Monday the 8th - Copyright BYCF. All rights reserved. - Hostgator Coupon

In 2002, the BYC membership decided to establish a trust to which members could contribute for the betterment of the club, but it was never implemented. Livius Sherwood bequested $ 66,000 and an anonomous donor made a $2,000 contribution. The monies have since been kept as a “restricted account” on BYC's balance sheet. In 2009, the Club received $115,000 from the estate of Charlie Marshall directed to a specific purpose: to establish a Youth Sailing fund, the interest from which is to be used for youth sailing. These gifts led to the re-establishment of interest in this subject, detailed reviews of options and the creation of BYCF at the 2010 AGM.

In establishing the BYCF, the club members’ objectives are to receive all present and future donations in a single legal administrative structure so it can accommodate a variety of bequests (legacy funds, funding of specific projects with use of capital or interest or both as directed in deed of gift) and thus serve the best interest of sailing and the river community.