cixelsyd Posted February 11, 2020 Share Posted February 11, 2020 11 hours ago, George Dixon said: Well - M&G campaign is one of the most successful giving campaigns in DCI They run several large shows They run a major wine & food event - been growing for several years (last years a record I heard) performance fees + member dues corporate sponsors more in the works I would hope! You forgot appearance fees from DCI participation, and revenue sharing from being a DCI member corps. 1 Quote Link to comment Share on other sites More sharing options...
George Dixon Posted February 11, 2020 Author Share Posted February 11, 2020 Cadexit 2 3 3 Quote Link to comment Share on other sites More sharing options...
cybersnyder Posted February 11, 2020 Share Posted February 11, 2020 My prediction, which i can say now because it wrong and I won’t be starting a rumor, was that they would administratively merge with The Crossmen and share administrative overhead. 1 Quote Link to comment Share on other sites More sharing options...
MikeD Posted February 11, 2020 Share Posted February 11, 2020 7 hours ago, TwoValves said: Because it IS currently a non-profit, and because it is not legally "owned" by anyone, it can therefore not be sold to anyone who chooses to use it to make a profit. It can only be dissolved, and it's assets sold to pay debt, with any remaining assets donated to another non-profit. A for-profit corporation cannot own a non-profit as you correctly stated, but it can run and manage a non-profit corporation. It can appoint all or some of the non-profit board, and it can manage financials, as long as that is not mixed in with the for-profit financials. There needs to be a definite wall separating the two, but it is possible. For-profits often have non-profit charitable foundations, for example. 2 Quote Link to comment Share on other sites More sharing options...
Fran Haring Posted February 11, 2020 Share Posted February 11, 2020 11 hours ago, George Dixon said: I hope somewhere else. JMO ***Cough cough***Annapolis***cough cough*** 2 Quote Link to comment Share on other sites More sharing options...
rpbobcat Posted February 11, 2020 Share Posted February 11, 2020 I'm looking forward to seeing specifics as to what exactly "a well - defined on going business relationship" means. 2 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted February 11, 2020 Share Posted February 11, 2020 11 hours ago, 2000Cadet said: Headquarters to be based in Iceland. Well lot of daylight for night practices. Was there Memorial Day weekend one year and at midnight just turning to dusk. Bugger was walking up and thinking you overslept because the sun was up. Then you realize it’s 4:30am. 😳 1 1 Quote Link to comment Share on other sites More sharing options...
exitmusic Posted February 11, 2020 Share Posted February 11, 2020 8 hours ago, TwoValves said: Because it IS currently a non-profit, and because it is not legally "owned" by anyone, it can therefore not be sold to anyone who chooses to use it to make a profit. It can only be dissolved, and it's assets sold to pay debt, with any remaining assets donated to another non-profit. This is just so, so, so incorrect. 501(c)(3) designation is purely optional. The company could convert to a for-profit entity relatively simply and then sell itself to the highest bidder. This isn't rocket science. What is the purpose of US Bands continuing to operate as a non-profit when the tax code has effectively gutted any incentives for individuals to donate money to charities? Why not make as much money as possible, with no restriction? Quote Link to comment Share on other sites More sharing options...
George Dixon Posted February 11, 2020 Author Share Posted February 11, 2020 1 hour ago, Fran Haring said: ***Cough cough***Annapolis***cough cough*** that's my pick! 1 Quote Link to comment Share on other sites More sharing options...
George Dixon Posted February 11, 2020 Author Share Posted February 11, 2020 29 minutes ago, exitmusic said: This is just so, so, so incorrect. 501(c)(3) designation is purely optional. The company could convert to a for-profit entity relatively simply and then sell itself to the highest bidder. This isn't rocket science. What is the purpose of US Bands continuing to operate as a non-profit when the tax code has effectively gutted any incentives for individuals to donate money to charities? Why not make as much money as possible, with no restriction? you just have to itemize for the deduction - and while limits are in place (30-60% of income?) it's still a top and generous incentive Yes - I believe USB will be sold and then YEA! will use that $$ to satisfy debt prior to dissolving YEA! -- or perhaps the USB income is used to satisfy debt. Either possibility exist Quote Link to comment Share on other sites More sharing options...
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