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DCI receives $4,700,000 grant


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8 hours ago, JimF-LowBari said:

To be fair I would like to see the breakdown and reasoning behind where the $$$ figure came from before I agree or blast any further.
I know this money was spent/wasted in too many ways. But seeing waste in some areas doesn’t excuse it elsewhere. Just too many years of getting it up the you know what at work due to waste that kills the budget in areas where the $$$ was needed. 

From your history JimF,  I know you aren't one to post your opinion without prior experience - something that I respect.  You have much more than I can imagine.  Your point of view is appreciated.

In the grand scheme of things, I think this is peanuts.

If DCI fails, then some of the what motivates the youth of today dies and has to be rebuilt.  So many would not care, but we care.  We want this to survive.  To survive means having an organization to help it survive.

DCI is what we have to do that right now. 

 

 

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2 hours ago, cixelsyd said:

That raises another question.

As we are so often reminded, "DCI is the corps".  More specifically, most of the $10,000,000 that would flow through DCI annually goes back to the corps.  I imagine both DCI and their corps are applying for small business assistance, and describing their "loss of revenue"... which is often the same revenue.  How do they avoid double-dipping?

That’s a good question but I’m not sure it’s any different than a supplier/customer relationship.  If company A claims a loss of revenue and company B, who derives a substantial portion of their business revenue as a supplier to company A also claims a loss of revenue, is that double dipping?  As best I know (which certainly could be wrong), the way DCI revenue funnels to corps is by payment of a performance fee to the corps for DCI sponsored shows.  This would, I think, be the equivalent scenario I described above.

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28 minutes ago, DrummerParent said:

I’m certainly not well informed into DCI’s operations, but how do we know that the $4.7 million isn’t enough to get them “into the black.”?

If you read DCI's announcement that was posted at the beginning of this thread,they say things like "assisting" with revenue loss from the cancellation of the 2020 season and restoring their "line of credit".

They also talk about restoring some staff.

If this grant resulted in letting  them retire their outstanding debt,I would think they would say it.

Given the type of  grant,and having tried to get a PPP loan for my business,I would think the

grant would have to be specific to losses due directly to covid.

I would also think DCI will have to provide very specific information on how its spent.

 

 

 

 

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21 minutes ago, rpbobcat said:

If you read DCI's announcement that was posted at the beginning of this thread,they say things like "assisting" with revenue loss from the cancellation of the 2020 season and restoring their "line of credit".

They also talk about restoring some staff.

If this grant resulted in letting  them retire their outstanding debt,I would think they would say it.

Given the type of  grant,and having tried to get a PPP loan for my business,I would think the

grant would have to be specific to losses due directly to covid.

I would also think DCI will have to provide very specific information on how its spent.

 

 

 

 

I did read it.  Revenue is more or less equivalent to sales.  Gross income would be sales minus  cost of goods sold.  Net income would be gross income minus operating and other expenses.   So you don’t have to replace all revenue to replace lost income as surely many expenses were trimmed, especially cost of goods sold.  The article states “repay our line of credit.”  Whether that means entirely or not is in no way addressed in this article.

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31 minutes ago, Continental said:

From your history JimF,  I know you aren't one to post your opinion without prior experience - something that I respect.  You have much more than I can imagine.  Your point of view is appreciated.

In the grand scheme of things, I think this is peanuts

 

 

We’re cool, just agree to disagree. How much we disagree depends on how DCI plans to use the money….

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13 hours ago, JimF-LowBari said:

I usually think of food, shelter and job training…. 

this can help DCI pay staff that had no job the last year.

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5 hours ago, DrummerParent said:

I’m certainly not well informed into DCI’s operations, but how do we know that the $4.7 million isn’t enough to get them “into the black.”?

they mention paying down the line of credit, and begin to restaff. so not only do they have 2020 bills to pay...and maybe a few leftover from 19, but they have 2021 bills to be prepared for since at this stage, attendance revenue for 2021 is not predictable. and if wise, maybe some gets banked just in case

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4 hours ago, Jeff Ream said:

this can help DCI pay staff that had no job the last year.

Tony Dicarlo gets his "entertainment" budget reinstated. Dinners on DCI Again!

 

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