Stu Posted January 17, 2019 Share Posted January 17, 2019 (edited) 15 minutes ago, skevinp said: It's normal for non-businesses to have debts secured by assets, too. How many people have car loans? Should they all be considered irresponsible? Using your car loan analogy: If a businees promises to take care of youth out on the road, and takes out a car loan to purcase a vehicle to transport the youth, and they are relying on those youth to pay dues as 'the primary way to pay off the loan', then yep they are being extremely irresponsible. Edited January 17, 2019 by Stu 1 Quote Link to comment Share on other sites More sharing options...
GUARDLING Posted January 17, 2019 Share Posted January 17, 2019 6 minutes ago, Terri Schehr said: seems she's DIGGING in on everything drum corps Quote Link to comment Share on other sites More sharing options...
Bluzes Posted January 17, 2019 Share Posted January 17, 2019 (edited) 8 minutes ago, Terri Schehr said: Great Tricia nicely asks for an interview and she gets a cowardly statement thrown in her face. New boss just like the old boss see what full disclosure, transparency really means. Is this an example of dci's strict rules on how all this really works when it comes to them? Edited January 17, 2019 by Bluzes Quote Link to comment Share on other sites More sharing options...
Old Corps Guy Posted January 17, 2019 Share Posted January 17, 2019 6 minutes ago, Terri Schehr said: Not surprised. Expected it to be more legally vetted statements in CYA mode. Unfortunate that it takes the press to get DCi to move their.................................. Quote Link to comment Share on other sites More sharing options...
Spatzzz Posted January 17, 2019 Share Posted January 17, 2019 12 minutes ago, skevinp said: It's normal for non-businesses to have debts secured by assets, too. How many people have car loans? Should they all be considered irresponsible? Sure, but if the inflow of dollars is primarily from one source (member dues) and that one source can only cover the servicing of debt where does that leave them for their other operating expenses? We just don't know that at this time. They could have been in rock solid financial shape or they could have been living "pay-check to pay-check" so to speak. No one knows. Quote Link to comment Share on other sites More sharing options...
Spatzzz Posted January 17, 2019 Share Posted January 17, 2019 1 minute ago, Bluzes said: Great Tricia nicely asks for an interview and she gets a cowardly statement thrown in her face. New boss just like the old boss see what full disclosure, transparency really means. Where are dci strict rules on all this really works when it comes to them. How is that statement cowardly? It addresses the request and provides an answer to her direct question. They replied to her quickly and directly. I mean I hate to be put in a position to defend their actions but you are being ridiculous in your expectations. Quote Link to comment Share on other sites More sharing options...
mjoakes Posted January 17, 2019 Share Posted January 17, 2019 Arsenal Performing Arts shows revenue of about $60,000 and assets of about $54,000. That's as of Sep 30, 2017 and from their 990. A more recent 990 isn't due until Feb 15, 2019. A year ago, they had a loan of about $22,000 for for mostly brass instruments. The loan is for Arsenal, it says, not mentioning any person also attached. Other instruments were donated and valued at $20,000. No one was pulling down any kind of salary. Slightly sadly, from my perspective, the board consisted (again, as of Sep 2017) of four people, one of whom is the executive director. Probably necessary to have that one guy intimately involved at this point. I just prefer a little more formal governance structure separating the ED from the board (at least for voting purposes) even in early stages. This is subjective, but the commentary and explanations in the 990 were a little unusual and showed, I think, the passion and ambition Lotz has for what he was trying to do. He also is listed as having completed and filed the 990 tax form. 1 Quote Link to comment Share on other sites More sharing options...
skevinp Posted January 17, 2019 Share Posted January 17, 2019 11 minutes ago, Stu said: Using your car loan analogy: If a businees promises to take care of youth out on the road, and takes out a car loan to purcase a vehicle to transport the youth, and they are relying on those youth to pay dues as 'the primary way to pay off the loan', then yep they are being extremely irresponsible. If the business does not continue, the value of the car itself is the primary way to pay off the loan. That's why it is called an asset. You don't need the dues anymore because you don't need the car anymore. That's how it works for everyone. 2 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 17, 2019 Share Posted January 17, 2019 20 hours ago, ouooga said: It looks like Tricia is on the case! I don't do Twitter (evil government plot to pollute our Precious Bodily Fluids. But that's not important right now.) - but I understand our Intrepid Reporter for a Major Metropolitan Newspaper reads DCP, so I would like to thank her here for all of her efforts 2 Quote Link to comment Share on other sites More sharing options...
mjoakes Posted January 17, 2019 Share Posted January 17, 2019 9 minutes ago, Spatzzz said: Sure, but if the inflow of dollars is primarily from one source (member dues) and that one source can only cover the servicing of debt where does that leave them for their other operating expenses? We just don't know that at this time. They could have been in rock solid financial shape or they could have been living "pay-check to pay-check" so to speak. No one knows. You're right, @Spatzzz. Membership fees through 2017 activities were $26,260. All other things - a mix of contributions, gifts, etc. - were $30,584. Some of that could be from Lutz. He may also have used personal funds to just pay various things that didn't make it on their books. Quote Link to comment Share on other sites More sharing options...
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