Grosse Pointe Youth Nautical Education Foundation
2018 ANNUAL REPORT
1| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT A GROSSE POINTE YACHT CLUB FOUNDATION BOARD OF DIRECTORS PERPETUAL SCHOLARSHIP Board members serve terms as DONORS defined by the by-laws of the Foundation. n Commodore James and Patricia Anderson (2012)
J. James Morrow President n Commodore John and Marlene Boll (2012) James A. Anderson Vice President n Manuel and Nora Moroun (2013) Jerey R. Laethem Director n Benno Steinborn (2014) Sean M. Schotthoefer Director Ilja J. Vreeken Director n Commodore J. James and Sandra Morrow (2014) Sloane R. Barbour Treasurer n W. W. Williams Company (2015)
Mark R. Weber, PhD Secretary n Edwin and Felicia Shaw (2016) Wallace E. Cross Outside Director n Commodore Tymon C. and Sheri Totte (2016) J. Theodore Everingham Director n Commodore Sean and Brian J. Geraghty Director Dr. Kristen Schotthoefer (2017) Michael. D. Murray Financial Advisor and Audit — n Commodore Ilja and Kelley Vreeken (2018) Polk & Associates
GPYNEF SCHOLARSHIP RECIPIENTS Name High School College Jonathan Crowe Brother Rice High School University of Michigan Mary Frame Grosse Pointe North High School Michigan State University John Godoshian Grosse Pointe North High School Indiana University Mitchell Irwin Eisenhower High School Grand Valley State University Alex Johnson University Liggett School Colgate University Brian Liu Detroit Country Day School Michigan State University Philip Peck Grosse Pointe South High School University of South Carolina Lindsey Ramsdell Grosse Pointe North High School Harvard University Eva Rossell Grosse Pointe South High School Michigan State University Thomas Schaden Grosse Pointe North High School Michigan State University Jack Sielicki Brother Rice High School Fordham University Alexander Soo Detroit Country Day School Tufts University Black Stackpoole Grosse Pointe South High School Hobart William Smith Colleges Skye Vreeken University Liggett School Savannah College of Art and Design John Walton Grosse Pointe South High School Roger Williams University
All photography by Michele Penoyer 2| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT YEAR IN REVIEW
The Grosse Pointe Youth Brother Rice/Marian High Schools 16th in the National Champion - Nautical Education Foundation and sponsored several regattas ships, ending the year ranked (GPYNEF) continues to pursue its throughout the spring season. All 12th nationally. In addition, the mission to promote national and of the 12 high school teams from Grosse Pointe South High School international sailing, maritime the metro Detroit area did well girls team qualified and finished education, competition and water as they participated in regattas 14th for the Girls’ National Cham- safety. This year we continued our throughout the State and regionally. pionships, held in October 2018 focus on high school programs, Grosse Pointe South had a “stand at San Diego Yacht Club in San competitive events, educational out year” as they achieved excel- Diego, California. opportunities, including work- lent results in all the regional qual- Part of the mission of the ing closely with the Challenge ifying regattas and earned a spot GPYNEF is to provide financial the Wind organization to extend to sail in the ISSA Baker Team support to sailors as they enter these opportunities to the National Championships in San college through scholarships. residents of Detroit. Diego, California, finishing 10th This as a banner year for our The year began with an early overall. The Grosse Pointe South scholarship program, which start as the high school’s varsity team also raced in the National provided 15 scholarships to young season began on March 15, 2018. Championships, held at Lake- sailors. The GPYNEF has awarded Despite the cold, the high school wood Yacht Club in Seabrook, a total of 72 scholarships to young teams launched into a very strong Texas. Only the top two teams in sailors from around the Metro season. The GPYNEF provided the MISSA region qualified for this area. The scholarships were initi- financial support to Grosse Pointe event, out of 115 high schools. The ated to promote sailing and to South, Grosse Ponte North and Grosse Pointe South team finished encourage sailing at a young age. Continues page 4
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |3 Year In Review YEAR AHEAD (continued) As the high school varsity In the year ahead, the Grosse Pointe Youth Nautical Education sailing has grown, our reputa- Foundations plans to continue with its aggressive support and promotion of tion as an energizer of the sport the high school sailing programs and award a minimum of 10 college schol- has expanded, as well. This was a arships. Our local area high school sailors continue to improve on a national break out year for the “Challenge scale, in part, due to the travel experiences they have. Our region now has the Wind” program. We were able 124 high schools providing outstanding competitive experiences. We will to work with them to move their continue to sponsor regattas at the GPYC and promote clinics to provide program to the Detroit Boat House the best possible training experiences. (formerly the Detroit Boat Club), In addition, the GPYNEF will sponsor the provided eight Optimist dinghy USODA National Championships at the GPYC sailboats, donated two additional July 20-28, 2019. This event will draw over 400 floating platforms to launch boats, Optimist sailors, 8-15 years old. These young and refurbished 120 feet of dock sailors will come from across the USA and to provide a safe launch area. We draw some talent from Europe, Asia and South provided funding, equipment and America. This is truly an international event. volunteers to assist them to grow We will continue to provide support to Chal- 2019 their program. lenge the Wind as it settles in at the Detroit Boat GPYC Sponsorship of regional House on Belle Isle. The foundation will provide USODA regattas and support for special sponsorship of regattas and extend our support to NATIONALS groups, including advanced the college sailing teams for the first time. sailors who are moving forward Enhancing youth, high school, competitive, to national level programs, are and adaptive sailing would not be possible without the generous support programs we continue to support. of GPYNEF donors. Some of these young sailors are even working toward Olym- pic qualification. We are contin- uously working to expand our interests and reach, an example is our latest support of Set Sail for Autism to provide a program for young sailors with special needs. 2018 has been an exceptional year with many great accomplish- ments, and we plan to continue to build on these successes in 2019. We greatly appreciate your support and funding that allows us to continue to grow these programs.
4| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT GPYNEF AND CHALLENGE THE WIND New Location, Boats and Floating Docks Position NonProfit to Benefit Even More Youth
The GPYNEF continues to and sail shed, as well as room for Specifically, the GPYNEF play a pivotal role in the growth of additional boats and docks. The helped CTWYSP obtain eight Opti- Challenge the Wind Youth extra space and equipment allows mists, growing that fleet to 12. The Sailing Program (CTWYSP), a for more instructors, resulting in additional donation of two floating Detroit nonprofit with a mission “to more young people learning the docks creates a space from which introduce and teach sailing to young important life skills such as team the entire fleet can be launched. people who would otherwise never building associated with the sport Continues page 6 get exposed to the sport.” of sailing. In 2018, the program benefited greatly from the GPYNEF — the most obvious example being the program’s move from Kean’s Marina to Belle Isle Boat House (Detroit Boat Club). Not only is it an ideal location on the Detroit River, it is also safe, easy to access and allows for more public visibility. The Boat House has many other advantages such as a protected sailing area, indoor classroom
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |5 GPYNEF AND CHALLENGE THE WIND (continued)
These floating docks are critical “Our mission, plans and results CTWYSP two more 420 sail boats, to safely rig and launch the boats would not be possible without our bringing GPYNEF’s donation to four used by the sailors. In addition, 100 outstanding sponsors, instructors in total. feet of existing, rotting docks and volunteers,” says Challenge the Challenge the Wind has been were refurbished. Wind Director Harry Jones. “Words in existence since 1994. It is a non- The GPYNEF also facilitated an can’t express my gratitude for the profit 501 c 3 and a member of the important safety boat upgrade for contributions of GPYNEF which Detroit Regional Yacht-Racing CTWYSP by reaching out to Sun made 2018 a very successful season.” Association and US Sailing. Sport Marine in Harrison Town- Part of Challenge the Wind’s ship. This connection allowed CTW plan for next year is to increase the YSP to benefit from Sun Sport’s reach of the program to a broader generous gift of a new Yamaha out- community. GPYNEF looks forward board engine. to playing a part in that by giving
SPECIAL THANK YOU
for partnering with GPYNEF in support of the Challenge the Wind Program
6| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT THERE HAS NEVER BEEN A BETTER TIME TO GIVE The New Tax Law Makes it Easy
Taxpayers will be a¦ected in Qualified retirement funds the federal level. No long-term di¦erent ways by the changes in (IRAs and employer plan funds) capital gain tax at all. tax law made in December 2017. can be subject to both income Any part, or all, of the IRA But the charitable contributions taxes and estate taxes, so the tax funds can be paid directly to a deduction has been fully preserved burden can be greater than 50% on Charitable Organization as a to reduce personal income tax these investments. beneficiary upon death. burdens and incentivize continued Taxpayers over age 70 ½ must Other devices can be used, charitable giving. withdraw and pay income tax on such as a Donor Advised Fund, Personal income taxes may their Required Minimum Distribu- or a Charitable Annuity or be reduced by up to 37% of contri- tion amounts, but they are allowed Charitable Lead/Remainder butions you make to qualified to send funds from the IRA directly Trust. These methods can be used charities like the GPYNEF. to a qualified charity, reducing the in di¦erent ways to accomplish Estate/inheritance taxes may taxable annual RMD. This also goals of increasing retirement be reduced by as much as 40% of saves Michigan tax of 4.25%. income and/or tax planning. similar contributions. This would Tax can also be avoided by Your own tax counsel should mean additional tax reductions for contributing appreciated stock, be able to assist in the details of taxpayers whose estates will pay since a deduction for the “full these planning tools, but now is the the U.S. Estate Tax. fair market value” is allowed at time to “set sail” on the best course.
SCHOLARSHIP GIFTS
There are 10 perpetual scholarships funded to be awarded each year in the donor’s names, which becomes a family legacy. Scholarships are awarded annually at the scholarship brunch during the Great Lakes Boating Festival during which time the donor, or their family, has an opportunity to meet the scholarship recipient that year. There are also individual donor-named scholarships available each year for those wishing to participate on an individual year basis. Through 2018, GPYNEF has awarded a total of 72 scholarships. Anyone interested in establishing a scholarship should contact Jim Morrow at [email protected] or visit www.gpynef.org for more information. The plaque shown, hangs in the GPYC lobby and lists the perpetual donors.
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |7 Left to right, Scholarship Recipients: John Godoshian, John Walton, Blake Stackpoole, Alex Johnson, Skye Vreeken, Alexandra Soo, Eva Rossell, Thomas Schaden, Brian Liu, Mitchell Irwin, Philip Peck, Jonathan Crowe. Not pictured above: Jack Sielicki, Mary Frame and Lindsey Ramsdell. RECORD SCHOLARSHIPS Awarded in 2018
The applicants for the Grosse based on academic and scholastic 2019 Scholarship recipients will Pointe Youth Nautical Education participation. High school seniors be awarded at a special brunch on Foundation scholarships were or freshmen in college in the Sunday, May 17, 2019. impressive and competitive. With Detroit Regional Yacht-Racing outstanding ACT and SAT scores, Association (DRYA) area are dedication to the sport of sail- eligible to apply for a scholarship. ing and remarkable essays, 15 The scholarship assessment college-bound students were uses three criteria found in awarded $1,500 GPYNEF scholar- the Application Form: two ships in 2018 —an increase from original essays (topics provided) previous years. the applicant’s sailing resume Since 2012, the Foundation has and documentation of their provided a total of 72 scholarships. academic accomplishments. Each of these scholarships is given Applications for the 2019 in the name of a donor with nine Scholarship Program can be funded in perpetuity. found at www.gpynef.org/ Scholarship qualification scholarships. Applications must includes any sailing experience be received at the Grosse Pointe at a club, high school or junior Yacht Club by April 2, 2019 2018 GPYNEf Scholarship Recipient sailing program and are awarded for consideration. Jack Sielicki
8| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT Top left: Mr. and Mrs. Godosian, Scholar- ship Recipient John Godosian, Judy Weber and GPYNEF Board Member Mark Weber.
Top right: Summer Breeze Acquisition Chair Renee Seago receives a thank you gift from GPYNEF President Jim Morrow for her contribution. Above: Scholarship Donor Sean Schotthoefer Above: Harold and Torey Stackpoole, Scholarship with Scholarship Recipient Philip Peck and Recipient Blake Stackpoole with Scholarship parents, Abby and Je¦ery Peck. Donors Felicia and Ed Shaw.
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |9 10| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT SUPPORTING HIGH SCHOOL SAILING TEAMS
The GPYNEF promotes local high school sailing programs by providing financial support to help fund expert coaching, educational clinics, state-of-the art equipment, travel grants and other resources which enable a competitive environment to learn and advance in high school sailing. In 2018, The GPYNEF provided financial funding to Grosse Pointe South, Grosse Ponte North and Brother Rice/Marian High Schools and sponsored several regattas through the spring season. The GPYNEF is proud to support 12 local area sailing teams that regularly perform well in local and national regattas.
Standing in back, left to right: Grosse Pointe South Coach Jim Cooper, Harold Stackpoole, GPYNEF President Jim Morrow, Grosse Pointe South Athletic Director Christopher Booth. Seated: Board Member Mark Weber with State Champion Team Member Blake Stackpoole.
Visit https://www.youtube.com/ watch?v=9jhLxRbIAo8&t=7s to see Grosse Pointe South’s Sailing Team video.
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |11 GPYNEF EDUCATIONAL, COMPETITIVE SAILING GRANTS:
DAVE PERRY TEAM RACING CLINIC APRIL 2021, 2018 GPYNEF brought Dave Perry to the Grosse Pointe Yacht Club to conduct a Team Racing Clinic in April. Forty high school students from six schools participated in the two-day event which included on-the-water and land exercises. Dave Perry is a two-time Congressional Cup Champion, three-time US National Match Racing Champion, America’s Cup and Olympic Match Racing Coach, and author of several books on sailing and rules. The clinic proved beneficial as many of the attendees had a successful sailing season.
SOUTH’S WOMENS VARSITY SAILING TEAM GOES TO NATIONALS OCTOBER 2018
After placing second in the Women’s Midwest High School Sailing Championship in Chicago, Illinois, the Grosse Pointe South women’s varsity sailing team moved onto the Girl’s National Championships held in San Diego, California in October where they finished 14th. GPYNEF provided the team with a grant to pay for half of the travel expenses to head to the West Coast. Left to right: Julia Hudson, Carley Orhan, Audrey Whitaker, Gwen Hudson, Anna Carron, Emma Turner
12| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT GPYNEF COMPETITIVE COMMUNITY SUPPORT AND SAILING GRANTS:
SAILING WITH A HEART 2018 LEUKEMIA CUP
High school students brought breakfast were donated to the raise the most amount of money their competitive spirit and Leukemia Lymphoma Society will win the coveted Leukemia passion for sailing to the one-day (LLS). Now in its 31 st year, the Cup trophy. May 12th event for a good cause — Leukemia Cup helps to fund The event organizer and the 2018 Leukemia Cup, held at life-saving research and treat- MISSA East, Vice President Dr. the Grosse Pointe Yacht Club. ment for blood cancers. Sailors Lynn Frikker was also on hand Entry fees and proceeds from participate from all over the coun- to register people for the national a GPYNEF-sponsored pancake try and those communities who donor bank.
MISSA MALLORY/BAKER QUALIFIERS GPYNEF sponsored the MISSA East Mallory Qualifiers, co-ed MAY 2018 fleet racing at the Grosse Pointe Yacht Club in early May. Only the top four teams earned berths at the Nationals in Seabrook, Texas. Grosse Pointe South High School’s sailing team finish 16th in the nation. GPYNEF supported local competitors who traveled to the Baker Team Racing Champion- ship in San Diego, California over Memorial weekend where Grosse Pointe South’s team finished tenth.
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |13 GPYNEF FUND-RAISERS The area’s premier in-the-water boat show, The Great Lakes Boating Festival, the Summer Breeze Auction and Party are two great traditions that are essential components of the Grosse Pointe Youth Educational Foundation’s annual fund-raising e¦orts. Join the fun. Help raise the funds needed to keep the Foundation growing as fast as interest in junior sailing is growing. SUMMER BREEZE PARTY AND AUCTION Friday evening, May 17, 2019 Party with a purpose while work of the Foundation than to be is the date of the Yacht Club’s enjoying great food and fun, part of the action at the Summer Summer Breeze party celebrat- bidding on fabulous items in a Breeze. For more information visit: ing the opening of the boating live auction and dancing the www.greatlakesboatingfestival.com season and the Great Lakes Boat- night away. There isn’t a more ing Festival. enjoyable way to support the
14 | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT THE GREAT LAKES BOATING FESTIVAL The Great Lakes Boating Festival, open to the public, will fill the Grosse Pointe Yacht Club harbor the weekend of September 17 – 19, 2019 with state-of-the-art boats, that range from center consoles to luxurious motor yachts. While the harbor is full of the latest in boats, the GPYC’s east lawn is host to a variety of nautical-related exhibits and artists booths…not to mention delicious food. Watch a Stadium Sailing Race or race remote controled boats in the Club pool. There is fun for all ages. With fund-raising ra¦les for boats, cars and Rolex watches going on all weekend, the Festival is a great way to see your friends, get aboard the latest boats and support the GPYNEF.
Visit https://youtu.be/C6XSMHclwTk to view a video of the Festival
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |15 SPONSOR SUPPORT
The two annual fund-raising events held at the Their dedication to the Foundation’s goal to GPYC provide important financial support to the promote national and international amateur sail- Grosse Pointe Youth Nautical Education Foundation. ing, maritime education and competition, and water A key to the events’ fundraising success safety should be acknowledged by all. can be linked directly to the generosity of sponsors who donate time, money and products to make the exhibits, ra¦les and auctions so successful.
GREAT LAKES BOATING FESTIVAL SPONSORS
GOLD
SILVER
Boston Whaler Donors: RAY LAETHEM MOTOR VILLAGE
BRONZE
IT Innovation. Business Value.
16| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT GPYNEF CONTRIBUTORS
PLATINUM $·¸,¸¸¸–$¹¸,¸¸¸ SILVER $·,¸¸¸ – $¹,¸¸¸ BRONZE Ascension St John Hospital Beno Steinborn Mr. & Mrs. Daniel Aitken edmund t. AHEE Jewelry Mr. & Mrs. Daniel C. Bracciano Mr. & Mrs. Robert Alati Fifth Third Bank Dr. Mariann M. Channell Mr. Mark Allen Genesis Cadillac (Gagliano Family) Gasparilla Inn Mr. & Mrs. Thomas Alongi Mr. and Mrs. Joseph J. Haney Mr. & Mrs. Jason M. Geisz Mr. & Mrs. Harold Awdey Commodore Sean M. & Mr. Jason J. Grobbel Mr. & Mrs. Robert Baker Dr. Kristen Schotthoefer Grosse Pointe Yacht Club Mr. & Mrs. David G. Barthel Commodore and Tymon C. and Mr. & Mrs. Joseph J. Haney Mr. & Mrs. Daniel Blake Mrs. Shri Totte Ms. Coeta Holloway Ms. Lindsey Brown Commodore Blaise A. & Mr. Buckberg GOLD $¹,¸¸¸ – $·¸,¸¸¸ Mrs. Carol Klenow Commodore James A. & Mr. & Mrs. Thomas Buda Mrs. Patricia A. Anderson Mr. & Mrs Michael G. Kolb Mr. Tmothy Busch Mr. & Mrs Patrick M. Bacheller Mr. & Mrs. Graham C. Korne¦el Mr. & Mrs. William J. Champion Mr. & Mrs. Peter G. Beauregard Dr. Lisa Manz-Dulac Mr. John Chartrand Commodore John A. & Mr. & Mrs. James Mestdagh Mr & Mrs. Dennis M. Corrigan Mrs. Marlene Boll Mr. and Mrs. Manuel J. Moroun Mr.& Mrs. Wally Cross Colony Marine ( Pete Beauregard) Ms. Particia O’Kelly Mr. Fredrich B. Detwiler Corporate Optics ( Steve Simmons) Mr. & Mrs. David E. Paschke Mr. & Mrs. Kevin M. DiDio DTE Energy Mr. James E. Penman Mr. & Mrs. James Filmore David W. Elliott Mr. Thomas Raguso — Mr. Craig Graham Sun Sport Marine Memorial Foundation Commodore Kevin B. & Mr. & Mrs. David Girodat Renewal by Anderson Mrs. Julie Granger Commodore Gary H. & Mr. & Mrs. Thomas C. Ritter Mr. Jason J. Grobbel Mrs. Christine Gonzalez Mr. & Mrs. John T. Seago, DDS Mr.& Mrs. Timothy S. Groustra Grosse Pointe News Secure 24 ( Matt Wenzler) Mrs. Brenda Grund Mr. & Mrs. Michael Gualdoni Mr. & Mrs Edwin B. Shaw Mr. & Mrs. Ryan Hathaway Mr. Robert S. Kaiser Mr & Mrs. Steven P. Simmons Mr. Timothy Helwick Laethem Motor Village Mr. & Mrs. Sean Southers Mr. Scott E. Hossack (Je¦ Laethem) Mr. John E. Sullivan Mr. & Mrs. Andrew Housey Mr & Mrs. Je¦ery R. Laethem Ms. Mary Beth Tebben Commodore W. Theodore, Sr. & Mr. & Mrs Gary F. Marowske Mr. & Mrs. William S. Turner Mrs. Mary Huebner Mr & Mrs. J. James Morrow Mr. & Mrs. Michael A. Tusa — Mr. & Mrs. Glen Hurst Mr & Mrs. Joseph Simon Mike’s Marine Mr. Michael Johnson Mr. & Mrs. Paul Silva Commodore Ilja and Kelley Vreeken Mr. Ken Karachi Sterling Insurance Mr. Steven G. & Dr. Ginette Vreeken Mr. & Mrs. Michael Kirkman (J. Haney & Paul Mattes) Mr. & Mrs. Matthew J. Wenzler Mr. Jonathon Kopija Williams Family Foundation WOMC Radio
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |17 GPYNEF CONTRIBUTORS
Bronze (continued) Dr. & Mrs. Brian M. Litch Mrs. Norma L. Riehl Commodore William C. Jr. & Mr. & Mrs. Michael MacLachlan Mr. & Mrs. Christopher Rodriguez Mrs. Susan Vogel Ms. Amy Krueger Malow Mr. & Mrs. Michael A. Samhat Mr. & Mrs. William C. Vogel III Mr. & Mrs. Travis Mentera Mr. & Mrs. David M. Schaden Mr. Michael Voll Mr. & Mrs. Jose Merino Mr. & Mrs. James J. Schebil Mr. & Mrs. Gerrit A. Vreeken Mr. Henry Mistele Mr. & Mrs. Douglas Scheibner Ms. Danielle DeLuca-Vyletel Mr. & Mrs. Robert Nahra Mr. & Mrs. Thomas Shaw Mr. & Mrs. John Walton Mr. Joshua Northrop Mr. & Mrs. Glenn C. Sheets Mr. Mark Walz Mr. & Mrs. Antoine Obeid Mr. & Mrs. Michael Silver Mr. & Mrs. Brian Watson Mr. & Mrs. Daniel Padilla Mr. & Mrs. Daniel A. Simon Mr. William Dillon & Ms. Jennifer Winckler Mr. & Mrs. Dominic Paluzzi Mr. & Mrs. Howard A. Smith Commodore Mark R. & Dr. & Mrs. Peter Panagopolous Mr. & Mrs. Harold Stackpoole Mrs. Judy Weber Ms. Athina Papas Mr. & Mrs. Thomas L. Szott Mr. & Mrs. Todd Webster Ms. Maria Papas Dr. Linda Tietze Mr. James White Mr. Thomas Papraptis Mr. & Mrs. Phillip Trupiano Dr. Robert Woodhall Mr. & Mrs. Stephen C. Perry Mr. & Mrs. Edward Van Rossen Commodore Carl, Jr. & Ms. Amanda Vintevoghel Mrs. Grace Rashid
18| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT Grosse Pointe Youth Nautical Education Foundation For the Years Ended October 2018 and 2017
2018 2017 CONTRIBUTIONS $83,584 $67,960 INCOME — GLBF/SUMMER BREEZE 99,641 108,853 Investment Income 1,668 59,365
OPERATING EXPENSES Grants and Event Support 113,841 109,305 Administrative Expenses 33,851 32,645 Depreciation and Amortization 654 990 Professional Fees 4,946 5,373
Total Operating Expenses 153,292 148,313
Increase (Decrease) in Net Assets $31,601 $87,865
CURRENT ASSETS Cash in Bank and on Hand $18,927 $24,498 Schwab Investment 183,544 183,464 Schwab Scholarship Funds 387,162 349,416
Total Current Assets 589,633 557,378
OTHER ASSETS 4,471 5,125 TOTAL ASSETS $594,104 $562,503
*No pay is given to support the Foundation
GPYNEF GROWTH 2011–2018
$, $. $, $, $, $, $, $, $, $, $, $, $, $, $,
$
TOTAL ASSETS SCHOLARSHIP FUNDS
2018 ANNUAL REPORT | GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION |19 The Grosse Pointe Youth Nautical Education Foundation’s mission is to promote national and international amateur sailing, maritime education and competition, and water safety.
Grosse Pointe Youth Nautical Education Foundation 788 Lake Shore Drive Grosse Pointe Shores, MI 48236 www.gpynef.org | www.greatlakesboatingfestival.com 20| GROSSE POINTE YOUTH NAUTICAL EDUCATION FOUNDATION | 2018 ANNUAL REPORT