Treasury Notes

2021 Treasury Notes

With the advent of the covid-19 virus and the state of the country, I was sure we would be using the reserves we had placed aside to meet our operating budget. Because of the generosity of our membership and the careful use of our funds over the years, we started the year knowing we could weather a financial storm and still provide the level of service and protection to our wonderful lake.

During the past year, members who experienced financial challenges kept their membership at the member level while many increased their optional donations. Our overall membership was 215 with almost 90% generously providing an extra donation. Fifty percent donated at the Platinum and Golden Loon level. 2020 ended as our most financially strong year ever.

We continued to support other organizations that share our values like AWWA and the Loon Preservation Committee. We also donated to the Sanbornville Fireman’s Association to purchase needed equipment.

Last year, Craig organized an audit committee which reviewed our financial records and gave us a clean bill of health. The Audit committee provided recommendations to move our organizations to the next level as an organization and financial security. I am looking forward to implementing their recommendations over this year.

We are financially sound, have dedicated members, and have kept true to our original charter of preserving our lake. Please review the list of donors and memorial donations and thank them for their continued support.

Our Preventative Programs Include:

Lake Host Program – We pay lake host trained individuals to inspect boats to prevent exotic plants and animals from ever entering our pristine lake. We also pay a point person to oversee their daily activities and a person to manage the lake host program. At the end of 2018, we received a unanimous grant for five years to help pay for the lake host program.

Water Quality & Weed Watch – We take water samples at least a couple times per year and have them tested at UNH. Our 50+ years of data is often used as the benchmark for other lakes in our state and region. The clarity of the lake is also periodically tested and recorded. Those masked and finned fellows swimming by your cottages are visually testing our lake for any evasive plants or animals in our water. We also support other organizations working to keep our lake as wonderful as it is.

Other Programs

Bob Tucker Memorial Scholarship – Given annually to college bound area residents and children/grandchildren of our members. The $1,000 scholarship is funded only from donations specifically identified for the scholarships.

New Hampshire Lake Association – We are a member of the association. They help with the administrative functions needed for our Lake Host Program and support legislative efforts in New Hampshire.

Loon Preservation Society – For those interested in the loons on Lovell Lake, the Association collects donations and annually forwards the money collected to the NH Loon Preservation Committee.

General Fund

• Lovell Lake Newsletter & Annual Decal
• Liability Insurance
• PO Box Rent & Postage
• Annual Meeting & Boat Parade
• Contributions to our Exotic Plant & Animal War Chest

We are Financially Sound

• We live within our budget that is set each year. We can pay our bills even though most are payable before the annual dues are collected.
• We continue to keep our annual dues at only $25.
• We have been able to make annual contributions to our Exotic Plant and Animal War Chest.
• We will be able to react immediately when threats to our lake arise.
• We can do all this because of the generous donations made by our members, community and town.
• All our officers are volunteers.

Thank you to those on the annual newsletter donor List for their generous donations. Your donations do make a difference.

Now more than ever, it is important that every resident on the lake become a member. Please encourage your non-member neighbors to join.

Best Regards,

Alan Heacock
treasurer@lovelllakeNH.org