Forever. clear. clean - The FUND for Lake George
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clear. clean.
ANNUAL REPORT
forever.
CONTENTS
4 LEADERSHIP AND ADVISORS
5 LETTER FROM LEADERSHIP
6 FROM MODEL TO MILESTONES
10 THE FOREVER FUND
12 OUR INVESTORS AND SUPPORTERS
14 2017 FINANCIAL SUMMARY
All photographs in this report
are from Lake George.
4 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 5
SUMMER 2018
S TA F F BOARD OF TRUSTEES In 2017 we launched The Model for Enduring Protection of Lake George, The FUND’s master strategic
platform through 2020. The Model is defined by using best-in-class professional science to inform effective
solutions for Lake protection, and the Model is powered by three core operating principles: the use of
partnerships, innovation, and investment to drive success. As one New York State official told us: “you’ve
LEADERSHIP & ADVISORS
discovered a recipe for the secret sauce” on how to protect freshwater lakes.
As highlighted in our report, this recipe has produced a growing record of accomplishments we can all be
proud of—first and foremost for protecting Lake George, but also for inspiring other lakes to learn from our
robust (and replicable) results, that now include:
LETTER FROM LEADERSHIP
• A first-ever science to solutions program for reducing the use of harmful road salt, moving us toward our
goal of achieving a 50% reduction basin-wide by 2020, with the Town of Lake George on track to reach
this goal in 2019;
Eric Siy Jeff Killeen
Executive Director Chairman, Board of Trustees • Measurable water quality improvements resulting from The FUND’s matching grant program, that has
upgraded nearly 20% of septic systems in Dunhams Bay, and which will soon be expanded to other priority
locations in the basin;
Jeff Killeen, Chairman* COUNCIL OF
• A powerful new formula prioritizing the effective management of septic systems, achieved through our
Bob Bailey, Vice Chairman, Chief SCIENCE ADVISORS
Development Officer* NYS-funded partnership with the Town of Lake George;
William Creighton, Vice Chairman* Dr. Jay Bloomfield • Scientific research and direct investments to improve municipal wastewater treatment plants in Lake
Tom West, Secretary, Strategic Initiatives
Dr. Robert A. Daniels George Village and the Town of Bolton;
Officer*
Dr. Stephen A. Norton • Continued leadership and financial engagement with The S.A.V.E. Lake George Partnership that partners
Ike Wolgin, Chief Financial Officer*
Corrina Parnapy with the Lake George Park Commission to make possible the strongest program for aquatic invasive
Lucinda H. Bhavsar
Dr. Jeffrey Short
species prevention in the eastern United States;
David Darrin*
Chris Navitsky, PE George R. Hearst III* Dr. Clifford A. Siegfried • Recognition of The FUND’s Model by the NYS Harmful Algal Bloom (HABs) Initiative that includes Lake
Lake George Waterkeeper
Blair Keller* Dr. James Sutherland George as the “control” lake, citing FUND science and solutions work for preventing HABs as a guiding
best practice for other New York lakes;
Dr. John E. Kelly III
Dr. John Johnston Macionis • Recognition of the Jefferson Project, The FUND’s award-winning collaboration with IBM and RPI, by the
Nancy Reuss NYS HABs Initiative for its data-driven, sensor-powered potential to predict and detect HABs occurrence.
Donald Rice These accomplishments serve as milestone benchmarks to complete the goals of The Model For Enduring
Dr. Linda Schadler* Protection by 2020. Targeted investments by The FUND—nearly $6,000,000 since 2013, and more than
$1,100,000 in 2017 alone—make our approach a high-performance strategic and operating model for
*Executive Committee member
truly focused Lake protection. Fueling our Model is exceptional donor/investor participation inspired by the
accruing returns of our work, along with our continuously growing network of subject-matter-expert partners.
So, it is with deepest gratitude that we thank our investors, donors, partners, advisors, friends, trustees, and
Dede Potter staff for your incredible commitment to our success that will ensure the enduring protection of Lake George.
Director of Finance and Administration
Jeff Killeen Eric Siy Chris Navitsky, PE
Board Chairman Executive Director Lake George Waterkeeper
6 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 7
BOL D L E A DE RSHIP, PARTNERSHIP, AND DIRECT INVESTMENT have placed
us on the path to completing a uniquely effective protection Model for HABs threats
F R O M M O D E L T O M I L E S T O N E S : T H E PAT H
understanding and solving the problems threatening Lake George. As we Lake George was identified
TO COMPLETING THE MODEL FOR ENDURING as one of twelve priority
Skaneateles Lake delegation visit
advance toward completing the Model by 2020, major milestones already
PROTECTION OF LAKE GEORGE BY 2020 met on this path attest to the accelerating power of our work. Unprecedented
lakes across New York State Jefferson Project Smart The FUND hosted and shared Best Practices developed
facing the threat of Harmful
Algal Blooms (HABs).
Sensor Network at Lake George to apply at Skaneateles Lake.
financial support, especially from our LG30 Legacy Group of leadership
The advanced system of 500+
investors, powers our progress and continues to deliver breakthrough results. sensors to monitor progress in
solving water quality problems
is nearing completion.
Success of our septic system Participation in New York State
upgrade matching grant program Harmful Algal Bloom Initiative
Live-edge plow The FUND presented the Model at two
Water quality monitoring shows that the system
With matching grants, the Towns of State summits, sharing how our work
upgrades we funded in Dunhams Bay have led
Hague and Lake George are using can help prevent these outbreaks.
to measurable water quality improvements.
this new plow to reduce salt use.
Septic system
Algae monitoring priority algorithm
First Septic Summit Systematic algae monitoring Monitoring study of water An algorithm was developed
assesses changes to water Study of salt impacts published for prioritizing management Grant to Town of Bolton
The first Septic Summit
quality and clarity related to
quality issues at Bolton Bay Partial funding for a study identifying
shared the latest techniques of septic systems with the The FUND invested $50,000 in the
wastewater, stormwater, and Monitoring study and recommendations road salt contamination of Adirondack Town of Lake George. Bolton Wastewater Treatment Plant
for solving the septic problem. documented the need to upgrade
salt reduction initiatives. Park drinking water wells compels based on monitoring study of needs.
the Wastewater Treatment Plant State leadership to take action.
in the Town of Bolton.
2017 Basin-wide study of application rates
New Lake data Blocking invasives 2018 NYSDOT participation
Financing for and coordination of continuing
Application of Jefferson With S.A.V.E. partners, The assessment by The FUND is key to applying in Road Salt
Project analytics and modeling FUND continued matching appropriate Best Practices (equipment/ Reduction Initiative
integrates physical, chemical, support of boat inspections techniques) town-by-town to reduce salt use. As the largest salt applier, the
and biological data and and decontamination.
State committed to S.A.V.E.’s
ensures ongoing effectiveness initiative to reduce salt use. Town of Lake
of protection measures. George leads basin Business of Lake Protection
Presentation of our Model for Enduring in salt reduction The FUND initiated program to help
Protection to New York State Using our Best Practices businesses engage in protecting
Milfoil treatment State officials are learning from our approach
Agreement, the Town is the Lake that sustains them.
With public and private partners, The S.A.V.E. expands tracking to make the 50%
to solve water quality issues statewide.
FUND invested in removal of 23 tons S.A.V.E. Partnership was expanded reduction goal by 2019.
of milfoil to stop its further spread. to “Stop All inVasives from
Invasives preemption Entering” Lake George to include
THE MODEL FOR ENDURING PROTECTION A matching grant was made for both aquatic and terrestrial species.
inspection and decontamination Commitment for new inspection
The FUND’s investment-driven, science-guided model will culminate in a robust station at Ticonderoga on Lake New scientific paper details value
system of Best Practices powerful enough to ensure enduring protection of Lake and decontamination station
Champlain to preempt invasives of achieving 50% salt reductions
before they reach Lake George. Commitment of State funding for With advocacy by The S.A.V.E. Lake George
George and to serve as a scalable ecosystem solution for fresh waters worldwide. We funded study published in major
Partnership and commitment to purchase
updating the Lake George Village equipment, New York State began building Third Annual Salt Summit science journal presenting the timeframe
Wastewater Treatment Plant a state-of-the-art facility on I-87, just In coordination with S.A.V.E., the Summit and beneficial effects of a 50% reduction
Science of Solutions Salt Reduction focused on advancing Best Practices basin-wide. in salt use, guiding our 2020 goal.
Our water quality monitoring report south of Lake George, to open in 2019.
documented need for plant replacement
in the earliest possible timeframe.
Invasive Species Water Quality and Clarity
8 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 9
Science of Solutions Invasive Species
• Completion of the Jefferson Project Smart Sensor Network • Continuation of the Lake George Aquatic Invasive
to monitor changes across all priority protection initiatives Species (AIS) Prevention Program as national
leader in preventing introduction of invasives
• Application of Jefferson Project analytics and modeling
to integrate physical, chemical, and biological data and • Establishment of a terrestrial invasives
ensure ongoing effectiveness of protection measures prevention program to directly
complement AIS Prevention Program
Clear Vision Clean Lake
20 20
• Systematic algae monitoring that assesses changes
to water quality and clarity related to wastewater, • Creation of a stronger Adirondack AIS
stormwater, and salt reduction initiatives Prevention Program as required to preempt
species from reaching Lake George that limits
• Targeted research that guides establishment the trend of New York being the main point
of new, more effective controls for existing of entry for invasive species nationwide
invasive species in Lake George
• Further reduction or eradication of existing
• Establishment of Lake George as a global destination invasives in Lake George through improved
for the study of freshwater protection techniques guided by latest research
2020 PROTECTION MILESTONES
We are now building on our progress since launching Water Quality and Clarity Salt Reduction
2020 GOALS
The Model for Enduring Protection to realize the 2020
protection milestones set forth here. Our investment-driven WA S T E WAT E R • Basin-wide implementation of the Best
• Completion of formal commitments to treatment plant Practices Agreement for reducing salt 1 Lake George serves as global
success will complete the Model and its sustaining role in
improvements at Lake George Village and Bolton use in both public and private sectors example to inform sustained
protecting Lake George for generations to come.
• Basin-wide application of Best Practices model for • Creation of a new Best Practices protection of freshwater ecosystems.
upgrading priority septic systems leading to water certification program for private
quality and clarity improvement Lake-wide winter maintenance providers
2 No new invasives species
• Expanded funding opportunities to underwrite septic system upgrades resulting in wide participation
• Application of ongoing road salt
enter Lake George.
that aggregate private and public resources to fuel broad participation
• Jefferson Project Smart Sensor Network documentation of water research guiding the most effective
quality changes reinforcing the value of municipal and septic upgrades measures for reducing salt use 3 Lake George provides the
• Jefferson Project Smart Sensor Network nation’s Best Practices model
S T O R M WAT E R monitoring of salt level changes, for reducing salt use.
• LID Certification System adoption by all Lake George reinforcing public/private adherence
municipalities to strengthen stormwater management practices to Best Practices provisions
4 Lake George leads the nation for
• Majority of Lake George municipalities designated as “LID Certified
Communities” requiring all public projects to be certified Best Practices management of
• LID Certification serves as the Best Practices standard for wastewater and stormwater.
the majority of Lake George development projects
10 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 11
MORE THAN ANY OTHER ACTION, strategic
DIRECT INVESTMENT IN PROTECTING LAKE GEORGE: investments leverage FUND partnerships and
THE DEFINING INGREDIENT FOR ENDURING SUCCESS innovations to accelerate protection progress in
the face of mounting threats to Lake health.
Clear Vision Clean Lake
20 20
From the heartwood of The FUND’s LG30 group, The Forever FUND will provide for basin-wide The Forever FUND will establish permanent support
we are growing the next generation of investment expansion of The FUND’s science-guided of The Model for Enduring Protection through
capacity—The Forever FUND—required to Lake protection solutions. directed gifts, grants, pledges, and planned giving
complete The Model for Enduring Protection of opportunities that meet donor priorities to create
Lake George by 2020. their personal legacy for Lake George.
THE FOREVER FUND
2020 GOALS
2018 SECURE INVESTMENT FUNDING REQUIRED TO:
1 Expand implementation of solutions
throughout Lake George.
2 Study and monitor the effectiveness of
Completion of LG 30 membership solutions in protecting Lake George.
The FUND’s LG 30 Legacy Group of investors
has fueled our progress to date. The LG 30’s
continuing financial leadership will be crucial
T H E M U LT I P L I E R E F F E C T:
HARNESSING THE POWER 6x 3 Meet the 2020 milestones to
to achieving our 2020 protection milestones.
OF INVESTMENT LEVERAGE
complete The Model for Enduring
Targeted investments of more than $3 million by The
Protection of Lake George.
FUND in programs sufficiently advanced to document
this effect have leveraged $18.6 million in public/private
4 Provide sustaining support for
partner funding toward Lake protection priorities—on both
science and solutions. implementation of the Model in perpetuity.
12 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 13
INDIVIDUALS & FAMILIES • George and Mary Jane Adams • Emily Adler Boren • Fred and Margaret Alexy • Thomas and Rosemary Alfonso • Roland and Kathe Allen • Andrew and Karen Amerling • Jim Andretta • Michael and Stephanie Angelucci • George
Anker • Anonymous • Kenneth and Rosemarie Arnold • George Articolo • John and Diane Asiel • Elaine Auerbach • James Ayers • David Ayers • Bob and Ginger Bailey • William and Andrea Baldwin • David Ball • Andrew and Irene Bania • John and Ann Barber
OUR INVESTORS • Richard and Carleen Baright • Richard and Ruth Barney • Ben Barrett • Peter and Peggy Barrett • Lionel and Deborah Barthold • Chuck and Kim Barton • James and Seddon Beaty • John T. Beaty and Anne Mehringer • Edward and Sally Becker • Leigh Beeman
• Linda Behan • Eleanor Belive • Paul and Colleen Bell • Russell and Jane Bellico • Robin and Bryan Benak • Carl Bennette and Nancy Howland • Antranig Berberian • Fred and Rosemary Berger • Richard and Janet Berls • Lucinda and Av Bhavsar • Gregory
AND SUPPORTERS and Laura Bibler • Gary and Charleen Bivona • Kenneth Black • Donald and Jayne Blum • Michael Boardman and Kathryn Tabner • John and Mara Borek • Carol Borin • Robert and Mary Bouchard • Stephen and Sylvia Boyce • Norman and Wendy Bradburn •
Richard and Susan Brainard • Betsy Brainard and John Maier • Christopher Brassard • Bruno and Dorothy Brauner • Paul and Brenda Breslin • Heidi Brickner • Carol and Steve Broderick • Jennifer Brorsen and Richard DeMartini • Jamie Brown • Miriam Brown
• Lawrence and Susan Brown • Paul and Kathleen Browning • Douglas and Kim Bryant • Richard and Valerie Buchakjian • Bob and Maureen Buhrmaster • Thomas Burleigh • Richard and Sharon Burstein • Dr. and Mrs. Lawrence J. Busino • Antonio and Norma
Bustamante • Ted and Jane Caldwell • Dale and Catherine Campbell • Dave and Mary Lou Canavan • Anna Carney • Cynthia T. Chamberlin and Keith Mountain • Douglas and Pam Chase • Richard and Alice Chase • Frank Childress • Michael and Lauretta Chrys
• Robert and Alice Cisler • Christopher and Emily Clark • Thomas and Susanne Clune • Henry and Cheryl Clutsam • Alan Coffey Jr • Michael and Mary Louise Coleman • Peter and Tina Collins • Edward Collins • David and Marjorie Comstock • Florence and Brian
Connor • Kenneth and Mary Lou Cooper • Christopher and Deborah Corbett • John and Barbara Costas • Diane N. Cowan • Edward Crabbs • Alison and Bruce Craig • Jane Craigie • William and Dale Creighton • Clyde and Katherine Creveling • John Cronin •
Howard and Margaret Crusey • Charles and Carla Cumming • Barry Cunningham • Patrick and Kathleen Curtin • Dennis E. Curtis and Judith Resnick • Thomas and Diane Damiani • Richard and Patricia Daniels • John D’Arco • Lawrence D’Arco • David Darrin
• Louise Davidson • Dekkers and Barbara Davidson • Estate of Robert Davidson • Roy and Louise Davis • Robert and Holly De Buys • William J. Dean and Pam Hawley-Dean • Philip and Lenore Defliese • James and Lori DeNooyer • Michael and Suzi DeSimone •
Pieter and Phyllis DeSmit • Mark Dichiara • Lorraine and John Dickinson • Robert and Diane Dickson • Charles and Ann Dolin • Linda Donaldson • Bonnie Donnelly • Thomas and Paula D’Orazio • Ellen Dorian • Mary Lou Doulin • Alfred Dunlop and Lynn O. Wilson
• Elizabeth Dybas • William Eastham • Donald and Ann Eberle • Jeffrey and Miriam Eger • Sheldon and Mary Eisenberg • Eleanor Eldredge • Richard and Nancy Elkin • Dean and Nadine Ellerthorpe • Michelle Elliot • Kenneth Ellis • Robert and Trisha End • Estate
of Robert Ervien III • Salvatore and Kathleen Ervolina • Robert and Cheryl Evans • William and Sally Faber • Christopher and Kathleen Fagan • Phillip and Jane Falconer • Donald Fallati and Ruth Pachman • Patrick and Kathryn Fantauzzi • Philip and Cynthia
Farbaniec • Sally and Buddy Faulkner • Rebecca Feigen • Scott Fein and Patricia Martinelli • Leo and Martha Fishel • Allen and Debra Fishner • Robert and Jean Flacke • John Flagg • David and Jane Floyd • Laurence Fogelson • Debra and David Foote • Stuart
Forman and Ellen Hitzrot • James and Phyllis Foster • George and Lesley Froehlich • John and Claire Fulco • Christine Gaetano • Kristopher Gage • Suzanne Gallagher • Lawrence and Elizabeth Garbo • Ann Gardiner • Melissa Geiger • David Gilmour • Jeanie
Gleisner • Bonnie and Glenn Goldberg • Jane and Neil Golub • Bonnie Gontier • Andrew and Marjorie Gorelik • Chuck and Charlotte Gosselink • Wallace Graham • James Grande • Edman and Virginia Gray • Patricia Griffith • Charles and Debra Groneman • Joseph
Guerra • Robert Gwirtzman • William and Ruth Haase • Andrew and Judith Hadjandreas • Thomas Halbach • Arthur Halbritter • Robert and Kathleen Hale • Jules and Gale Halm • Bruce and Kim Hanson • Randall Harmon and Barbara Booth • James and Lori
Anne Harris • Patricia Hasbrouck • Peter and Karie Hayes • Beverly Heineman • Timothy and Lisa Higgins • Robert and Wendy Hill • David and Carolyn Hoeschele • William Hoffman, Jr. • Michael Hogan • David and Stephanie Hollander • Henry and Katrina
Hotchkiss • Robert and Cora May Howe • John and Ellen Hubbard • Paul and Patricia Hummel • Scott and Carole Hunt • Caren Hurley • Kristee Iacobucci • Jane and Paul Ingrey • Robert and Mary Anne Jackson • Thomas James • H. Thomas Jarrett • Gina and
THE LEGACY GROUP Brian Jeckering • Jean Jelliffe • Robert and Susan Johnson • Jeremy Jones • Stewart and Dianne Jones • Steve M. Jones and Mary Nohara • Vijo Joseph • Robert and Carol Kafin • Jean Kahn • David and Tamara Kaiser • Stephen Kalajian • Kevin and Donna Kalled
• Rosemary Kamholz • John and Carol Kanis • Ralph Kaplan • Joel and Janet Karp • Paul Kasselman • Grace Keller and Stephen Sperry • Blair Keller • C. Stuart and Melissa Kelley • Honey-Jo and John E. Kelly III • Sharon Kendall and David Eberle • Victor and
Carol Kessler • Judy and Jeff Killeen • Gerald and Rose Kirwin • Robert and Mary Klebe • Susan Klebl • Alan and Joan Kliger • Ronald and Patricia Knott • Abbey and Michael Kocan • Gloria Koch • Charles and Carol Koehler • Mr. and Mrs. John H. Koerner •
Christine Kopec and D. Alan Wrigley • Donna Korkus • Eric Krantz and Cheryl Tucker • Peter Krihak • Peter and Nancy Kudan • Ginger Kuenzel • Catherine and Jack LaBombard • James Lamb • Douglas and Arlene Langdon • Steven and Linda Lant • Joan and
Ginger and Bob Bailey Honey-Jo and John E. Kelly III Byron Lapham • Judith Larter • Lonnie Lawrence • Elaine Lawrence • Charles and Patricia Lawrence • Stuart and Martha Lazarus • Laura Lee • Larry Leger • Donald and Audrey Lehn • Bobbie and Bob Leiter • Peter and Glenda Lewis • Peter Leyh • Ann and Erik
Lichter • Joseph Loffredo • Warren and Susan Lucas • Scott MacFarland • Nancy Mackay and Henry Bisner • James and Diane Mahar • Linda Mallon and John Mueller • Gerald and Madeline Malovany • Andrew and Joyce Manchester • David and Anne Manchester
Jennifer Brorsen and Richard DeMartini Judy and Jeff Killeen • Roy Marshall • Peter Marshall • Richard Martin • Bernard and Lisa Martinese • Lawrence and Louise Marwill • Douglas and Evelyn Marzloff • John and Stephanie Mason • Stephen and Ann Mason • James and Annmarie Mastin • Thomas and Lauren Mastin •
Mathias Family • Charles and Dolly Mayer • Carolyn Mazzilli • Nancy and Bruce McClellan • Walter and Isabel McConnell • Kevin McMahon • Suzanne and Paul McPhillips • William McVeigh • Richard Mead • Phyllis Meader • Peter Menzies and Gretchen Jordan
The Buhrmaster Family Janet Kireker (1926-2014) • Peter Meyers • Anne Middleton • Jean Miller • Veronica Miller • John and Karen Milvaney • Albert and Katherine Mitchell • Anthony and Joan Mitola • Richard and Barbara Moccia • Christina Moeller Visbal • Milo and Judith Moore • Mariann and Carl Morales
• Ronald and Cappie Morgan • Ernest and Barbara Moritz • George and Anne Morris • Herman and Evelyn Muller • Neil Murray • Jeff and Debbie Myers • Irwin Nathanson • Richard Navitsky and Tanya Leinicke • Chris and Beth Navitsky • Linda Neilson • Francine
Charles R. Wood Foundation Marie and Charlie Kireker and Robert Nemer • Eileen and Joseph Nichols • John Nigro • Raymond and Donna Obssuth • Harry and Kathleen Odabashian • Richard and Christine Oliver • Bill O’Malley • Marie and Mike O’Reilly • Kimberly and Mark Pacala • Robert and Carol Palandrani •
Michael and Lauretta Chrys Margaret A. Darrin Charitable Trust Mark and Debra Pallone • Arthur Papier and Susan Voci • Frank and Delores Parillo • Charles Parker • Richard and Ann Parker • Anna Parlin • James and Elisabeth Parlin • Kenneth and Lauren Parlin • Leonard and Linda Parr • Nancy Pasanen • Brian and Lisa
Payne • Mario Peano • Francey Pengra and Ed Allday • Murray and Peggy Pitkowsky • Edward Pontacoloni • Patrick Popolizio • Christopher Poppe • Dede Potter • Edward and Donna Prime • Charles and Gail Puckette • Frank and Rosemary Pusateri • Christopher
William and Dale Creighton Francine and Robert Nemer Pye • William and Patricia Quinn • Bonnie Raitt • Steve and Kathi Ramant • Marilyn Randall • Myron and Barbara Rapaport • Nancy and Theodore Reale • Margaret Reid • Margaret Rendert • Bernard Renois • Lisa and Fred Renshaw • Janice and Chris Reynen
• Tom and Victoria Reynolds • John Rhodes • Joseph and Margaret Ricciardi • Joyce and Don Rice • Charles and Anita Richards • David and Antoinette Richards • Walter and Anne Robb • Richard and Elizabeth Robertello • Christopher and Karen Robinson •
David Darrin Marie and Mike O’Reilly Nadine and Herman Rogg • Jessica Rubin and Samuel Caldwell • Richard Sambrook • Henry Sanders • Susan and Richard Sandman • Thomas and Susan Sargent • Margaret Schadler • Thomas and Charlene Schaffer • Edmund and Jennifer Scheiber • Richard
and Tymm Schumaker • Michele Schwab • Donald Scott • Mimi Scully • Gary and Christina Seldomridge • Duane and Barbara Semcken • Melissa Shannon • Joshua Shannon • Donald and Deborah Shannon • Gregg and Jennifer Sherry • Douglas and Margaret
Sally and Bill Faber Family Joyce and Don Rice Shurts • John and Janet Silliman • Lenton and Barbara Simms • Peter and Courtney Simon • Frank Sinatra • Henry and Diane Singer • George Singer • Bryan Smead • Elisabeth Smith • Peter and Ellen Smith • Paul and Nancy Smith • Victor and Mary Smith •
Susan and Charles Snyder • Wendy Soliday and Gregory MacDonald • Henry and Beth Sommer • Keith Spalding • Rick and Evelyn Spann • Pete and Heidi Spencer • Laura Springer • George and Nancy Stannard • Larry Steinhart • Thomas and Cheryl Stevens •
Sally and Buddy Faulkner Susan and Charles Snyder Bonnie Stevens • Rachel Strader • Lisa and Bill Stromberg • Robert and Angela Strong • Michael D. Strutz and Connie Smith • Frank Suozzo • David and Allison Tamburelli • Christopher and Judith Tate • Kathleen Taylor and Donald Pompliano • Brooks Teele and
Michelle Boersma • Frank and Nancy Tetz • Maureen and William Theisz • Rob and Nancy Thiel • John and Patricia Tierney • Gerald Tirri • Deborah Tirri • Gerald and Myra Tolchin • John and Linda Toner • Kenneth Tornvall • Lora and Craig Treiber • Lauren and
Jane and Neil Golub Lisa and Bill Stromberg Steve Tyler • Kenneth and Elizabeth Uhl • Kenneth and Rosemary Ulbricht • Raymond and Suzanne Valade • David and Margaret Van Dyck • Stephanie Van Rhyn • Martha and Kirby Van Vleet • Robert and Margaret Vanderhye • Michael and Patricia Vaughn •
Paul and Elizabeth Vercesi • Judith Viering • Joseph and Barbara Vitale • David and Ellen Wagner • James Wancho • Richard Watkins and Lisa Conrad • John and Laura Werner • John Westley • Robert and Janet Whitaker • Robert White • John and Roberta Whiteley
Christine and George R. Hearst III Lora and Craig Treiber • Charles and Paula Williamsen • Douglas Willis • Judith and Joseph Willner • John and Annis Wilson • John and Nancy Winstead • Norm and Marian Wolgin • Ike Wolgin • Robert and Betty Wotton • Theodore S. Wray • Aleda Wright • E. Richard Yulman • John
Zakian • Rachel R. Zarghami and George Obergfoll • Charles and Rosemary Zimmerman • Robert and Margaret Zone • FOUNDATIONS • AmazonSmile Foundation • Anoatak Fund of the Bank of America Charitable Gift Fund • Charles C. Freihofer III Advised
Helen V. Froehlich Foundation Renée and Tom West Fund of The Community Foundation for the Greater Capital Region • Geo. R. & Evelyn Brothers Charitable Trust • Helen V. Froehlich Foundation • Henry M. Rowan Family Foundation, Inc. • Hoopes Family Foundation • The Knapp Fund • Margaret A. Darrin Charitable
Trust • Nuveen Benevolent Trust • RBC Foundation • Spann Family Charitable Fund • The Wright Family Foundation • MATCH OF EMPLOYEE CONTRIBUTIONS • Annie E Casey Foundation • Bank of America • Benevity Community Impact Fund •
Henry M. Rowan Family Foundation Judith and Joseph Willner Colgate • Cornerstone Macro • Deutsche Bank Americas Foundation • GE Foundation • Gordon and Betty Moore Foundation • IBM Corporation • The Kresge Foundation • IN KIND • Best Western of Ticonderoga • Jeff and Judy Killeen • Northern Hardwoods •
Jane and Paul Ingrey The Wright Family Foundation The Sagamore • J. W. Sutherland, Ph.D. • Albany Times Union • Visual Planet, LLC • The West Firm, PLLC • TRIBUTE GIFTS • IN MEMORY OF RITA ARNSTEIN • Sunny Buchman • IN MEMORY OF TED ARNSTEIN • Wilhemina Glessner • William and Judy
Wetherbee • IN MEMORY OF ROBERT L. BALL • Robert P. Ball • IN MEMORY OF C. BRUCE BEATTIE • Valerie Fowler • IN MEMORY OF JOSEPH BOOCHEVER • Lawrence and Louise Marwill • IN HONOR OF JOHN CONKLING • Carl and Cindy Baxter • IN MEMORY
Keeler Motor Car Company Anonymous OF PEGGY DARRIN • Hannah Darrin • IN HONOR OF SARAMA DEY AND MICHAEL RIZZO’S WEDDING • James Dunham • IN MEMORY OF VICKI GLANDON • Robert E. Glandon • IN MEMORY OF DALE HANSON • Sheryl Samuels • IN HONOR OF LOIS KLAUDER
• Susan Klauder • IN HONOR OF RICHARD MACDOWELL • Richard and Barbara MacDowell • IN HONOR OF JERRY AND MADDY MALOVANY • Ronald and Cappie Morgan • IN MEMORY OF ANN MARINO • Joyce and Bob Bernard • IN MEMORY OF ALBERT
Charitable Foundation MARTENSON • Donald and Audrey Lehn • IN MEMORY OF GORDON RABELER • Bob and Carol Cook • IN MEMORY OF JACK RYDER • Lisa Ryder • IN HONOR OF LINDA SCHADLER AND TOM FEIST • Margaret Schadler • IN MEMORY OF ANNAMARY SMITH-LARKIN
• Peter Larkin • BUSINESSES AND ORGANIZATIONS • Adirondack Pub & Brewery, Inc. • Anua International • Arcady Bay Estates Homeowners Association • Barton And LoGuidice, PPC • Beach Doctors • Benevity Community Impact Fund • Busse NY
• Cedarwood Engineering • The Chazen Companies • The Chronicle • Clarus Environmental • Devocean Watersports LLC • Dunhams Bay Association, Inc. • Eljen Corporation • Filtrexx New York • Goldman Sachs Gives • Lake George Association • Lake George
Community Garden Club • Lake George Fishing Alliance • Orenco Systems Inc • Pilot Knob Association • Presby Environmental, Inc • Property Owners of Silver Bay • Rush Island Improvement Assoc • Saratoga Sports Massage • Secure Winter Products • Stepping
Stones Resort • Sutton’s Market Place, Inc. • Takundewide Homeowners Association, Inc. • Town of Hague • Town of Lake George • Town of Ticonderoga • Village of Lake George • Wyckoff Shopping Center Inc.
14 T H E F U N D FOR LAK E G EO R GE AN N U AL REPORT 15
ASSETS 2017 2016
Cash in Bank Accounts $225,821 $70,331
Investment Portfolio1
Marketable Securities $4,199,377 $3,717,411
HOW WE USED YOUR Limited Partnerships $2,931 $2,030
CONTRIBUTIONS IN 2017
Property and Equipment
Land $88,081 $88,081
2017 FINANCIAL SUMMARY
Buildings $401,760 $395,491
Equipment/Vehicles/Software $149,160 $134,879
Administration
Gaslight Village
10%
Conservation Easement2 $719,381 $719,381
Fundraising / Development Depreciation and Amortization -$244,501 -$222,409
6% Total Assets $5,542,010 $4,905,195
LIABILITIES
Credit Card Payable
2017
$3,143
2016
$6,418
W I T H Y O U R S U P P O R T,
Programs
84% Tenant Security Deposits $750 $750
Total Liabilities $3,893 $7,168
THE FUTURE OF LAKE GEORGE
2017 PROGRAM INVESTMENTS
OPERATING CASH FLOW3 2017 2016
Water Quality & Clarity Invasive Species
Private Contributions
Foundation Contributions
$1,034,551
$380,000
$1,033,613
$275,000
IS CLEAR AND CLEAN.
$488,384 Prevention and
Treatment Investment Transfers4 $77,000 $60,980
$161,015 Contracts $48,983 $23,465
Rental Income $9,000 $9,000
Loss On Disposal of Assets, Net -$209 $0
Total Operating Income $1,549,325 $1,402,058
Salt Reduction
$132,607 EXPENSES 2017 2016
Administrative and general $141,338 $122,594
Science of Solutions Program $1,195,585 $1,238,159
$413,579 Fundraising $79,479 $111,592
Total Expenses $1,416,402 $1,472,345
1
The FUND’s Investment Portfolio (IP) generated a net investment gain of $583,266 in 2017 4
In 2017, the annual distribution from The FUND’s IP was 4% of the average of the year-end
and a net investment loss of $271,335 in 2016. The limited partnerships generated net portfolio values of the previous three years; a replenishment transfer to the IP was approved by
investment gain of $901 in 2017 and net investment loss of $1,247 in 2016. the Board, resulting in the net transfer of $77,000. In 2016, the annual distribution from The
FUND’s IP was 5% of the average of the year-end portfolio values of the previous three years; F U N D F O R L A K E G E O R G E . O R G / I N V E S T
2
In March 2008, The FUND for Lake George purchased a conservation easement on the former
a replenishment transfer to the IP was approved by the Board, resulting in the net transfer of
Gaslight Village site in partnership with the Lake George Association and Lake George Land
$60,980.
Conservancy.
The full 2017 independent audit prepared by Whittemore, Dowen and Ricciardelli, LLP of Queensbury, NY is available upon request. The fig-
3
The FUND’s annual operating income is maintained separately from its Investment Portfolio. ures above are presented in a format designed to facilitate an understanding of the sources of our revenue, the nature of our expenditures,
and the financial status of our organization.
FUNDFORLAKEGEORGE.ORG
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