She was the victorious American defender of the seventh America's Cup match that same year against Scottish challenger Thistle.

Volunteer, a centerboard compromise sloop, was designed by Edward Burgess, built by Pusey & Jones Shipbuilding Company at Wilmington, Delaware and launched after 66 days under construction on June 30, 1887, for owner General Charles J. Paine of the New York Yacht Club.

In 1890 a major modification by George Lawley & Sons lengthened the hull by 5 ft (1.5 m), improvements made and changed to a sloop rig.

Soon after the Cup races, Volunteer was bought by John Malcolm Forbes (who also owned Puritan) and was Re-rigged as a schooner in 1891.

In 1894, in anticipation of racing with the British Valkyrie, she was returned to her original sloop rig.