When we were first married our neighbor lady (may she RIP) made doughnuts every Saturday. She took orders and sold them out of her house. They were so good. She gave me her recipe shortly before she went the a nursing home.
Doughnuts for 5-6 dozen.
6 tablespoons margarine, melted
2 cups of sugar
1 tsp vanilla
1/2 tsp salt
6 eggs
4 cups whole milk
5 tsp baking powder
1 tsp soda
1 tsp nutmeg (optional)
6-8 cups flour
Melt margarine. Add sugar, and salt. Beat with a mixer. Add vanilla, eggs and milk. Beat. Add baking powder and soda and nutmeg to the flour, use enough flour to make a soft dough, not sticky. Roll out to about 1/4" Cut with a doughnut cutter. Fry in lard or shortening which should not be too hot, just so you can see it smoke a little. Fry one side until light brown and turn them over. Take out with a fork and put on paper.
Now this was her trick for them not being greasy. She had a saucepan full of boiling water on the range. When she took them out of the grease she quick dipped the doughnut in the boiling water.