Venice Yacht Club Charitable Foundation

Fellow members...
2012 will be a year in which we aim to communicate with all who are interested in learning more about the mission, goals, functions and processes of the VYCCF. Communicate, educate, advise, inform, enlighten, share….these are our goals.

VYCCF is a Donor Advised Fund. Donor Advised Funds have long existed in the world of charitable entities (in fact, since the 1930’s!) but not until 2006 were governing laws enacted which significantly clarified how they operate. Our fund is one of many such Donor Advised Funds held at the Gulf Coast Community Foundation here in Venice. Some of the advantages of a Donor Advised Fund over a private foundation are the lower administrative costs, the fact that it is not subject to private foundation excise taxes, and separate tax returns do not have to be filed.

The VYCCF Committee is a group of VYC members who have been appointed to serve, and decide on the distribution of grants. It is this Committee which recommends the amounts of and recipients of each grant. It will meet quarterly in 2012.

We are in the process of formalizing the membership of the 2012 Committee. We intend to build upon the existing membership which includes Matt DePalma, Merle Graser, Jerry Jarrett, Michael Nemser, and DuPont Snowden. Commodore Bob Piel will serve as the Board representative to the Committee.

If you have an interest in serving on the Committee, please let one of us know via email (addresses below.) We will be recommending others for appointment.

The present balance in the VYCCF is just over $80,000. In 2011 the Committee set an aspirational goal to make grants in each year in the total amount of 10% of the balance existing in the account at the start of the year. This means approximately $8,000 to serve community needs and reflect the goodwill of the VYC membership. Having fun and doing good in our community….what could be better?

Ann C. Thompson, Co-Chair
Venice Yacht Club Charitable Foundation
ann@anncthompson.com
Janice Zarro Wood, Co-Chair
Venice Yacht Club Charitable Foundation
jazarro@aol.com

Charting a course to a better community…