When you open your bank account... Somebodies name and SS went along to open the account. Now, The IRS gets to take their cut when that person files taxes,

More importantly... if [censored] hits the fan... That bank account is the start on the unlucky persons personal assets.

Incorporate!!!... Usually the cost is nominal (35 for us 15 years ago). The risk is measurable with a sailboat club.

You can use the regatta and beach liability insurance program after you join US Sailing. (100 bucks)

Depending on how big a program... the cost will be 400 or so and up.