2024 505 North American – Annual General Meeting (AGM)
Saturday, May 24th @ 10:00 AM
Officers and Attendees:
President – Reeve Dunne
President Elect – Tim Murphy
Vice President – Blaine Pedlow
Treasurer – Miles Johannessen
National Measurer – Eric Anderson
Information Officer – Adam Wolnikowski
Secretary – Chris Pittack
There were 35 participants that attended.
Reeve Dunne (Class President) opened the meeting with a brief summary of the year.
- The class continues to show strength as it continues recover from CoVid
- Commented on the “smallish” NA’s with no representation from the East Coast
- Under representation of East Coast was due trailer issues
- Not enough interest to fill a full truck (53 ft)
- No 4 to 6 boat trailer available
Blaine Pedlow (Class Vice-President) provided an update on class marketing.
- Commented on marketing of the current (2024 NA’s)
- Goal of NA’s marketing was to:
- Highlight global nature of the 5o5 fleet
- Focus on the friendships that permeate the fleet
- Tell stories – for example father and sons, huge number to women helms
- Real time updates to social media during the event
- Marketing expense of the NA’s coverage was approved by the executive committee
- Highlighted Lexi’s depth of knowledge and connections within the sailing community to increase distribution of content
- Commented on difficulty of acquiring content for national web-site (“big issue”)
- Mentioned need to coordinate with global class to increase distribution and continuity
- Opined that class needs to show potential sponsors its marketing capabilities first
- Mentioned the need to increase the number of benefactors and not limited annual donations
- Finally and perhaps most importantly the US 5o5 Fleet is now a 501.C3 organization registered in the state of Washington.
Miles Johannessen (Treasurer) provided an update on the class’ financial standing.
- The class’ financial standing at the end of 2023 was $30,400
- Increased expenses due to media spend at ECC’s and PCC’s
- Cost savings due to lower than expect spend on East Coast NA’s container
- Allocated $1000 for clinics per coast
- Revenue rebounded from the prior years as sailors returned to their 5o5’s (is this still true?)
- Class revenue continues to be 100% generated by member dues and donations
- Class collected some $6,000 in dues in 2023, down from $8,400 in 2022 and under a recent high of $8,600 in 2019
- Class membership stands @ 90 members in good standing
- Reminder to class to please pay dues even though you are not attending a national events
- Proposed Budget 2024:
- Beginning Cash Balance: $ 30,400
- Dues/Donations: $ 6,500
- Expenses: $ 10,000
- Ending Cash Balance: $ 26,900
- PDF with details on 2023 Actuals and 2024 Budget will be sent to executive committee
Eric Anderson (Measurer-elect)
- No report provided
Adam Wolnikowski (Information Officer)
- Information officer role was split into content and webmaster roles at 2023 AGM
- Individuals that volunteered for content creation role have left the class
- Adam is able to support the webmaster role, but not content creation
- With Lexi creating content, Adam can assist in distributing
- Aiming to increase reach of regatta reports and put in place system for submitting reports and circulating them to publications
- Adding more donation options
General Group Discussion:
- Fleet Building:
- Support growing fleets like Bellingham – double down on growing existing fleets
- Allow growing fleets to grow organically, don’t push too hard
- Provide growing fleets with sails and parts
- Volunteer to help a growing fleet – Holtie clinics in Bellingham
- Make a weekend regatta 2.5 days with the first 0.5 day a training session
- Transfer knowledge / help with training
- Make friends with the growing fleet members – class is about friendships
- Sail with others / swap out drivers and crew / leave dock “swapped”
- Take a youngster out in a 5o5
- Travel is expensive – offer up the top bunk of your double trailer
- Fleet Trailers:
- Big “Howie” trailers are too unwieldy, expensive and store
- Each coast needs a 4 boat trailer
- Possible cost $6K for trailer, $2K for modifications
- PVG has his trailer for sale in the PNW
- Class to start discussion on purchasing and/or subsidizing coastal trailers
Regatta Schedule:
- 2024 Worlds – Varberg SWE August 1 thru 10
- 2025 Worlds – Adelaide AUS December 30, 2024 thu January 7, 2025
- 2026 Worlds – Hayling Island UK
- 2027 Worlds – Long Beach CA (?)
- Olympic Test Event – training and practice for Olympic organizers
- Olympic organizers would run 5o5 worlds as practice for Olympics in 2028
- 2025 North Americans – Kinston ONT August 20 thru August 25
- 2026 North Americans (?) – options
- Corpus Christie, TX
- Long Beach, CA
- Bellingham, WA
- Harbor Springs, MI
End of Meeting