In response to a request from members, the Highland Lake Association has established an Endowment Fund. This Endowment Fund helps to provide for the long term health and protection of Highland Lake. The HLA Board of Directors oversees the Fund management, with the advice of a volunteer financial professional.  As assets accumulate, proceeds from investments will allow the Association to pursue specific projects which benefit Highland Lake. 

The Endowment Fund is separate from the Operating Budget of the Association, and is not used for general expenses. The HLA is a 501(3)(c) non-profit corporation registered in the State of Maine. Most gifts are considered as a tax-deductible charitable donation.

Our Endowment Fund and Planned Giving Program for the HLA offers several options — making giving easy:

1. Make a tax-deductible Gift of Cash or Stock:

   • Gifts allow lake residents or those who find the lake a special place to leave a lasting legacy.

   • A Gift to the HLA Endowment Fund can be a meaningful way to honor or remember a friend or family member who has been a long-time advocate and friend of the Lake.

   • A suggested minimum is $250, although all amounts are welcome.

2. Include the HLA in a Will or Living Trust, by making a Bequest of cash or assets:

   • A Specific Bequest specifies an exact dollar amount that Highland Lake Association will receive.

   • A Residuary Bequest directs that Highland lake Association receive a percentage or all of your remaining estate after all taxes, costs and specific bequests.

   • A Restricted Bequest is left by a donor for a specific purpose, such as a Named Scholarship, or a specific project. To leave a restricted bequest, it’s best to contact us directly so we can ensure your wishes are met. 

   • A Contingent Bequest passes to Highland Lake Association if a relative or friend you have provided for is not living at the time of your death.

3. Establish a Charitable Gift Annuity (CGA) to benefit the HLA.

4. Establish a Charitable Trust.

5. Name the HLA as a beneficiary in your retirement plan and direct charitable transfers.

6. Contribute a life insurance policy to the HLA.

Please consult with your professional Financial Advisor or a tax attorney to determine which giving options may be best for you.

If you do include the HLA in your Will or Trust, please let us know, so that we may appropriately acknowledge and thank you.

Please contact the Highland Lake Association via email:

• Kevin McElearney, President, or 

• Tom VerLee, Endowment Fund Chair, with any questions.