Dallas Corinthian Educational Foundation
What is DCEF?
Dallas Corinthian Educational Foundation (known as DCEF) was started in the early 1980s as a non-profit organization with the goal to provide sailing instruction and training, as well as water safety and other matters relating to boating activities. Today it remains an active and viable 501(c)(3) tax-exempt organization.
DCEF is not a subsidiary of DCYC. It is a stand-alone non-profit organization. However, DCEF provides the boats for DCYC to carry out its educational program using the facilities of DCYC and to provide certain benefits to DCYC members and others.
DCEF receives its funding by donations of boats, slips and money, which may be tax deductible. All boats and slips must remain in DCEF’s name for one year after receiving for tax purposes. Once that year has expired, DCEF determines whether the boat should be kept for educational use, or whether it should be sold so that the funds can be converted for educational use. DCEF’s main purpose of funding is to provide resources for sailing education for the public, which includes DCYC members.
The adult and junior sailing classes that are held each year are done in conjunction with DCEF and its objectives. DCEF also provides the Optis, Bics, 420s, and Flying Scot sailboats, all of which were either donated to DCEF or purchased by DCEF, for use in the educational program. These boats are pivotal to the educational program at DCYC and we could not hold these sailing classes without the generosity of DCEF and the people who donate.
DCEF is also the sponsor of the UNT Sailing Team under the umbrella of University of North Texas. While DCYC also sponsors the UNT Sailing Team as its host club, the boats that they use to practice on and compete in collegiate events were acquired under DCEF. There is currently a fleet of 420s that are equipped to race.
All DCEF boats are earmarked for education in certain areas such as junior (Optis) and collegiate sailing (420s); however, these boats are available for members to use once they have been approved by DCYC’s Education Chairperson. There are certain guidelines that you will be tested on such as rigging, docking, sail care and storage, on-the-water handling, and boat storage. The boats are limited to those who have completed the check-out process so that we can maintain the boats for longer use in the future. Information will be made available on DCYC’s website on how to checkout any of these boats.
Currently we have received donations through various fundraising events. Because of the increase in participation in the junior program and UNT sailing program, and in order to keep our current boats in working order, as well as obtaining additional boats as needed for the junior and adult programs, DCYC will be holding several fundraising events throughout the year. Keep an eye on email blasts for opportunities to participate in a fundraising event!
DCEF has a board comprised of individuals that are part of DCYC, but not currently serving on the DCYC board. These board members determine whether distribution of funds fall within the guidelines of their non-profit status. In addition, certain funds are earmarked to a certain activity, such as the UNT Sailing Fund, Junior Educational Fund or Adult Sailing Fund, and a representative from DCYC is assigned to each of these funds to head up both fundraising efforts and to preliminarily approve distributions.
We hope that this has answered any questions you have regarding DCEF. If you have any further questions, please contact Carolyn or Darrel Janssen (214-558-3211, firstname.lastname@example.org).
Carolyn Patterson Janssen, DCEF President
Darrel Janssen, DCEF Treasurer/Secretary
Cash donations are straightforward. Donors can designate a specific program for support or just to add to the general fund.
Contact Darrel Janssen 214.552.3211, email@example.com
Due to changes in Internal Revenue Service regulations and Texas Park and Wildlife requirements, donations of physical property must meet specific requirements. The old days of disposing of boats, sails, or other property will be very restricted from here on out.
For donation of property, like used sails, they must be of use to either the junior program, the UNT Collegiate Sailing program or a specified team program. Random donation of property will not be accepted. DCEF will have a donation form for completion that must be signed and dated. The donor will receive confirmation of the donation. Assignment of value is the responsibility of the donor. The DCEF is prohibited from assigning value.
Donation of boats has been a mainstay of raising funds for our programs. However, IRS regulations have impacted the nature of the program and what we can accept. The boat must have a direct use for the junior or adult program (i.e. Opti's, Lasers, 420′s, Flying Scot's, etc.). Other boats must have a market value. Additionally, the boat must be “sellable.” The Foundation can no longer accept boats that have limited market value. The acceptance of donated boats is at the discretion of the Board of the DCEF.
For the future, the following documents will be required for the donation of boats:
DCEF cannot transfer a title from a donor to another buyer. At the time of transfer of title, DCEF does not pay tax since the boat was a gift. Upon sale from DCEF, the buyer will pay Texas Parks and Wildlife the tax on the amount the boat was purchased from DCEF. The new owner must pay that tax, change the title, and register the boat within 20 days from purchase, or face TPW fines and penalties.
The Dallas Corinthian Education Foundation appreciates the generosity of the membership and continued support. If you can help us meet the regulatory requirements for future donations, your efforts will be recognized.