Growing the Endowment is Imperative to Preserve Lakeside

Posted on August 05, 2015

One of Lakeside Chautauqua’s strategic goals is to develop the financial resources needed for sustainability.

Years ago, Lakeside’s leaders were dedicated to securing the future of the community and took a bold move to begin an endowment.

The endowment is like a savings account, where the principal remains untouched and a small percentage of the interest is used to help fund operations. 

Lakeside’s endowment totals $3.8 million, which is small for a 142-year-old community. The vision of building a larger endowment remains extremely imperative for Lakeside’s future and long-term sustainability.

Each year, a percentage of the earnings from the endowment is drawn to support the Chautauqua program and the preservation of many historic buildings. Today, it funds only two percent of the annual cost of operations, roughly contributing $120,000 to the $7 million budget.

The best way to ensure the community’s’ sustainability is to build a substantial endowment that significantly funds annual operations. This would improve the ability to implement emerging programs, continue to secure preachers, scholars and researchers, maintain the historic structures and care for the parks and grounds in perpetuity.

Many Lakesiders have already made it a priority to protect the future of the community by planning a deferred endowment gift, and Lakeside thanks these families for their support.

All are invited to join these generous families by planning a legacy gift. Whether pledging a gift or leaving Lakeside as a beneficiary in an estate, IRA or life insurance policy, you can benefit in many ways, including reducing income tax, avoiding capital-gain tax or reducing or eliminating state or federal estate taxes.

To plan a deferred endowment gift, contact advancement@lakesideohio.com or (419) 798-5396.