The PLIA is a voluntary, membership-based organization. Historically, it has relied almost exclusively on its members to provide the financial resources necessary to carry out its mission.
The annual dues have been a steady source of income, but not a major one. It has been possible for the PLIA to accomplish the things it has only because of significant additional financial contributions from its members and from other interested parties. And, with this support, we have accomplished a lot.
The 2000 settlement of the PLIA/MDNR lawsuit was especially favorable to the PLIA in that the PLIA's share of mandated lake/river monitoring expenses is relatively small; for now, the MDNR is obligated to fund the bulk of this mutual effort, and has done so. Further, in accordance with the settlement, financial penalties assessed the MDNR because of occasional hatchery phosphate discharges or water flow rates in excess of allowed limits have resulted in funding for lake and river environment improvements that otherwise almost certainly would have had to be funded by the PLIA.
However, per the Settlement Agreement, once the Hatchery renovation is complete and consistent compliance to the various discharge limits mandated by the settlement has been demonstrated, these penalty provisions will disappear. Plus, at this point the State no longer will be required by the Settlement to fund any lake/river monitoring.
Although we fully expect the MDNR to remain a serious, committed partner in the stewardship of Platte Lake, given current and projected State fiscal constraints, it is highly likely that the MDNR will cease all or most funding for Platte Lake/River monitoring when no longer required by the Court. At this point, the PLIA will have to bear most or all of the expense of the lake/river monitoring we now know is necessary to understand the state of the lake and to be able to anticipate the impacts of future changes within the watershed. We estimate this will cost at least $100k per year.
Accordingly, looking to the future, the PLIA Board of Directors has worked to establish a mechanism to make this funding available in perpetuity. The PLIA's 501c(3) status greatly facilitates this process. The creation of an endowment fund, separate from the PLIA's general working capital fund, was approved by the Membership in 2002. Segregation of PLIA funds into separate working and endowment accounts has occurred.
Our primary goal for the Endowment Fund is a fiscal entity which will produce the necessary income, but in an extremely low-risk way. As discussed at the 2003 Annual Meeting, in the light of current economic conditions, the Fund initially was structured to produce modest growth at essentially zero risk. The next step is to develop an investment strategy which will allow a higher rate of growth while keeping the risk at an acceptably low level. The Board is working this.
But.....to achieve fiscal independence for Platte Lake, your financial support is needed. In addition to direct contributions, consider including the Platte Lake Endowment Fund in your estate planning. As we all know, property around the lake has become quite valuable. Bequest of just a few properties easily could provide the basis for a truly viable Endowment Fund.
Contact us. We are committed to work with you to facilitate your contribution and to make it count!
