THE CORPORATION IS TO BE ORGANIZED AND OPERATED EXCLUSIVELY FOR YACHTING AND RECREATIONAL PURPOSES AND SUCH OTHER SOCIAL AND EDUCATIONAL PURPOSES AS ARE REASONABLY INCIDENTAL THERETO, AND OTHER NON-PROFITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(7) OF THE UNITED STATES INTERNAL REVENUE CODE OF 1954, AS THE SAME MAY BE FROM TIME TO TIME AMENDED. NO PART OF ANY NET EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF ANY MEMBER. THE PURPOSES OF THE CORPORATION SHALL BE TO ENCOURAGE AND EDUCATE PERSONS IN YACHTING AND BOATING OF ALL KINDS AND ANY RECREATIONAL OR SOCIAL ACTIVITIES INCIDENTAL THERETO.