DLAF is a non-profit, tax-exempt trust. It was formed in 1975 by the Community Development Corporation of Devils Lake, to provide a method for philanthropy. The income from this Foundation must be used for charitable, religious, education, scientific or literary purposes in the Devils Lake Area. It is a permanent endowment fund which means the principal (contributions) remains invested and only the income is distributed.
The general fund issues grants through an application process semi-annually. There are several sub-funds that have designated charitable beneficiaries and/or designated causes. Between the general fund and the sub-funds, DLAF has distributed over $3 million to over 200 charities.
The Distribution Committee meets twice a year to review the applications and then distributes the income to qualifying organizations for qualifying requests.