Here are the minutes from the Board Of Directors meeting held last week on January 22, 2015:
2014 SSA Board Of Directors Meeting Minutes
January 22, 2015
The Sea Sprite Association Board Of Directors met Thursday evening, January 22, 2015, at the Country Inn in Warren, RI to review the year for 2014 and to plan for 2015. Present were Herb Brown, Dana Menillo, Bob Catani, Dejan Redeka, and Carter Hall. Chad Brown was absent. The following items were discussed.
OLD BUSINESS
Financial
The balance sheet for 2014 was reviewed. Net balance grew from $1169 to $2673. Income was generated by membership dues ($1925 from 77 members up from $1375 from 55 members last year) and race fees. Administrative costs continue low in the range of $250, but will be higher next year as initial 3 year prepayment of some costs expires.
Membership dues for 2015 will remain at $25. Our goal remains to have 6 years of operating costs saved.
Membership
Active dues paying members rose from 55 to 77 this year. For the past 2 years we have had a total of 98 members. States represented for the 2 years rose from 14 to 21. One email blast was sent and one web posting done reminding owners of dues. Several insertions were placed into the website suggesting users join the SSA. Membership may have grown because benefits were added for members only (10% off at Jamestown Distributors and Thurston Sails). Sea Sprite owners also joined to sell boats.
Dues as noted above will remain at $25 for 2015. Benefits will continue for members only, and a placement of a classified ad will still require membership.
Organization
The SSA remains well structured and financially intact. The website is active and fully accessible to all, with 75 visitors per day visiting 400 to 500 pages per day. Numerous rehab projects were documented and placed on the site. Bristol organized a How To Race Fast mid-winter seminar. Classifieds grew,with a total of 22 boats listed for sale in 2014 and 16 sold.
A suggestion was made to focus on enhanced PR. Ideas included promoting articles about the sea sprite in sailing magazines and about events in the Providence Journal, identifying local pr contacts to promote sea sprite sailing. Other ideas welcomed for sailing venues across the country.
Ads
The no ad policy continues. A Ship’s Store of limited items (no clothing to be offered) was added, and a fine arts print offered. The SSA will receive 10% of sales. Line drawings are also offered at cost. 2 local partners are promoted (Jamestown Distributors and Thurston Sails) as providing members with a 10% discount.
Current policy will be continued. No expansion planned.
NEW BUSINESS
Taxes
At current level of income, as a non-profit organization, the SSA will not be required to pay state or federal taxes. However, a determination by the IRS is required. It will cost a one time fee of $400. A yearly emailing declaration to the IRS is required as a tax report.
The determination fee of $400 will be paid this year, and a request for a tax-exempt determination review will be filed with the IRS. The email tax report will be filed for 2014.
Class Rules
The BOD directs that a Rules Committee be formed to develop class rules for the SS23. It will formulate a draft, submit the draft to the membership for review, and promulgate a final set of Rules And Regulations. The Rules Committee will have full and final responsibility for the Rules and their implementation.
Narraganset Bay SS23 Racing
Racing for NB was discussed. The current schedule is active and well received. However, there is some contention regarding high fees charged by Bristol YC for non BYC members to race in the weekly evening races. A meeting will be held this winter to review the planned fees by BYC for 2015 and to consider alternative racing plans.
New Board Members
Herb Brown has sold Scot Free, and wishes to resign. Paul Sollito will take his place temporarily until officially confirmed at the April meeting.
By-Law Changes
The following changes to the By-Laws will be drawn up and voted on at the Annual Meeting in April:
1. A Treasurer will be added to the organization and duties outlined.
2. A paragraph will be added delineating how SSA assets will be distributed in the event of the organization’s demise. The BOD proposes that assets would be distributed to a sailing non-profit organization such as The Herreshoff Museum.
These minutes have been reviewed and accepted by the Sea Sprite Association Board Of Directors on January 28, 2015.