5349-R2_ML&P_LSLA_2016_Web_WinterNewsletter_Web

Little Sebago Lake Association Q3 Financial Update We have had another fine year on Little Sebago. Overall, the financial health of Little Sebago Lake Association continues to be very good. Here is a brief update based on the first three quarters of the year: • Year-to-date 2017 total income was $80,397, slightly ahead of last year by $70 or 0.1%. Donations are up significantly but we are behind last year in the grant revenue, sales of merchandise, and endowment gifts. • Year-to-date total expenses were $58,132, lower than last year by $3,436 or 5.6%. The largest differences are in repairs to the boats, merchandise purchases, and payroll. • Year-to-date income was greater than expenses and we show a positive cash flow or surplus of $22,265. Last year at this time our surplus was $18,758, so we are in fine shape again this year. Since sending the initial donation requests this spring, we have received payments from 530 members or 43% of the 1,219 names on the mailing list. Many of our members have made generous increases in giving. We recently sent out dues reminders to 652 residents who have not paid dues or donations yet this year. We are hoping for a strong response to this mailing, so if you receive our reminder please help support the work of our association with a generous gift. In 2015, the LSLABoard 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 2016 was 7.8%, 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 $28,466 and our Reserve Fund totaled $181,787. So far this year, we have received additional gifts for the Endowment totaling $2,120. 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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