[Board-2018] December BOD agenda item

Thu Dec 7 14:59:17 MST 2017

Hi Jeremy. The meeting is next week in Newington. Glenn

Sent from my iPhone

> On Dec 7, 2017, at 4:44 PM, Jeremy Small <jsmall.105 at gmail.com> wrote:
> 
> Just checking in that the Meeting tonight is still at 18:30?  I will not be able to stay after the meeting.
> 
> 
>> On Wed, Dec 6, 2017 at 1:23 PM, Glenn Michael <glennwmichael at gmail.com> wrote:
>> We are giving One Sky some money for their assistance in allowing us to use their conference room.
>> 
>> Glenn
>> 
>>> On Wed, Dec 6, 2017 at 12:51 PM, Roy Briscoe <roysail at hotmail.com> wrote:
>>> I did a little research on non-profit to non-profit fund transfers and it appears it is legal as long as both organizations are 501C and the organization that the money is given to has a similar mission as the organization giving the money.
>>> 
>>> http://www.raise-funds.com/can-one-non-profit-donate-money-to-another/
>>> https://www.ptotoday.com/boards/11-robts-rules-bylaws-legal/56262-can-one-501-c-3-donate-to-another-non-profit
>>> http://www.corestrategies4nonprofits.com/nonprofit_core/Yes,_Your_Organization_Can_Make_a_Donation_to_Another_Organization
>>> Yes, Your Organization Can Make a Donation to Another ...
>>> CoreStrategies for Nonprofits, Inc. helps philanthropists and organizations with vision and a commitment to action make an investment in their community.
>>> www.corestrategies4nonprofits.com
>>> 
>>> 
>>> 
>>> 
>>> Can one 501(c)(3) donate to another non-profit?  - PTO ...
>>> Can one 501(c)(3) donate (funds) to another non-profit? This question (really about donation of funds, not items) has raised some spirited discussion in...
>>> www.ptotoday.com
>>> 
>>> Can One Non-Profit Donate Money To Another ... - Raise ...
>>> I was asked if one 501(c)(3) non-profit can give money to another 501(c)(3) charity. With the usual, and necessary, caveat of, “I am not attorney, nor am I giving ...
>>> www.raise-funds.com
>>> 
>>> 
>>> So PYC can't really give money to OneSky as missions are totally different, but giving money to a non-profit sailing school for scholarships or equipment would probably be ok because it is promoting training for boating, if we wanted to do that.
>>> 
>>> Some other caveats are no conflict of interest and you can't imperial the financial state of the organization giving the money.
>>> 
>>> In the past I think the funds from this event have just gone back into the general fund and usually it has been break even so not an issue. The last couple of years this event has been on the plus side by $300 and up. PYC does pretty much nothing to help raise outside funds for the series, the increases have been due to the KPYC Commodores Cup committee getting sponsorships which helps deflect the costs of running and feeding crew the 5 race series which is open to the public.  What PYC does is make a trip to BJs for hotdogs, buns, beer and wine and run the event on the day of the race in honor of Dave Mowers.
>>> 
>>> KPYC sends us a check for our share after the season is over and this year it is over $600.  Maybe $150 of that is prepaid meals. Some options: We can keep the money or we could play it forward and give back to a sailing non-profit to promote sailing or we could not accept the money and let it roll into next year's Commodores Cup or maybe something else?
>>> 
>>> Note: no more "profit" other than non-profit...
>>> 
>>> We can talk next week,
>>> 
>>> Roy
>>> 
>>> Sent from Outlook
>>> 
>>> From: F DOYLE SKEELS <stardot at comcast.net>
>>> Sent: Tuesday, December 5, 2017 7:12 PM
>>> To: Roy Briscoe; Board of Directors
>>> Subject: Re: [Board-2018] December BOD agenda item
>>>  
>>> 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
>> 
> 
> 
> 
> -- 
> Jeremy Small
> 603.661.7371
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