Prior to 1950, the water rights to the dam were owned by the Kearsarge Reservoir Company, a privately-owned corporation approximately ten miles downstream of the outflow of the dam, which up until approximately 1940, regulated the outflow in order to operate a water wheel which provided power to the Ela Box Company, a wooden box construction facility in Warner, New Hampshire. Upon the conversion of Ela Box Company from water power to distributed electricity in the mid 1940's, the dam fell into disrepair causing uncertain water levels during the summer and fall seasons.
In 1949, a group of shorefront property owners initiated actions to stabilize the level of the lake. In 1950, the Blaisdell Lake Property Owners Association was formally organized. Membership was available to "...any property owner in the Town of Sutton who is interested in the general welfare and development of Blaisdell Lake and the surrounding area..."
Articles of Agreement were adopted in 1952 with the primary objective "To purchase and hold the water rights and dam at the outlet to Blaisdell Lake". It was formed as "...a non-profit Association and therefore has no capital stock". Contributions for repairs to the dam were solicited, and dues of $2.00 per year were voted by the membership.
The sole purpose of the Blaisdell Lake Protective Association continues be: - The preservation of the dam through operating and maintenance procedures accepted by, and periodically inspected by, the State of New Hampshire's Department of Environmental Services. - The monitoring of the water quality of Blaisdell Lake through a testing program administered by the State of New Hampshire's Department of Environmental Services.
- The monitoring of safe boating practices through a volunteer boating safety inspection program administered and enforced by the State of New Hampshire's Department of Safety.