Dolphin Swimming and Boating Foundation
Board Annual Report for 2024
Anthony W. DuComb, President
Introduction:
While not as eventful as in previous years, 2024 was another successful year for the Dolphin Swimming and Boating Foundation (DSBF or Foundation). After completing a multi-year, $2.75 million fundraising campaign in 2023 to support the renovation of the Dolphin Club House, the Foundation continued to raise substantial funds while supporting swim programs at the SF YMCA and Boys and Girls Club, educational initiatives at the Spaulding Marine Center in Sausalito, and maintaining the capital facilities of the Dolphin establishment.
Financial Highlights:
Banking and Investments:
With First Republic Bank's demise in 2023, Regina Russ, the Treasurer, was able to complete the transfer of all the Foundation's cash and investments to J. P. Morgan Chase without changing the investment strategy to maximize interest while maintaining adequate cash to meet the needs of the Foundation beneficiaries.
Fundraising:
- Laura Zovickian leads the Dolphin Youth Swim Fund Committee, which has been vital to the Dolphin Club’s support for youth swimming programs since 1993. Through active fundraising activities and a matching grant of $5,000.00 from the Ross Brown Estate, the Committee raised over $37,000.00. We thank Laura here.
- The DSBF limited its 2024 fundraising efforts for the renovation because the Club had not yet received its final permits and construction cost estimates. Nevertheless, an anonymous stock donation of $1.1 million was redeemed in 2024, along with numerous other individual contributions ranging from a few dollars to $10,000.00.
- The Foundation received approximately 275 individual donations, unrestricted and restricted to various programs in 2024.
*Financial Highlights:
Beginning Balance 01/01/24 $2,321,000.00
Income $1,868,000.00
Breakdown
Gifts $1,785,000.00
Interest $ 83,000.00
Grants $ 386,500.00
Expenses $ 9,000.00
Ending Balance 12/31/2024 $3,852,000.00
2024 Grants:
The Foundation fulfilled its three-pronged mandate with numerous grants:
Dolphin Club Maintenance and Renovation $350,000.00
Dolphin Club Boat Night $ 25,000.00
Spaulding Marine Center $ 6,500.00
Youth Swim Fund (SF YMCA and
Boys and Club $15,000.00 each) $ 30,000.00
Total Grants $386,500.00
Future Plans:
In 2025, the Foundation anticipates:
- Providing substantial funding for the long-awaited renovation of the Dolphin Clubhouse.
- Initiating another fundraising program should the estimates for the renovation exceed the financial resources of the Club and the Foundation.
- Expanding the financial depth and reach of the Youth Swim Program.
- Expanding the reach of the educational program beyond Spaulding to other youth boatbuilding and rowing programs.
- Recruiting new and talented members to the Foundation Board as longer-serving members rotate off the Board.
The Board of Directors:
The 2024 Board consisted of
- Anthony DuComb, President
- Gina Rus, Treasurer
- Crissa Williams, Secretary
- Joni Beemsterboer
- Tom Dugan
- Tim McElligott (Dolphin Club Treasurer)
- Diane Walton (Dolphin Club President)
- In 2025, John Hornor succeeded Ms. Walton as the new President of the Dolphin Club. We concluded our December 2024 Board Meeting in Diane’s honor, expressing our gratitude for her energy, contributions, and leadership throughout her tenure. We thank her and the entire 2024 Board members here. Additionally, we emphasize that the DSBR could not operate efficiently without the support of our Bookkeeper, Bernice Dea Szeto. We are grateful to her.
Conclusion:
The Foundation enters 2025 in good financial standing, with an experienced leadership team fully capable of addressing the needs of its beneficiaries and the unforeseen economic challenges the year may present.
Submitted:
Anthony W. DuComb
President, DSBF
February 9, 2025