific and charitable purposes. The Foundation assists the College in developing and enhancing the educational opportunities and service to its students, alumni and citizens of the district. The Foundation is chartered under the Internal Revenue Code as a 501 (c) (3) tax exempt, non-profit organization, which may accept gifts of money, property, works of art, historical papers and documents, museum specimens and other materials having educational, artistic or historical value, and by such other proper means as may be deemed advisable. The thrust of the Foundation is to provide student scholarships through funds contributed by individuals, agencies and corporations.