14th Annual Appeal
I2m Yacht Development Foundation [I2mYDF] was conceived in Greenwich, Connecticut in 2006 on the Western end of Long Island Sound which has made such a significant historical contribution to the America’s Cup and the maritime history of the United States. I2mYDF first began wit h the acquisition, restoration and preservation of our first America’s Cup Class I2m yacht America II / US42 (2007) whose syndicate campaigned in the 1987 America’s Cup in Perth, Australia. In (2010) we restored and continue to preserve Lionheart /K18 which challenged for Great Britain in the 1980 America’s Cup in Newport, RI and in (2014) we restored and preserved Freedom / US30 – the last American 12m winner of the 1980 America’s Cup in Newport. As we celebrate and transition through 14 years of operation –we remain true to our Charitable Mission to “acquire, restore, and preserve historic America’s Cup Class 12m yachts and their match racing heritage. We are now ready and pleased to announce new and exciting plans to expand and acquire -both here and abroad –from affiliate companies that have approached us with a similar mission for acquiring, restoring and preserving 12m, other IACC and “J” classes of historic Americas Cup Class yachts – companies compatible with our interest in building a year-round global operation. As a 501c3 Public Foundation 12mYDF has sustained its annual growth and development only through the continued contributions of our many dedicated patron enthusiasts, benefactors and partner charities.
Over the last 14 years our historic yachts have been engaged in producing and supporting many educational initiatives, corporate and cause related programs which include the following milestones:
- Raised near $4.65m in enabled charitable giving with our America’s Cup yachts used as live auction experiences for many charitable foundations like the AMERICARES, Waxman Cancer Research Foundation, Hole in the Wall Gang Foundation, Multiple Myeloma Research Foundation, Juvenile Diabetes Research Foundation and Outward Bound, USA – becoming one of Fairfield County’s largest charitable donors.
- Enlarged our educational Match Race Programs in cooperation with the JSA (Junior Sailing Association of LI) at major yacht clubs such as Seawanhaka-Corinthian, American, Pequot, Norwalk, Noroton to name a few.
- Delivered leadership and team building programs to major corporate patrons such as: GenRe/Berkshire Hathaway, Swiss Re; Bridgewater, M&M Mars, Morgan Stanley, Goldman Sachs, Deutsche Bank and more.
The major goals of our 14th Annual Appeal are:
- Acquire, consolidate the America’s Cup Class I2m Fleet between Greenwich, Newport & Nassau Bahamas!
- Expand our operation year-round to acquire and expand other business operations -both here and abroad -with similar interest of acquiring, restoring and preserving other classes of Americas Cup Class yachts.
- Broaden and deepen our educational sail and match race clinics among the many yacht clubs of Long Island Sound for young sailors of USS, the JSA, with other sailing enthusiasts – from executive training and leadership programs at major corporations, colleagues and schools.
In addition, our long terms goals include:
- Building an Annual Endowment to support a worldwide operation with major new benefactors and donors.
- Broaden our Annual America’s Cup Class 12m and other AC Class events here and abroad while enhancing historical awareness of the America’s Cup in the Long Island Sound and worldwide, as it contributes to the maritime history of the United States and other countries.
l2mYDF’s 14th Annual Appeal in year 2020 offers an extraordinary one-time 100% IRS tax exemption for any patron cash donation of any amount which can make a significant impact -in this extremely difficult Pandemic year- to the continuing success of our charitable mission of acquiring, restoring and preserving our historic America’s Cup yachts and their match racing traditions on a year- round worldwide basis. Please be generous!
*Acquire/ Consolidate the America’s Cup Class Fleet of yachts between Greenwich, Newport, and Nassau with plans to expand and acquire companies -both here and abroad -with similar interest of acquiring, restoring and preserving 12m and other IACC and “J” classes of historic Americas Cup Class yacht -in pursuit of building a year-round global operation.
Discussions and acquisition plans are underway with our Newport I2m and Nassau, Bahamas IACC affiliate organizations on a historic transition which will maintain the Newport I2m and Nassau IACC, Bahamas operations in combination with our current Greenwich, Ct. foundation.
$250,000.00 / $500,000.00
Launch & Establish l2mYDF Endowment
Build permanent interest baring endowment to continue to help fund the acquisition, restoration and preservation of historic America’s Cup Class Yachts, their traditions, and ongoing program development requirements.
I2m Off-Season “Requirements” for Lionheart K18 > Dec 2020- March 15th 2021
Winterizing –preferred out of water, shrink wrapping including bottom cleaning, removal and de-rigging of l2m masts for restoration, general winter hull and bottom cleaning, restoration, continued restore of hydraulic systems. Update and restore our 24’ Novurania tow Rib, leaky tubes, hydraulic steering – refurbished our Yamaha 200 hp Engine, acquire repair, restore existing sails –, restore bilge systems – maintain insurance/storage, upgrade web/marketing/ mgmt./operations.
Spring “Requirements” for Lionheart K18 > Mar 16th – April 20th, 2021 –
Spring prep- Includes customary short-haul bottom repairs and restoration -apply antifouling paint, execute topside and new deck paint, repack, repair keel and trim tab bearings, de winterize tender engines, repair and clean speed and depth senders on l2m K18, paint and refit mast, re-rig and launch l2m – execute sea trials – maintain insurance / storage, upgrade web/marketing /mgmt./ operations
Seasonal Infrastructure “Requirements” > May 21- 2020 –November 2020
Ongoing dock replacement, restoration, repairs and maintenance, stain and refurbish docks, maintain/restore Tender/Rib Yamaha Engine, acquire used tender two axle trailer, install Bimini top or canvas retractable top, and front tow post capabilities. Maintain insurance/ storage /fuel, enlarge program marketing /mgmt./operations.
Additional ways and options to contribute tax exempt annual support
Benefactors – Suggested levels of involvement
Endeavor Society: $100,000.00 -$250,000.00
Admiral’s Club: $50,000.00-$100,000.00
Flag Officer: $10,000.00- $25,000.00
Patrons- Suggested levels of involvement
Captain: $5000.00 > $10,000.00
Helmsmen: $3000.00 > $5,000.00
Crew: $1000.00 -$3000.00
Each year, generous contributions to the Annual Fund help assist and sustain 12mYDF general operating expenses and sail education programs. The Annual Fund also provides essential ongoing funding to cover the ongoing costs of year- round operations, part-time accounting, marine insurance, crew costs, communications and marketing, secured and unsecured note repayments, credentials renewal, and membership administration
Charitable Giving and Getting -Financial Assistance Programs
We contribute significant annual financial support through the use of our America’s Cup yachts, match racing pairs- as available- and “signature” fleet regatta’s through your charity or foundations live auction event or benefit. l2mYDF in fact annually enables the contribution of hundreds and thousands of dollars – significantly more dollars than it actually takes in received giving.
With some planning, you can ensure that the l2mYDF programs you care about will be sustained for future generations. You may be able to increase your charitable deductions, or benefit from additional income during your lifetime, while contributing more than you may have thought possible to l2mYDF.
Gifts of Stock or Securities
A gift of appreciated stock, bonds, or mutual funds, if you have held them for more than a year, will provide a greater benefit to l2mYDF while avoiding capital gains taxes. l2mYDF would be pleased to assist you in transferring securities to support the l2mYDF program of your choice.
In addition to support for the l2mYDF operations and education programs, donors may designate gifts to a range of special projects at l2mYDF.
To designate your gift to a particular area of interest, including:
- Education, VIP lectures, and special clinics
- New I2m acquisitions, restoration, and preservation projects
- I2m sail clinics, and curriculum development
- Infrastructure facilities or another special project
Endowed funds support l2mYDF programs in perpetuity and minimize the foundations dependence on annual donations. Endowments include dedicated funds for new AC vessel and tender acquisitions, training crew and sail instructors, facilities, education program, and special programs. l2mYDF encourages donors to support an existing scholarship endowment – or create your own endowment legacy at l2mYDF.
Scholarship and Intern Support
Donors may contribute to a l2mYDF Scholarship Fund or Special Designation which provides current-season support to l2mYDF youth sailing camps, clinics and programs based on financial need. l2mYDF also encourages donations to endowed funds, which pay out a percentage each year to guarantee scholarship funding in perpetuity.
You can ensure income during your lifetime, as well as a charitable deduction, through a charitable lead trust, charitable gift annuity, charitable remainder annuity trust, or deferred gift annuity. Other assets, including retirement accounts, life insurance policies or real estate, can create a lasting legacy at l2mYDF while minimizing the tax burden for you or your estate. Major Planned Gift donors are recognized in the l2mYDF Endeavor Society. If you think one of these strategies might benefit you and the l2mYDF, please contact l2mYDF for more information.
Boat or Marine Equipment Donations
Donate your boat or marine equipment tax exempt to help support l2mYDF acquisition, restoration, preservation and development programs that help train the next generation of inspired America’s Cup sailors.
Bequests—Including l2mYDF in Your Will
A bequest provision in your will or revocable trust will ensure that the l2mYDF programs you are passionate about today will continue for future generations. Bequests may include cash, property, or a residual share of your estate. Major supporters who have included l2mYDF in their estate plans are recognized in the l2mYDF Endeavor Society.