DLAF was established by the Community Development Corporation of Devils Lake in 1975 to offer a philanthropic channel for supporting charitable, religious, education, scientific, or literary endeavors within the Devils Lake Area. It operates as a permanent endowment fund, ensuring contributions are invested and only the income generated is utilized for these purposes.
The grant program by DLAF aims to distribute the income generated from its endowment fund to support initiatives within the realms of charity, religion, education, science, and literature specifically within the Devils Lake Area. This approach ensures long-term financial sustainability and continuous support for these causes, reflecting the guiding principle of providing a steadfast philanthropic resource to the community.