Scoring for Hudson River Yacht Racing Association (HRYRA) regattas is calculated using the Performance Handicap Racing Fleet (PHRF) Time on Distance (ToD) formula.
To compete in HRYRA regattas, hosted by member clubs, you must be a HRYRA member and hold a valid PHRF Certificate from HRYRA or Yacht Racing Association of Long Island Sound (YRALIS). PHRF Certificates are valid only in the calender year they are issued. You must get a new PHRF certificate each year even if nothing on your boat has changed.
From US Sailing:
"PHRF is a locally administered handicapping system that uses the perceived speed potential of a yacht as the basis for the handicap. An initial handicap is assigned based on comparisons with similar yachts. The handicap may then be adjusted based on the performance of the class of the yacht."
Visit the US Saling website for more information on PHRF.