You Can Make a Difference
How Can You Support the ILCA?
The ILCA has established many alternatives to enable members and friends to make special gifts and bequests of lasting significance—to help ensure the long-term viability, vitality and mission of the Class:
- The ILCA Fund
- The Boat Grant Program
- The Limbaugh Fund
- The Mary Huntsman History Fund
- Annual Operations Support
The ILCA Fund
Charter of the Fund
The ILCA Fund was established in 1981 as a way to guarantee the long-range operations of our Class. Contributions to the Fund may be used to pay for the ordinary operating expenses of the ILCA, to advertise and promote the sport of Lightning Class sailing or for any other purpose approved by its Board of Directors.
The ILCA Fund supports the US Sailing award winning Lightning Boat Grant Program and the International Fleet Development Initiative.
Fund Directors: SteveDavis (Committee Chair)
, Bill Fastiggi
, Lenny Krawcheck
, Paco Sola
, David Starck
The Boat Grant Program
You can donate cash, boats, covers, sails, trailers, etc. to support this innovative program to attract young racers to the Lightning. Designed to help young sailors experience the high level of competition offered by the class, this revolutionary program offers a unique opportunity among one-design classes. While many one-design classes struggle to attract and retain young sailors, the Lightning Class is taking active steps to give young adults a leg up: the past two summers the class provided fully rigged, insured and competitive boats for worthy teams for the sailing season. The recipients participated in Fleet, District and National regattas.
The Limbaugh Fund
Charter of the Fund
The Limbaugh Fund was established in honor of two of our most avid supporters. Helen was our Executive Director from 1965 to 1982. Jay was our Class President in 1964. Both remained strong supporters of the Class long after their tenures were completed. Because of Helen & Jay's strong interest in Junior sailing, and their belief that our Juniors are the future members and officers of our Class, the organizers of the fund have dedicated these funds toward Junior activities.
Use of the Fund
The available monies in the Limbaugh Fund are restricted to support of education, training, and the promotion of Junior sailing. Only income generated from Limbaugh Fund investments may be used. The principal may not be spent. Uses of these funds have included support for the Youth World Championships, the Sears Cup, funding Junior racing clinics, trophies, promotion of youth regattas, etc.
Fund Directors: Michael Huffman
, Matt Fisher
, Bill Bogardus
The Mary Huntsman History Fund
Charter of the Fund
The Mary Huntsman History Fund's primary objective is to help recover and properly preserve the Lightning Class heritage. The Fund is named after Mrs. Mary Huntsman, Past President and Officer of the Class, and who was the first to hold the Historian VP position when it was established. Under her Presidency, Mary secured the purchase of Lightning number one and subsequently coordinated its donation to the Mystic Seaport Museum, where the boat has been restored and is displayed.
Use of the Fund
The Mary Huntsman Lightning History Fund was formed in 2004. Its primary objective is to help recover Lightning memorabilia and properly preserve Class heritage.
Fund Directors: Clayton Gray
, Victor Lobos
, Todd Wake
Annual Operations Support
Helps support the historical record keeping, communication with the members and fleets world-wide, website maintenance and the ability to service the membership and respond to new inquiries about the Class.
The laws of the U.S. permit its citizens to choose how to dispose of possessions at death. The ILCA has been granted status as a 501C3 charitable organization by the Internal Revenue Service. As such, your gifts to the Class can be deducted from US income and estate taxes. These tax laws make giving to the Class both economical and philanthropic.
Your donation will be recognized in the ILCA Yearbook as follows:
Benefactor $500 or more
Donor $100 or more
Supporting $50 or more
Contributing $20 or more
How May Gifts be Made During Your Lifetime?
Gifts of Cash: A gift of cash during a person's lifetime is the simplest type of gift. These can be made in person or anonymously, directly or on behalf of another person. Gifts within a year are deductible from that year's income taxes. You may send a check to the ILCA at any time or include an extra amount of money in the renewal form when you pay your membership every year.
Gifts of Marketable Securities and Investment Real Estate: Gifts of appreciated securities and real estate held for investment purposes are often more beneficial to the donor than gifts of cash. When such items are donated, the donor receives a contribution deduction equal to the current market value of the security and generally, the excess of the market value over the donor's cost basis is not taxed. Often it can be advantageous to donate substantially appreciated items than to sell them and pay the capital gains tax.
Gifts through Wills: Remembering The ILCA in your will is another method of giving. Such a gift is deductible in calculating estate taxes. Provisions for the gift may be included in the body of the will or by adding a simple codicil. If you desire to establish a separate memorial gift within either the ILCA Fund or "Limbaugh" Fund, or to specify the purpose of the gift, this may be done by so stating in the provisions of the will.
Gifts of Boats and Equipment: You may consider donating your boat and equipment to the ILCA, thereby helping make them available to newcomers. You can deduct the fair market value of your donation from your income or estate taxes. It may be more advantageous for you to give the boat to the class than to sell it. The Class has the procedures in place to facilitate making this important gift.
There is no time better than the present to make gifts to our Class. Your contribution will assure that the next generation of sailors will have the same support that we all now enjoy. We hope you will consider planning an ILCA donation, always informed, by appropriate legal and financial counsel.