From glennwmichael at gmail.com  Tue Dec  5 11:21:21 2017
From: glennwmichael at gmail.com (Glenn Michael)
Date: Tue, 5 Dec 2017 13:21:21 -0500
Subject: [Board-2018] December BOD agenda item
In-Reply-To: <BN3PR17MB05294F94943AAA95DFE8BCEDBC3D0@BN3PR17MB0529.namprd17.prod.outlook.com>
References: <352159664.138946.1508859973206@connect.xfinity.com>
	<17298644.181153.1510079432797@connect.xfinity.com>
	<BN3PR17MB05294F94943AAA95DFE8BCEDBC3D0@BN3PR17MB0529.namprd17.prod.outlook.com>
Message-ID: <CAC7tJWZHk+00--J-2Af15-duN65q84TXqxQcdkCgw3O-LhkPSA@mail.gmail.com>

Thanks Roy,

I will place it on the agenda.

Glenn

On Mon, Dec 4, 2017 at 8:46 PM, Roy Briscoe <roysail at hotmail.com> wrote:

> I'd like to add an item to discuss what to do with the Mower Race profits.
> We are going to get a little over $600 for PYC's share of the Commodores
> Cup proceeds. Maybe we could think about donating most to a sailing cause
> such as UNH Sailing, Portsmouth High School Sailing team or KPYS Sailing
> school scholarship(s). The $600 includes some proceeds from people that
> paid ahead of time for the meal, $10/pp, and the rest is profit. T
>
> There are 5 races in the series so PYC gets 20% of the profits for the
> series.
>
> Regards,
>
> Roy
>
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From stardot at comcast.net  Tue Dec  5 12:12:20 2017
From: stardot at comcast.net (F DOYLE SKEELS)
Date: Tue, 5 Dec 2017 14:12:20 -0500 (EST)
Subject: [Board-2018] December BOD agenda item
In-Reply-To: <BN3PR17MB05294F94943AAA95DFE8BCEDBC3D0@BN3PR17MB0529.namprd17.prod.outlook.com>
References: <352159664.138946.1508859973206@connect.xfinity.com>,
	<17298644.181153.1510079432797@connect.xfinity.com>
	<BN3PR17MB05294F94943AAA95DFE8BCEDBC3D0@BN3PR17MB0529.namprd17.prod.outlook.com>
Message-ID: <547241751.214100.1512501140644@connect.xfinity.com>

Roy -

This  is a common misconception. There are no "profits" from the Mowers Race. The only profits we have at the club are from fuel sales and we pay taxes on  those. There may be a  net flow of funds in or out from our various activities, but we are, by definition, a non-profit corporation. All funds that come in go to support operations of the club. As a non-profit, and not a charitable organization, we do not make (nor are we expected to make) donations to other non-profits or government sponsored organizations as the Rotary Club or a church might do. The only exceptions we make are token amounts to the cause of a speaker at one of our dinners or to make a donation in memory of  a  member who passes. We can, of course, set up activities in conjunction with other organizations to promote sailing, but giving them money is not an appropriate use of our funds. Besides, we are going to be lucky to break even  this  year and I think it is likely 2018 will be negative net funds from operations.


I would be happy to discuss this further with you if  you wish.

Doyle

> On December 4, 2017 at 8:46 PM Roy Briscoe <roysail at hotmail.com> wrote:
> 
>     I'd like to add an item to discuss what to do with the Mower Race profits. We are going to get a little over $600 for PYC's share of the Commodores Cup proceeds. Maybe we could think about donating most to a sailing cause such as UNH Sailing, Portsmouth High School Sailing team or KPYS Sailing school scholarship(s). The $600 includes some proceeds from people that paid ahead of time for the meal, $10/pp, and the rest is profit. T
> 
>     There are 5 races in the series so PYC gets 20% of the profits for the series.
> 
>     Regards,
> 
>     Roy
> 
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From info at blueberrybayfarm.com  Tue Dec  5 12:47:29 2017
From: info at blueberrybayfarm.com (Ron Laurence - Blueberry Bay Farm)
Date: Tue, 5 Dec 2017 14:47:29 -0500
Subject: [Board-2018] December BOD agenda item
In-Reply-To: <547241751.214100.1512501140644@connect.xfinity.com>
References: <352159664.138946.1508859973206@connect.xfinity.com>
	<17298644.181153.1510079432797@connect.xfinity.com>
	<BN3PR17MB05294F94943AAA95DFE8BCEDBC3D0@BN3PR17MB0529.namprd17.prod.outlook.com>
	<547241751.214100.1512501140644@connect.xfinity.com>
Message-ID: <59626330-f15a-1722-99b9-4300130a1779@blueberrybayfarm.com>

Roy:
In further support of Doyle's response, we should never use the word 
"profit" in any of our reports or meeting minutes, as this could be a 
flag to the IRS that our mission is to make a profit and thus risk 
losing our non-profit status ( and thus be income-taxed). (I experienced 
this years ago during an audit).
Ron Laurence


On 12/5/2017 2:12 PM, F DOYLE SKEELS wrote:
>
> Roy -
>
> This  is a common misconception. There are no "profits" from the 
> Mowers Race. The only profits we have at the club are from fuel sales 
> and we pay taxes on  those. There may be a  net flow of funds in or 
> out from our various activities, but we are, by definition, a 
> non-profit corporation. All funds that come in go to support 
> operations of the club. As a non-profit, and not a charitable 
> organization, we do not make (nor are we expected to make) donations 
> to other non-profits or government sponsored organizations as the 
> Rotary Club or a church might do. The only exceptions we make are 
> token amounts to the cause of a speaker at one of our dinners or to 
> make a donation in memory of  a member who passes. We can, of course, 
> set up activities in conjunction with other organizations to promote 
> sailing, but giving them money is not an appropriate use of our funds. 
> Besides, we are going to be lucky to break even  this  year and I 
> think it is likely 2018 will be negative net funds from operations.
>
>
> I would be happy to discuss this further with you if  you wish.
>
> Doyle
>
>> On December 4, 2017 at 8:46 PM Roy Briscoe <roysail at hotmail.com> wrote:
>>
>> I'd like to add an item to discuss what to do with the Mower Race 
>> profits. We are going to get a little over $600 for PYC's share of 
>> the Commodores Cup proceeds. Maybe we could think about donating most 
>> to a sailing cause such as UNH Sailing, Portsmouth High School 
>> Sailing team or KPYS Sailing school scholarship(s). The $600 includes 
>> some proceeds from people that paid ahead of time for the meal, 
>> $10/pp, and the rest is profit. T
>>
>> There are 5 races in the series so PYC gets 20% of the profits for 
>> the series.
>>
>> Regards,
>>
>> Roy


-- 
Ron Laurence Blueberry Bay Farm 38 Depot Road Stratham, NH 03885 
603-580-1612
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