WAIKIKI YACHT CLUB

THIS CLUB IS ORGANIZED AND SHALL OPERATE TO PROVIDE FOR THE PLEASURE, RECREATION AND OTHER NONPROFITABLE PURPOSES OF ITS MEMBERS, AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE. CONSISTENT WITH ITS STATUS AS A SECTION 501(C)(7) TAX EXEMPT ENTITY, THE PRIMARY PURPOSE FOR WHICH THIS CLUB IS ORGANIZED AND ITS PRIMARY MISSION IS TO PROVIDE A MEDIUM THROUGH WHICH ITS MEMBERS MAY PARTICIPATE IN THE SPORT OF YACHTING AND TO PROMOTE AND FOSTER INTEREST IN THE KNOWLEDGE OF YACHTING, BOATING, NAVIGATION, AND OTHER MARITIME ACTIVITIES, AND TO COOPERATE WITH FEDERAL, STATE, AND MUNICIPAL OFFICIALS IN THE PROTECTION OF LIFE AND PROPERTY ON THE HIGH SEAS AND WITHIN THE WATERS OF THE STATE OF HAWAII. CORINTHIANISM SHALL DOMINATE ALL ACTIVITIES OF THE CLUB. SUBJECT TO THE CLUB'S PRIMARY PURPOSE AND MISSION, THE CLUB MAY OFFER SUCH SOCIAL AND RECREATIONAL ACTIVITIES TO ITS MEMBERS AS ARE CONSISTENT WITH ITS NONPROFIT, TAX EXEMPT STATUS.