We are incredibly excited to announce that Multihull Youth SAIL Foundation (MY SAIL) has applied to the IRS for non-profit, 501(c)3 status as a tax-exempt, non-profit foundation. From our by-laws:
“Purpose
“The purpose of the Foundation shall be to introduce and support multihull dinghy sailing and racing to youth and adults under the age of 25 (hereinafter referred to as ‘Youth’. However, Foundation activities may also target adults over the age of 25. The Foundation’s activities should be limited to no more than 25% of the Foundation’s annual schedule and/or budget.
“The Foundation will seek to encourage Youth in multihull sailing and racing through fun events, clinics, and regattas. ”
We are still in our infancy, putting the final touches on legalities and such. Expect more announcements here in the future. (And bookmark this page!)
