Neither the existence nor the size of the reserve bothers me. I would like to know how the reserve is being invested. My belief is we are well on our way to being able to send our Laser Class to an unprecedented next level. That next level would be "Operating the entire International Laser Class off of the revenues generated other than by membership fees." The class is a tool. It is a tool for the organization of the game. It is a tool which can be used for the disssemination of information about the game. It is tool which can be used to promote the game. We as Laser sailors would like to invite 100% of the world's population to come out and sail Keeping track of who is an who is not a paid member of the ILCA is only necessary because those who "do not pay their fair share" must have an incentive to do so. If the ILCA had sufficient sources of revenue, it would no longer need to consume resources keeping track of who was and was not paying membership fees. For many, that would make our invitation to "everybody" a bit more obviously sincere. Please do not confuse this comment with local membership. I would love to find a way to end the necessity for paid local membership as well but on the local and regional level membership is necessary for entirely different reasons. Currently, the NA Class Association consumes at least 50% of its available resources managing and paying fees related to what we call membership. Membership provides only about 60% of the revenues. This does not mean a 10% shift in funding would end the need for membership. Locally, we use membership as a tool for entirely different reasons. We use membership in NA and in more local juristictions to force management of the "people who are available to play" database. You do not renew your membership to "prove you paid your dues." You renew your membership to give those who want to find a Laser sailors your address, phone number, age, sex, boat sailed, and (since I started keeping track in 1999) your email address. If the ILCA were to quit keeping track of membership and collecting international fees, the nA Association would only save 4.5 pounds sterling per member. On the other hand, we could hire someone to spend 4.5 pounds collected from each of our 2500 members on the task of rable rousing and getting [people out to play with us. So..I say make the ILCA fund big enoiugh to support the class. Solicit donations! make the laser Clas endowment into many millions and use the generated revenue to grow the game of lasering. Of course...I was told I didn't know a damn thing about funding and finances and thrown out of management a few years back...so what do I know. Do not pay atention to anything I suggest!!!