Re: Ship Finance -Reply
Roger Crossland (email@example.com)
Mon, 18 Aug 1997 10:41:46 -0400
Thanks for your comments. Someone out there thought I was asking questions. (I don't remember there being any question marks in the piece.) I was giving an overview (a potential menu) , and inviting comments and sea stories. Each of the methods noted is being used successfully by at least one Ship in the NE Region. None of the possibilities work for everyone and I suspect there are other tactics employed out there by others.
The 501 � 3 has to be set up as an independent entity, not as Sea Explorer Ship X, B.S.A. It can be "Supporters of Sea Explorer Ship X" or "The Beneficial Society for the Propagation of Youth Character Building at Sea" or something of that nature. The purpose is normally educational. Legal liability, monitoring it, making the periodic filings, and observing the financial proprieties over a long period of time, are what make it awkward for small Ships with small or non-existent committees with poor continuity. Bear in mind that the overwhelming number of Scouting sponsors are 501 � 3's.
Thanks again for the quick response.