Rocky Mountain International
Sailing Association
Some supporters of SAIL are organizing a fund-raising arm, known as the Rocky Mountain International Sailing Association, or RMISA. It will be a 501(c)(3) public charity, incorporated in the State of Colorado, to which donations will be tax-deductible.
Why do we need RMISA?
SAIL can not be its own fund-raising arm; the IRS rules governing revenue, expenses and assets for charitable (tax-deductible) status are quite strict -- to the extent that a separate organization is more easily able to comply. Other charitable organizations in the region have other priorities. RMISA is the answer to helping youthful racers hone their skills and learn to appreciate the sport.
What is it about?
RMISA's goals (spelled out more fully below) are to support charitable, educational, and scientific activities related to sailing and to foster national and international amateur sailing competition, especially for youth. Its purpose is not to compete with existing or future youth sailing programs, but to enhance and supplement their activities.
RMISA's current project is funding Club 420s for junior sailors to use in training & competition. We chose the C-420 because it is the boat most often used by high school and collegiate sailing teams. One has been acquired and is in frequent use by aspiring young racers. More 420s are needed, to provide fleets for racing and additional training opportunities.
What is its current status?
RMISA's Articles of Incorporation were filed with the Colorado Secretary of State on June 20, 2006. Bylaws and an application to the IRS for non-profit status as a public charity are now being drafted and will be submitted as soon as they are ready.
Can we donate now?
Yes, though your donations may not be tax-deductible until the IRS approves public charity status for RMISA. In fact, RMISA's bank account is growing toward the purchase of another boat.
How else can we help?
We need corporate donations to build a viable fleet. Individual donations and raffles are helpful, but slow in raising enough for several boats/
Do you know a company willing to sponsor a kids' boat with the company name and/or logo on it? The name or logo can be on the boat permanently, seen by hundreds every time the boat sails, and publicly associating the company with supporting a worthy cause for youth. The cost is low in marketing terms -- about $6,000 per boat with all sails and a trailer to take it to regattas around the region.
For more information, contact:
| Ralph Taylor |
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| Steve Davis |
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| Jim Young |
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RMISA's Goals
These are the goals of RMISA, as spelled out in the corporate charter:
(a) To aid, support, and assist the maintenance, promotion, growth and improvement of efforts to provide local, national and international amateur sailing competition with special emphasis on youth, to provide opportunities for all persons to participate in such competitions and to assist young sailors to enhance and develop their skills in such competitions, or to assist any other organization that is designated by this Corporation and that is exempt from federal income taxation under Section 501 (c) (3) of the Internal Revenue Code, and to enhance and stimulate the quality of services delivered by such organization;
(b) To aid, support, and assist the provision of charitable opportunities for youth and others who would not otherwise be able to participate to experience and compete in the sport of sailing;
(c) To advance, foster, and enable research into and education about sailing and its related sciences and techniques, including its fluid dynamics, psychology, kinetics, meteorology, sociology, mathematics, and other subjects;
(d) To study the needs of persons interested in sailing competition in various communities and by cooperative effort meet those needs through the development of constructive programs which will be efficient and economical;
(e) To serve as an innovative, flexible, and efficient vehicle to facilitate the solicitation and management of gifts, grants, bequests, and devises, and to conduct fund-raising campaigns and programs for the benefit of this Corporation, or any other organization that is designated by this Corporation that is exempt from federal income taxation under Section 501(c) (3) of the Internal Revenue Code;
(f) To receive, maintain, and administer a fund of real and personal property, derived from all sources whatsoever, and subject to the terms of any specific gift, grant, bequest, or devise, and to the restrictions set forth below, to use, apply, and distribute the income from and the principal of such a fund exclusively to, for the benefit of, or to carry out the purposes of this Corporation described above, or any other organization that is designated by this Corporation and that is exempt from federal income taxation under Section 501(c) (3) of the Internal Revenue Code;
(g) To encourage and furnish funds for research, public service, teaching, and coaching, and otherwise to assist in the development of enhanced educational sailing training programs for all age groups by this Corporation, or any other organization that is designated by this Corporation and that is exempt from federal income taxation under Section 501(c) (3) of the Internal Revenue Code;
(h) To do and engage in all lawful activities that further or are consistent with the preceding objects and purposes of this Corporation.
| Go Top Home | Revised: 9/25/06 |