4138-R1_ML&P_LSLA_Web_SummerNewsletter

LSLA Endowment Fund... What is an endowment?

Merriam-Webster defines the word endowment as “the act of providing money to create or support a school, organization, etc.” In simple terms, it is a great way to fund ongoing operations with a self-sustaining revenue stream. Many non-profits strive for large endowment funds so that the interest from the funds can be used to fuel their operations while leaving the principal alone for dire emergencies. For the Little Sebago Lake Association, this is why we established our endowment fund. Our “dire emergency” would be the Hopkins Dam if it ever became damaged or in need or extensive repairs. That dam is what keeps our lake at the height it is today. Without it, our lake could be reduced to a river, not to mention the tragedy that could happen downstream from the dam. We hope to build that fund up for the day the dam does need an expensive overhaul. As for the interest from the endowment, we still fight milfoil every year pulling hundreds of bags using our specialized boats and all the equipment needing maintenance. Without the association, that weed could overtake the lake reducing motor boating and all the fun activities that go along with it. Think about the loss of good memories for years to come. We also try to provide piece of mind while out on the lake by maintaining a safety patrol boat. It is used to meet as many folks on the lake as possible, educating about how to protect and preserve our resources. We are out there as much as possible encouraging safety. It’s all about educating safety and preservation, protecting those good memories. We also work to keep the lower narrows open every spring by utilizing expensive suction dredging equipment to take away all the new sand that builds up from the previous season. Without this effort, only a few very small vessels could go between the lower and middle lakes.

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