garfield Posted December 7, 2012 Author Share Posted December 7, 2012 (edited) Boston Crusaders Balance Sheet Liabilities Accounts Payable 2009: $42,943 2010: $12,021 2011: $74,434 Secured mortgages and notes payable to unrelated third parties 2009: $108,885 2010: $109,923 2011: $132,265 Payable to current and former officers, directors, trustees, key employees...* 2009: $8,000 2010: $8,000 2011: $311,699 * Note: In 2011, under "Transactions with Interested Parties", "Loans to/from Interested Persons", two persons loaned money to the corps. On person loaned $137,619 for "working capital", and another loaned $174,530 for "reimbursed travel expense". The total, $311,699, is reflected in 2011 above. This accounts for the sizable drop in Net Assets in post #577. Edited December 7, 2012 by garfield Quote Link to comment Share on other sites More sharing options...
garfield Posted December 7, 2012 Author Share Posted December 7, 2012 There are no other notations or listed circumstances listed in Boston's 990's. Here's hoping 2012 was a much better year. Similar to Bluecoats, I'd be expecially appreciative if a representative of the Boston Crusaders would comment here on their perception of the corps' 2012 numbers. This ends the look at Boston Cruaders. Comments, anyone? 1 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 7, 2012 Author Share Posted December 7, 2012 (edited) Here's something I caught... In post #586 there's a reference to $232,388 in "Other Program Service Revenue". That line item is blank in '09 and '10. The total for that category of Program Service Revenue (same post number) took an approx. $375,000 jump - a nearly 400% increase from 2010. Bottom line: That $232,388 had a significantly positive, and new, impact on the corps' total income. Because there's no explanation what-so-ever of this new increase in 2011, I'd sure like to know what they did to earn it, if they're doing it again, or if they can't, what they might be doing to replace that "other" income. But I suppose "What are you doing to make money?" is the perennial question for all corps. Edited December 7, 2012 by garfield 1 Quote Link to comment Share on other sites More sharing options...
Ghost Posted December 7, 2012 Share Posted December 7, 2012 (edited) Others may have opinions, but I'm impressed how Boston gets by on so little, especially compared to SCV's war chest. Wonder where they might be without the two generous donations. Edited December 7, 2012 by Ghost Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 7, 2012 Share Posted December 7, 2012 if I recall, didn't Boston create a pay all year option? that could be why Accounts Payable is so high Quote Link to comment Share on other sites More sharing options...
skywhopper Posted December 7, 2012 Share Posted December 7, 2012 if I recall, didn't Boston create a pay all year option? that could be why Accounts Payable is so high For the tuition? That'd be under Receivables, wouldn't it? (says the non-CPA) Quote Link to comment Share on other sites More sharing options...
craiga Posted December 7, 2012 Share Posted December 7, 2012 Others may have opinions, but I'm impressed how Boston gets by on so little, especially compared to SCV's war chest. Wonder where they might be without the two generous donations. I cannot speak intelligently on the corps' finances, but I would commend the organization for doing its level best to hold the line on the tour fee. At $2500, it remains one of the lowest in World Class, including many nonfinalist corps and not too far over many Open Class corps. I do know that the corps is currently trying to raise funds for a new (newer) equipment trailer. BAC is the third owner of the current 30+ year old trailer, which although rehabbed several times, was orginally formatted to hold 60 horns, not 80. The contras and mallett percussion instruments in particular have become quite a challenge to load/unload. For those who would like to help, I would encourage you to go to www.crusaders.com to lend a hand. Quote Link to comment Share on other sites More sharing options...
garfield Posted December 7, 2012 Author Share Posted December 7, 2012 "And now, please welcome to the field, from Denver, Colorado for over 50 years... Ascend Performing Arts!" Quote Link to comment Share on other sites More sharing options...
bill Posted December 7, 2012 Share Posted December 7, 2012 For the tuition? That'd be under Receivables, wouldn't it? (says the non-CPA) If I recall correctly, it depends on how the organization is chartered. "Tuition" is a spin word for dues. If a nonprofit is chartered in a certain way (which most drum corps are chartered in a certain way); within a nonprofit setting as such, it is suggested and encouraged that "dues" should NOT be booked (accounting wise)as an a/r. By recording dues balances as an a/r, when not remitted it creates a bad debt. A lack of payment of dues does not create a bad debt; it creates simply a member not in good standing. This, again, is within the non-profit setting and recommended accounting protocols (of such) and how the organization is chartered; not all 503's are alike, although I tend to think most (if not all) drum corps organizations are fundamentally chartered similar. 1 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 7, 2012 Author Share Posted December 7, 2012 Isn't anyone going to ask what Ascend is? Or am I the only one who didn't know? Quote Link to comment Share on other sites More sharing options...
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