[Board] Stipend

[Whitney T Weller]

Thanks Doyle:


Let’s check what the C&B says and follow suit.

The C&B says the Secretary and Treasurer “shall be compensated” as the BOD deems necessary.”

Best

W

Whitney Weller

> On Jul 30, 2022, at 7:35 PM, treasurer at portsmouthyc.org wrote:
> 
> 
> Whit –
> There is a problem in the recent Newsletter with the way you worded the benefits given to the Secretary, Treasurer, and Communications Officer. These are not paid positions as are the Steward and dockhands whose salaries, wages and tips are reported to the IRS as taxable income. The IRS is very particular about how certain words are used, and the word “compensated” is one of them. Those three officer positions are NOT compensated, nor are they paid. To publicly say they are either compensated or paid opens a can of worms with the IRS that we definitely do not want to get into. The IRS interprets the words “compensated” and “paid” to mean “taxable income”. I realize that you have probably not had to deal much with the IRS and that the wording you used was not intended to cause trouble, but it needs to be restated:
>  
> The Secretary, Treasurer and Communications Officer are volunteer positions filled by club members. In appreciation of their service, their dues are waived. They are also given a stipend, the amount of which is determined by the Board of Directors, to reimburse the various and sundry expenses they incur in fulfilling their duties.  
>  
> Please modify the newsletter immediately to reflect proper wording.
>  
> Thank you,
> Doyle Skeels, Treasurer
> Portsmouth Yacht Club
> (603) 661-6269
> treasurer at portsmouthyc.org
>  
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