BYC Jib Sheet Apr 1999 <>

April 1999

Jib Sheet

Contents of this issue

BYC Now To Be Voluntary Association

The Club's March 10th membership meeting was momentous! By an 82% majority of voters, a resolution passed to convert the BYC to a “voluntary association”. This business form, used by most yacht clubs, gives members the same rights and privileges consistent with their membership (active, non-resident, senior, etc.) but eliminates the corporate stock now held. Instead, any investment in the Club will be in the form of non-refundable fees at the time of joining.

The voters also agreed to cancel all stock certificates, so that members no longer have individual ownership of the Club, and agreed that if the Club ever shuts down, its assets should be distributed to a suitable charity in furtherance of aims similar to those of the Club to foster boating education and safety.

The cancellation of stock is largely symbolic: Shares, originally worth $50 each, have not been redeemed by the Club for several years under an earlier by-laws change, and instead are offered by the Club on behalf of sellers. No new members have opted to buy them, making them essentially worthless.

In a separate action, members unanimously approved by-laws changes, the most important of which was to convert the Fleet Captain's office to an elected one (it was appointed) and make the Secretary an appointed officer. The intent of the change was to have a secretary in the future who would serve multiple years, adding to the Club's consistency, and to see to it that the members, not just the incoming commodore, could influence who was nominated for flag offices.

Other by-laws changes were mostly deletion of references to staff and grammatical corrections, and deletion of the little-used “Racing Associate” membership, which is replaced by a higher non-member racing packet charge.

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APRIL CRUISING HIGHLIGHTS:

Party, Winemaker's Dinner, Friday Harbor

Fleet Captain Bob Knudson has announced the following April events:

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Editorial

I'm so excited about our progress I can hardly stand it! As I told the folks at our Membership Meeting on March 10, the Club's financial health is the best it's been in years and years!

In March, we paid an extra $4,850 toward reduction of our mortgage, and it looks like another big chunk will go out in April, as our exciting Lifering program created by Secretary Karen Callery and her committee last summer bears fruit. Thanks to all the folks who have contributed so generously.

And Commodore McCord's dictum of “Don't spend it unless you have it!” is paying off as we continue to have a profit in our operations, after all the accounting charges including depreciation!

Equally exciting to me, however, is the new spirit of activity at our Club. More volunteers, new members coming in every month, folks getting caught up on their dues (virtually all members are current), and lots of other positive signals are being hoisted up our rhetorical BYC flagpoles.

Through all of this, you have been the key to our growth and turnaround, for without your support, we certainly wouldn't be making such a new start . . .

Plan now to come on down to your BYC on April 7 for the 6PM free party. These events the first Wednesday of every month (except when we have voting) are supported by several dedicated BYC members at no cost to our Club. Take advantage of these chances to meet your fellow members and have fun!

Joe Coons

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Updated Reciprocal List

Here's the first half of our reciprocal club list. These are clubs we exchange letters with, although under international club protocols, a Club like ours has reciprocity with every other club even without a letter, if it offers like services to ours. Full details are at our office in the Reciprocal Notebook. The full list will be in the next Roster.

The balance of the list will be in the May Jib Sheet.

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Barkley Sound Cruise Set

Past Commodore Dave Bradley has assumed the role of cruisemaster for a trip to Barkley Sound this summer, and set the dates.

The group will leave on Friday, August 6, at noon, with the first stop scheduled for Oak Bay on Vancouver Island, home of the Royal Victoria Yacht Club for overnight reciprocal moorage. Saturday's goal will be Port San Juan, and the following day, Bamfield, although the tides are not excessively kindly to this schedule!

Dave's son-in-law and family will be leaving Bellingham on the 9th, driving with a trailerable boat to Port Alberni, launch the boat, and meet the big-boaters at Bamfield. This idea could be followed by other BYC members who have trailerable boats!

Remember, Dave's boat Curren$ea is a sailboat, so you should be able to keep up with the group!

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Opening Day Approaching: Saturday, May 1

Saturday, May 1, is Opening Day, and certainly you'll want to be on hand. THE FABULOUS FIFTIES is the theme, so you'll want to get out your narrow ties, spike heels, swing skirts and bobby sox to be in the proper style . . . although contemporary is okay, too.

As usual, the boats will be up at the head of the Gate 3 moorings. Call Dockmaster Bob Kehoe 676-0898 for dock reservations: Current-year officers and directors get first priority.

There will be the traditional members' reception at 11AM in the Clubhouse, with the ceremonies at noon including the usual blessing of the fleet and boats away at 1PM.

We'll hold a basket raffle, too, as last year.

Whether you have a boat or not, C'mon down to your Club for a day of fun and entertainment!

If you are able to help with any aspect of Opening Day, Fleet Captain Bob Knudsen is looking for any assistance you can extend. His telephone number is 734-7756.

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Seminars, Anyone?

The University of Washington keeps us posted on upcoming seminars for your consideration:

Each of the seminars is at the Nordby Conference Center at the Fisherman's Terminal. More details, call Sarah at (206) 543-1225.

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Cruises Shaping Up, Popular June Kids' Cruise Dates Set

Fleet Captain Bob Knudson has set the dates for the popular BYC Kid's Cruise for June 19-20, Father's day. Featuring a trip to nearby Blakely Island Marina, the cruise should be a good one: The Marina offers remarkable facilities for family fun, with a nice barbecue shelter, dining area, small general store, and good shower and toilet facilities. Dinner will be a steak fry (or is it barbecue?) and there will be lots of fun and games.

Bob can use volunteers, and he needs your reservations. Call him at 734-7756.

In addition to the Barkley Sound cruise, the April Friday Harbor Tax Relief Cruise (below) and the Kid's Cruise, other cruises on the agenda include:

If you can help with any of these, please call Bob. The more volunteers, the better!

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Remember the Lifering Program? Have You Sent In Your Gift/Pledge?

These contributions will go directly to extra principal reduction of the debt on our building mortgage. THANKS to each donor so far! Now it's your turn. You'!ll be recognized on a plaque depending on your gift of $100 or more.

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Financial Report

During February, we continued our profitable trend, and our moorage began earning some money for us, too.

Not shown since it occurred early in March, was our prepayment to the Port for nine months' moorage (we saved almost $1,000 by doing so) and to our insurance carriers for the March '99 - February '00 term, saving considerable interest. Having a little money in the bank sure helps us out! We also paid down our mortgage substantially in March. Our next report, for March and April both, will be issued in June (because Assistant TreasurerJoe is away in April) and will be a good one!

I want to thank Jamie Foti who is pinch-hitting for Joe while he's on vacation, and also thank all the old and new members who been so prompt in meeting their dues obligations. As always, we welcome your questions and comments.

Jack Black, Rear Commodore & Treasurer
Here are the Club's Condensed Balance Sheets: On 9/30/98 On 2/28/99  
Cash on hand & in banks: $23,866.77 $40,968.42  
Accounts receivable 8,117.03 19,914.15  
Other current assets 23,393.53 2,817.34  
Total current assets $55,377.33 $63,699.91  
       
Fixed assets, net of depreciation $301,533.00 $306,661.60  
Total assets $356,910.33 $370,361.51  
       
Total Current Liabilities $29,020.40 $42,752.58 *
Note Payable, Bank 213,117.27 210,837.59  
Total Capital 114,772.66 115,015.40  
Total Liabilities and Capital $356,910.33 $370,361.51  
* Includes $47,662.52 in unearned or un-received dues      
       
Here are the Income Statements: 97-98 Year 10/1/98-2/28/99  
Dues $78,248.18 $18,758.91  
Building Lease Income 50,400.00 19,000.00  
Other Revenues 93,013.30 7,479.99  
Total Revenues $221,661.48 $45,238.91  
     
Building Expenses incl. Land Lease $24,603.99 $10,650.49  
Payroll & Payroll Taxes 19,166.10 39.48  
Programs and Activities 106,476.86 9,911.51  
Interest 20,168.44 8,595.32  
Depreciation 28,850.07 10,670.00  
Administration & Office 45,451.93 5,224.37  
Net Profit (Loss) ($23,055.91) $147.74  

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Greetings To Our New BYC Members!

Welcome to the 11 newest BYC Members who've joined since January 1, 1999. We're delighted to have you with us. Please call any officer or director if you have any questions or if we can be of any help!

WELCOME TO THE CLUB!

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Jr. Sailing Fees Set

There has been considerable discussion between parents of the Junior Racing Team and the Club regarding the income, expenses, and handling of funds used for the team, including the small number of team members, the cost to the Club of employee benefits for the team's coaching staff, and the fact that most team parents are not BYC members. Communications deteriorated between the Club and the parents to a point of great concern.

A delegation of Junior Sailing parents made a presentation to the Board of Trustees on March 18 for a reorganization of the program, with most activities to be conducted outside the Club's purview. After considerable discussion with the parents, the Board reaffirmed the intent of the Club to have a fully-recognized, properly certificated, insured and funded, continuing long-term junior sailing program, including both team and learn-to-sail activities, under the Club's full control as it has been for so many years.

Secretary Karen Callery and Trustees Michelle Johnson and John Gargett will be the liaisons between the parents and the Club in these matters.

In order to fund the program, the Board agreed that Junior Sailing Team memberships for youngsters would be free if they are the children of BYC Members, and $36 if not children of members. In addition, all Junior Racing Team members must buy a race packet, which packet shall be priced so that with a minimum of ten members, all costs of the team's activities will be covered.

Parents/Grandparents of youths interested in the program should call Karen Callery at 676-0784.


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