I don't make them anymore but, I used the dreaded Crisco!
That's what my mother used.
Remember Aunt Jenny from Spry?
The other day I read an old cookbook where after the doughnut was fried, in lard, they immediately dunked it in boiling water for a split second and then placed it on brown paper to drain. The recipe said that this procedure removes much of the grease from the doughnut and creates a superior product. Are any of you familiar with that, it was new to me.