The Gustav Schell Award, "The Gussie," is presented annually by the Commodore to an Officer or Past Commodore who exemplifies service to the Club and it's affiliated organizations. The trophy is named for Gus Schell who served as Commodore of BLYC in 1951 and Commodore of the Inter-Lake Yachting Association in 1975. Commodore Schell's service to both organizations continues to this day and he remains actively involved in activities with both.
| 2000 | Marque Debenport | |
| 2001 | Tim Maite | † |
| 2002 | Nick Desantis | |
| 2003 | Howard Clark | |
| 2004 | Greg Miller | |
| 2005 | Frank H. Foster, III | |
| 2006 | Fred Wright | |
| 2007 | Steve Schilling | |
| 2008 | Mark Russell | |
† = deceased