YEA / Cadets Injury Lawsuit

[garfield]

12 minutes ago, mingusmonk said:

Another example of how I've been around here too long. @garfield's classic and enthralling 990 thread is no longer a part of DCP institutional memory. 

 

 

Heh, hard to believe that we're a month or so away from THAT being seven years ago.  Geesh.

 

[MikeD]

8 hours ago, JimF-LowBari said:

Was thinking same thing with Uncle Sam and his different “pots of money” each with a certain amount and marked for specific things. And second thought is USBands has its own expenses and might not have that much excess revenue. Third thought... are Cadets, YEA and USBands non profits? Might have an impact on shifting money 

I am not sure they are set up as separate corporate entities. I think they are all under the YEA corporate entity. If I recall, there was one I990 form for all of YEA,, not separate forms for the individual components.

[MikeD]

5 hours ago, Jeff Ream said:

wasn't CMBC/USSBA/USBands set up to be a fund raiser for the Cadets?

That is how it was when it was CMBC. I think the vision changed after that once it took off.

[MikeD]

1 hour ago, Slingerland said:

Each division can and should have their own budget, but US Bands is included in YEA's financials. 

They have operating budgets, but it is all under YEA from a corporate standpoint. 

[cybersnyder]

On 9/27/2019 at 4:33 PM, Jeff Ream said:

wasn't CMBC/USSBA/USBands set up to be a fund raiser for the Cadets?

From their (YEA!) 2017 990, USBands delivered about $700k of profit and Cadets operated at about $700k in the red. I would have to look at more years to see if that holds up, but given their current financial woes, I’m not sure if that’s even meaningful today. The 2018 1099 only covered three months and was the dead time of year (Jan-Mar), so it mostly show expenses with no revenue.

 

Edited September 29, 2019 by cybersnyder

[cixelsyd]

On 9/27/2019 at 6:28 PM, garfield said:

I looked.  I'm TOTALLY convinced that all revenue from all of the YEA! entities are included in the 990s for the master entity, YEA!.org.  All of the entities' various incomes, and YEA! expenses, are allocated to each entity and reported on the YEA! 990.  The percentages of total income is clear and the expenses are identified, and updated with supplemental filings.

For whatever discussion happens here, I'm operating under the presumption that each program is a separate entity, operating under separate budgets (likely) and responsible for their own P&L and considered expendable if not adding revenue to the bottom line of YEA!.

Reading that, and the mission statement of YEA!, I would have to conclude that the Cadets program offering is "expendable".

[xandandl]

1 hour ago, cixelsyd said:

Reading that, and the mission statement of YEA!, I would have to conclude that the Cadets program offering is "expendable".

cf. C2

[cixelsyd]

6 minutes ago, xandandl said:

cf. C2

Cadets2 was a bargain compared to the Cadets DCI program.  Nearly as many kids served, for not nearly as much of a financial "loss".

[cybersnyder]

2 hours ago, cixelsyd said:

Reading that, and the mission statement of YEA!, I would have to conclude that the Cadets program offering is "expendable".

On paper, I’d agree that the program is expendable. But everyone knows that YEA! is The Cadets and it gives YEA! a marque status, until recently. If they can’t repair the band competitions / participation loss, the organization will likely fold. They know this and are likely working to repair the losses. IMO, the biggest looming threat is if Hopkins wins the severance pay lawsuit. Insurance won’t cover that. 

[cixelsyd]

24 minutes ago, cybersnyder said:

On paper, I’d agree that the program is expendable. But everyone knows that YEA! is The Cadets 

Everyone but the author of their mission statement:

Quote

Our Mission is to support the development of young people into magnificent human beings through participation in the performing arts.

If they had said the mission was to make magnificent human beings by running a highly competitive DCI corps come hell or high water, then it would be clear.  Without that, they need a BOD with majority Cadet alumni (currently 4 of 7) to ensure the corps remains the priority.