[Board-2018] December BOD agenda item

[Jeremy Small]

Thanks... oops.

On Thu, Dec 7, 2017, 4:59 PM Glenn Michael <glennwmichael at gmail.com> wrote:

> 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 ...
>>> <http://www.corestrategies4nonprofits.com/nonprofit_core/Yes,_Your_Organization_Can_Make_a_Donation_to_Another_Organization>
>>> CoreStrategies for Nonprofits, Inc. helps philanthropists and
>>> organizations with vision and a commitment to action make an investment in
>>> their community.
>>> www.corestrategies4nonprofits.com
>>>
>>>
>>>
>>>
>>> <https://www.ptotoday.com/boards/11-robts-rules-bylaws-legal/56262-can-one-501-c-3-donate-to-another-non-profit>
>>> Can one 501(c)(3) donate to another non-profit? - PTO ...
>>> <https://www.ptotoday.com/boards/11-robts-rules-bylaws-legal/56262-can-one-501-c-3-donate-to-another-non-profit>
>>> 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 ...
>>> <http://www.raise-funds.com/can-one-non-profit-donate-money-to-another/>
>>> 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 <http://aka.ms/weboutlook>
>>>
>>> ------------------------------
>>> *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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