8334-R3_ML&P_LSLA_2023_SummerNewsletter_Web

LSLA Endowment 2024

The Little Sebago Lake Association (LSLA) will mark its 100th year with a fundraising initiative called 100 for 100 and will ask your help. Since 1924, people have gathered as neighbors and friends to safeguard the lake and its environs. A brief history of the Association, found at https:// littlesebagolake.com/lsla-history/, describes how road repair and maintenance were the major concerns. The $5.00 membership fee addressed these and other concerns. Securing rights to and then maintenance of the dams dominated the agenda in the late 1940’s and early ‘50s. Shoreline property sales accelerated in the post-war years, and increasing numbers of families were able to enjoy the lake. The shoreline is very different today than it was 100 or even 50 years ago. The ecological challenges are very different. Instead of road repair, the Association has taken the lead on addressing milfoil control, water quality, and native habitat protection for birds, relying on the good will and volunteer time of members to achieve goals. Safeguarding the lake properly costs money, and annual dues contribute heavily to paying the bills. The Association board has excelled at securing government and private grants to help underwrite the costs that dues do not cover. There were, however, times when unexpected costs exceeded expenses, and this led to anxious moments. In 2011, the board agreed to establish an endowment that could be used as a financial safeguard to protect the Association from the up and down cycles of costs versus revenue. An initial challenge of $150 by one member was matched with another $150. Ten additional contributions resulted in a total of $3,121.00. The money was invested through the Maine Community Foundation, which manages the funds. As of the year 2023, this amounts to $146,727.

The LSLA policy on the endowments states, The income generated by the endowment may be used as part of the general operating fund of the Association and can be used to pay any reasonable expenses as determined by the Board of Directors or the Treasurer within their relative authorities. In recent years, LSLA has never taken any funds out of the endowment account to help cover general operating expenses. In the most recent years, LSLA funds have shown a budget surplus, so the board decided to leave the earnings in the endowment to continue to grow. We want to present a bold challenge to the Association members. We would like to raise $100,000 for the endowment to celebrate 100 years of remarkable citizen stewardship. Can you help us meet this challenge? A hundred thousand new dollars to the endowment would enable the Association to provide support for projects that further enhance water quality as well as flora and fauna in the lake ecosystem. Other projects discussed in the past included scholarships for student interns to conduct relevant environmental research in coordination with their school or college. There are several ways you can help build this endowment: 1. Checks written specifically to support the endowment. 2. Checks written to honor a special person. 3. Include a gift in your will known as planned giving. All contributions are tax deductible. Anyone from the LSLA board can assist with any questions. We will be providing updates at the Annual Meeting.

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