We are pleased to share the great performance of both the Endowment and Restricted SOS financial accounts.
In 2020, we transferred $10,000.00 from our non-interest bearing Restricted account to the equity- based Endowment account. In addition, all 720 Lifetime member contributions are deposited into the Endowment account. This account is managed by Lakeside on a conservative investment basis. The 12/31/2020 year-end balance was $148,410. The Endowment spins off 4% of its three- year average each year. For 2021, this spin-off should make over $4,000 available for capital waterfront improvements. Lakeside and SOS are currently looking for qualifying capital projects. If you have any suggestions that we may pass along to Lakeside please contact Tony Apotsos at 419-341-3487.
The Restricted account, for which SOS has full control, has a balance of $16,649.40 as of 1/31/2021, after the $10,000.00 transfer to the Endowment account. A partial list of our current purchase plans include:
In 2020, we transferred $10,000.00 from our non-interest bearing Restricted account to the equity- based Endowment account. In addition, all 720 Lifetime member contributions are deposited into the Endowment account. This account is managed by Lakeside on a conservative investment basis. The 12/31/2020 year-end balance was $148,410. The Endowment spins off 4% of its three- year average each year. For 2021, this spin-off should make over $4,000 available for capital waterfront improvements. Lakeside and SOS are currently looking for qualifying capital projects. If you have any suggestions that we may pass along to Lakeside please contact Tony Apotsos at 419-341-3487.
The Restricted account, for which SOS has full control, has a balance of $16,649.40 as of 1/31/2021, after the $10,000.00 transfer to the Endowment account. A partial list of our current purchase plans include:
- Two to three new dollies
- FJ and rescue boat parts
- Sunfish and Laser parts
- Regatta officiating equipment
- New PCV slide-off racks
- Materials to tune up or replace shoreside watercraft storage racks
- New tools and supplies for shoreside boat repairs
- Weather station equipment
- New PFD’s
