garfield Posted December 18, 2012 Author Share Posted December 18, 2012 The Glassmen Revenue, Expenses, and Net Assets The Bottom Line Total Revenue 2009: $937,279 2010: $933,389 2011: $770,750 Total Expenses 2009: $945,182 2010: $1,046,425 2011: $848,909 Net Revenue (loss) 2009: ($6,904) a loss 2010: ($113,036) a loss 2011: ($78,159) a loss Net Assets 2009: ($163,459) more liabilities than assets 2010: ($276,491) ditto 2011: ($354,648) ditto Quote Link to comment Share on other sites More sharing options...
MikeN Posted December 18, 2012 Share Posted December 18, 2012 Ouch. Mike Quote Link to comment Share on other sites More sharing options...
garfield Posted December 19, 2012 Author Share Posted December 19, 2012 The Glassmen Revenue (Note: Revenue in the 990s is broken down into three major categories: "Contributions, gifts, and grants...", "Program Service Revenue", and "Other Revenue". Each category is further broken down into multiple sub-categories. We'll look at each in turn. Contributions, gifts, and grants... Fundraising Events 2009: $149,093 2010: $146,504 2011: $107,380 All other contributions, gifts, grants, etc 2009: $25,850 2010: $0 2011: $45,000 Total contributions, gifts, grants, etc 2009: $174,943 2010: $146,504 2011: $152,380 Observation: This category does not explain fully the difficult time Glassmen have had. Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 19, 2012 Share Posted December 19, 2012 Ouch. Mike that explains this fall's plea for help Quote Link to comment Share on other sites More sharing options...
skywhopper Posted December 19, 2012 Share Posted December 19, 2012 So in my own perusal of the 990s over the years I've noticed the Glassmen spend far above other groups in their peer group. In fact, they tend to be in the top six or seven in terms of spending, and far above the other corps that duke it out for 11-15 each year. Possibly it's just a reporting difference, and the Gmen include more in their expenses than other groups, but I've always found it strange. Anyone know something about the details of their expenses that might explain the discrepancy? Quote Link to comment Share on other sites More sharing options...
garfield Posted December 19, 2012 Author Share Posted December 19, 2012 (edited) So in my own perusal of the 990s over the years I've noticed the Glassmen spend far above other groups in their peer group. In fact, they tend to be in the top six or seven in terms of spending, and far above the other corps that duke it out for 11-15 each year. Possibly it's just a reporting difference, and the Gmen include more in their expenses than other groups, but I've always found it strange. Anyone know something about the details of their expenses that might explain the discrepancy? We know that things can be reported differently by different corps, but the notion that G'men report more of their expenses doesn't sound right - and maybe that's not what you mean. Expenses are expenses and, no matter where on the 990 they appear, they show up in the bottom line. If you're talking specifically about Program Service Expenses, I'll show those here beginning a little later tonight, and we should be able to verify your hunch when we look at the rest of 13 to 17 to 22. I don't have a problem with the raw amount they spend on their show, or even how that compares with others in their peer group; if they had a bazzillion dollars in assets but were a midlin-performing corps, I'd only say too bad for them. It's when they spend so much more on PSE than their revenues can support that my eyebrow starts to go up. At this point in our step-through of the forms, though, it's not entirely clear what is causing such a drastic increase in both net loss and net liabilities. It sure doesn't look pretty, though, and we can only hope that the new leadership is taking solid action to stop the bleeding. If I were a parent I'd sure want some assurances that the corps' ways have changed before I agree to let my kid march there and, possibly, the leadership has already addressed these nasty-looking numbers with supporters and parents already. Edited December 19, 2012 by garfield Quote Link to comment Share on other sites More sharing options...
HoltonH178 Posted December 19, 2012 Share Posted December 19, 2012 Glassmen own their own rehearsal facility. As far as I know, the only other corps that does this is the Blue Devils @ Mars. I have heard it floated (somewhat often, really) that the corps "should" abandon G-West, but the facility is so deeply ingrained to the corps' identity that I believe most would view the sacrifice as being absolutely tremendous. The corps did abandon its failing bingo hall this year, which should help revenues as well. 1 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 19, 2012 Author Share Posted December 19, 2012 (edited) The Glassmen Revenue Program Service Revenue Member Fees - Tour (DC) (Note: Glassmen's accountant references "DC" and other monikers throughout their 990s. I suspect they reference programs like "Drum Corps" but I'm not positive. I'll show the abbreviations as they occur so, maybe, someone can guess or confirm their meanings.) 2009: $285,385 2010: $314,903 2011: $334,529 Appearance - DCI (DC) 2009: $114,989 2010: $120,643 2011: $121,149 Member Fees - Registration (DC) 2009: $28,040 2010: $34,480 2011: $36,195 Member Fees - Camp 2009: $41,801 2010: $33,238 2011: $34,480 All other Program Revenue 2009: $74,026 2010: $58,670 2011: $32,168 Miscellaneous 2009: Dynasty Sales - $29,306 2010: Souvie Income (DC) - $31,539 2011: Appearance - Parade/Clinic - $16,100 Total Program Service Revenue 2009: $573,547 2010: $593,293 2011: $574,621 Observation: Nothing in here hints towards the cause of G'men's financial troubles. Edited December 19, 2012 by garfield Quote Link to comment Share on other sites More sharing options...
HoltonH178 Posted December 19, 2012 Share Posted December 19, 2012 Pardon me, I'm certainly no businessperson; I should have said expenditures, or possibly income (but I'm not even sure of that), not revenues. The corps has quite high expenditures as compared to other organizations. The bingo hall in particular had lost its viability in recent years, and turned into a net operating loss for the corps (which I understand is becoming more and more common, sadly). Quote Link to comment Share on other sites More sharing options...
garfield Posted December 19, 2012 Author Share Posted December 19, 2012 The Glassmen Revenue Other Revenue Net Income from Fundraising events 2009: $43,515 2010: $117,161 2011: $24,411 Net Income from gaming activities 2009: $107,252 2010: $71,130 2011: $7,310 Total Revenue 2009: $938,278 2010: $933,389 2011: $770,750 Quote Link to comment Share on other sites More sharing options...
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