Why do we need a foundation?

The costs associated with maintaining and improving the Les Cheneaux Yacht Club facilities and programs continue to grow. Members dues are covering the operating costs but leave little left for large maintenance or improvement projects. By providing a tax deduction for donations we are hoping for increased member generosity by expanding our member’s giving options to private corporations and foundations that may be only able to give to 501(c)(3) organizations. Additionally, people can now give gifts from their estate upon their death, and it is deductible from their estate, as part of the death tax exemption, while also helping to carry forward their family’s legacy at LCYC into the future.

Will the foundation affect the sailing camp?

The foundation will not affect the operations of sailing camp, however, increased funding can improve both the facilities and boats used by the sailing camp.

Can I designate my donation for a specific cause?

The Foundation Board will make every effort to utilize any funds where specified as long as they fall within the purpose of the foundation and meet a need expressed by the Yacht Club.

Can I still donate to the LCYC directly?

Of course! Any donations sent directly to the LCYC will help members’ dues go further in improving the YC facilities and programs. These donations will not be tax deductible.