6892-R3_ML&P_LSLA_2019_WinterNewsletter

Little Sebago Lake Association - Q3 Financial Update It has been another successful year on the lake and overall, Little Sebago LakeAssociation continues to be in strong financial health. Here is a brief update based on the first three quarters of the year: • Year-to-date 2019 total income was $108,920, ahead of last year by $10,671 or 11% mostly due to donations and endowments, and grant revenue which are higher than last year. • Year-to-date total expenses were $105,153, higher than last year by $18,000 or 21%. The largest differences are in repairs to the boats, dam repairs, equipment purchases, and loon protection. Except for the dam repairs, most of these additional expenses were budgeted, and we are mostly on track compared to budget. • Year-to-date income was greater than expenses and we show a positive cash flow or surplus of $3,767. Last year at this time our surplus was $11,096, but we are in fine shape again this year. In mid-September we sent out reminders to 653 residents who had not made donations yet this year. We have seen a decent response to this mailing, so if you received our reminder please help support the work of our association with a generous gift. In 2015, the LSLA Board of Directors decided to partner with the prestigious Maine Community Foundation to manage both the Endowment Fund and the Reserve Fund for the association. The Maine Community Foundation is a statewide public foundation whose core purpose is to work with donors and other partners to improve the quality of life for all Maine people. The Maine Community Foundation (MCF) invests our funds, along with the other assets in their Primary Investment Portfolio, with a goal to preserve and enhance the real value through prudent institutional investment strategies. The rate of return for MCF’s primary portfolio over the 5 years ending in September 2019 was 5.6%, so our funds should generate higher income and growth over time as compared to the alternative of reinvesting in CDs. At the end of September our Endowment totaled $41,830 and our Reserve Fund totaled $234,864. So far this year, we have received additional gifts for the Endowment totaling $8,690. Please consider a generous donation to the Little Sebago Lake Association Endowment Fund as part of your year-end charitable giving. Endowment and Reserves with Maine Community Foundation

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