Dues and Fees

Regular Membership – $650.00 Annual Dues, One time $300.00 Initiation Fee

Regular Membership shall be available to any person over 18 years of age. Member shall be defined as the named member, their spouse and children under the age of 24, and shall include one vote. The privileges of membership shall include all club privileges for the named member, their spouse and children less than 24 years of age. If you own a boat, you must become a Regular member.

People who don’t own boats are encouraged to become Regular members and so have the privileges of voting to determine the direction of the club.

Associate Membership – $410.00 Annual Dues, One time $150.00 Initiation Fee (NOT AVAILABLE AT THIS TIME – 2/17/17)

Associate Membership shall be available to people who do not own boats over 18 years of age. The privileges of membership shall be the same as available to a Regular Member, except that an Associate Member may not hold office in the organization and have extremely limited voting rights (one vote to represent all the Associate members).

Youth Membership – $50.00 Annual Dues, No initiation Fee

Youth Membership shall be available to individuals 16 years of age and under 24 years of age who are not children of members and are regular full-time students.

The privileges of membership shall be the same as those of a Regular Member, except that a Youth Member shall have no individual vote nor hold office in the organization.

For purposes of voting, Youth Members shall be a part of the Associate Member group. Youth Members may not accrue seniority towards Life Membership status.

Youth Members shall reapply for membership annually and provide proof of regular full-time student status.

Capital Improvement Fund (CIF) – $10.00 per month

In addition to the membership dues, all membership classifications (excluding Youth members) will be billed monthly for the MYC Capital Improvement Fund.  Current CIF Funding is set at $10 per month.

 

Rules for Dues Payment for MYC

Membership Class Dues Initation
Regular $650 $300
Associate $410 $150
Youth $50 $0

Youth Memberships must be paid in Full March 15 of each year for continuous membership. An applicant for Youth Membership shall not pay an initiation fee.

 Membership application shall be accompanied by Initiation fees and either 1-year of dues or, if quarterly payments are selected, all quarters up to and including the present quarter.

 An Associate member upgrading to a Regular Member shall pay 50% of the current Regular member Initiation Fees.

 Annual Full Dues are due on or before March 15. Dues not received by March 15 will be considered a resignation (See reinstatement note below)

 New applications for first-time membership only received on or after July 1 of any calendar year shall be accompanied by a payment based on a monthly prorated basis plus the full initiation fee.  The prorated amount will be equal to 1/12 of full applicable (regular or associate) membership dues multiplied by the number of remaining months at the time of the application, including the month of application.

Prorated Initiation Fees/Dues Schedule:

Regular Jan – Jun Jul Aug Sep Oct Nov Dec

Dues 650 325.00 270.83 216.67 162.50 108.33 54.17
Init 300 300 300 300 300 300 300

Total 930 625 570.83 516.67 462.50 408.33 354.17
Associate Jan – Jun Jul Aug Sep Oct Nov Dec

Dues 410 205 170.83 136.67 102.50 68.33 34.17
Init 150 150 150 150 150 150 150

Total 560 355 320.83 286.67 252.50 218.33 184.17

Quarterly Dues Option:

  • Members who wish to pay quarterly will be charged on the 15th of the month preceding the quarter for ¼ of the total annual dues for their classification.  Members requesting quarterly payments are required to use automatic Credit Card or Debit Card payment and each bill will include a $15.00 fee.  Charge / Debit Dates are: December 15, March 15, June 15, and September 15.
  •  Nonpayment of quarterly dues within 1-month of due date will be considered a resignation (See reinstatement note below)
  •  Reinstatement Note:  Resigned Members can be reinstated by full payment of outstanding dues up to December 31 of the same year with a 20% penalty.
  •  Note: any membership not up-to-date by March 15 may not be listed in the handbook for the current year.

Example Payments:

Annual Payment before March 1:
Regular Member $650
Associate Member $410
Quarterly Payments per above schedule:
Regular Member $177.50 (includes $15 Fee)
Associate Member $117.50 (includes $15 Fee)
Example of member joining on June 1 and paying quarterly (initiation + 2 quarters)
Initation Fee 1st Payment Remaining quarters
Regular Member $300 $355 $177.50
Associate Member $150 $235 $117.50