The Foundation was formed in 2003 for the purpose of preserving, protecting and advancing the traditions of recreational sailing in and around the Borough of Island Heights, on the Toms River and Barnegat Bay, all of which are located within Ocean County, New Jersey. The Foundation’s primary aim is to facilitate the education of children and promote the advancement of sailing, sportsmanship and on-water safety through the support of youth programs in the Barnegat Bay area. For example, the Foundation will seek to provide direct support to families of children seeking to participate in educational sailing programs and clinics. The Foundation will also provide targeted support to non-profit institutions that conduct educational sailing programs where such aid is shown to be necessary to improve the effectiveness of those programs.
The Foundation will also seek to preserve historic structures, buildings and sailing vessels, in the above area. Specific examples of supported activities include the restoration of exterior or interior facades, ramps, plumbing, or ventilation equipment to facilitate access to such buildings in compliance with the Americans with Disabilities Act. Historic facilities and sailing vessels applying for grants are eligible only if they are recognized on the New Jersey and National Registers of Historic Places and perform an important educational function involving children, sailing instruction and sportsmanship. The Foundation is organized exclusively for charitable and educational purposes within the meaning of section 501(c)3 of the Internal Revenue Code of 1986, as enacted and subsequently amended, including the making of distributions to organizations that also qualify as section 501(c)3 tax-exempt organizations. All funds, whether income or principal, and whether acquired by gift, bequest, contributions or otherwise, will be devoted for those purposes.