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      <FootnoteTextInd>X</FootnoteTextInd>
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        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPLANATION: THE FOUNDATION HAS ANALYZED ITS TAX POSITIONS, AND HAS CONCLUDED THAT NO LIABILITY SHOULD BE RECORDED RELATED TO ANY UNCERTAIN TAX POSITIONS. THE FOUNDATION IS NOT AWARE OF ANY TAX POSITIONS WHICH IT BELIEVES WILL CHANGE MATERIALLY IN THE NEXT TWELVE MONTHS. IF THIS POSITION CHANGES, THE FOUNDATION WILL ASSESS THE IMPACT OF ANY SUCH MATTERS ON ITS FINANCIAL POSITION AND RESULTS OF OPERATIONS.</ExplanationTxt>
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        <ExplanationTxt>EXPLANATION: A THIRD PARTY ORGANIZATION ACCEPTS QUALIFIED BOATS AS DONATIONS ON BEHALF OF BOATU.S. FOUNDATION. UPON RECEIPT OF THE DONATED PROPERTY, THE ORGANIZATION PUTS THE BOAT UP FOR SALE, SELLS THE BOAT, AND REMITS CASH PAYMENTS TO BOATU.S. NET OF FEES AND COMMISSIONS.</ExplanationTxt>
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        <ExplanationTxt>EXPLANATION: THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>EXPLANATION: THE FORM 990 IS REVIEWED BY THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE TREASURER BEFORE IT IS FILED WITH THE IRS. A COPY OF THE 990 IS PROVIDED TO THE BOARD PRIOR TO FILING.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPLANATION: IF CONTRACTS ARE TO BE DISCUSSED BY THE BOARD, THE CHAIR ASKS IF ANYONE ON THE BOARD HAS A RELATIONSHIP WITH THAT ENTITY. IF THE ANSWER IS YES, THE MEMBER IS ASKED TO LEAVE THE ROOM WHILE THE CONTRACT IS DISCUSSED AND VOTED UPON.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>EXPLANATION: THE FOUNDATION'S EMPLOYEES ARE LEASED FROM THE BOAT AMERICA CORPORATION. THE HUMAN RESOURCES DIRECTOR OF BOAT AMERICA CORPORATION REVIEWS THE SALARY AND BENEFITS OF OTHER ORGANIZATIONS IN THE AREA AND GIVES THE PRESIDENT OF THE FOUNDATION GUIDELINES ON ACCEPTABLE SALARIES AND BENEFITS. THE CHAIRMAN OF THE BOARD OF TRUSTEES ALSO REVIEWS AND APPROVES COMPENSATION.</ExplanationTxt>
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        <ExplanationTxt>EXPLANATION: THE FOUNDATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND POLICIES ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
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        <TransactionTypeTxt>N</TransactionTypeTxt>
        <InvolvedAmt>19815</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>FAIR MARKET VALUE</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>BOAT AMERICA CORPORATION</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>O</TransactionTypeTxt>
        <InvolvedAmt>971806</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>FAIR MARKET VALUE</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>