2. The Richmond Riviera Fund is a California Corporation, incorporated on May 7, 2010 and endorsed by the Secretary of State of the State of California.
3. The Richmond Riviera Fund is a 501(c)3 corporation, recognized by the IRS, and exempt from tax under 501(a). This is a little confusing, but 501(c)3 is basically a subset of those entities which are exempt under 501(a). The Richmond Riviera Fund has also been determined to be exempt from California state taxes.
4. The Richmond Riviera Fund operates on the calendar year, and files IRS Charity Tax Return Form 990 promptly, these are always available for public examination.
5. The Richmond Riviera Fund does not accumulate funds from year to year, but disburses all money raised in a calendar year to the charities chosen in that year. The Richmond Riviera Fund will start each calendar year from scratch.
6. The Richmond Riviera Fund does not spend money on ANYTHING. 100% of all donations are directed to the charities each year. All items which are used by the Richmond Riviera Fund are donated. If we can't find a donor, we do without. In the event that cash is required for a specific purpose (e.g. State fees), we find a specific donor to fund that item.
7. Charities chosen by the Richmond Riviera Fund must meet the following criteria: a) Headquartered in Richmond. b) Significant work performed in Richmond. c) Established with a strong track record. d) Small enough that our planned contributions will make a difference to their work.
8. Charities will be chosen each year, applications are always welcome at
9. The Richmond Riviera Fund is dedicated to our community and our charities. We try to get to know our charities as much as possible. Charities are encouraged to contribute our funds to a permanent endowment, rather than to use funds as operating expenses.
10. The Richmond Riviera Fund is a separate entity, with its own Board of Directors and Bylaws, but is composed strictly of members of the Richmond Yacht Club, and the Fund may be dissolved by vote of the Richmond Yacht Club Board of Directors. All assets would be immediately distributed to the current charities.