Terri Schehr Posted February 18, 2022 Share Posted February 18, 2022 13 hours ago, FTNK said: Man, the director of long-dead Capital Regiment (last fielded 2009) paid himself $50k a year from the zombie nonprofit’s bingo game (as of 2018 at least) I heard about this a couple of days ago. Quote Link to comment Share on other sites More sharing options...
Poppycock Posted February 18, 2022 Share Posted February 18, 2022 12 hours ago, rjohn76 said: Here's what's available via the 990 for Capital Regiment 2019-2020: Key Employees and Officers Compensation Richard D Bays (Executive Director) $40,375 Lora Gabaree (Secretary) $31,500 As you mentioned, they're still running a bingo program that generates over $1M in gross revenue per year. Much of that goes right back into the the cash prizes, facility costs and other expenses. Net income was only $69,391. That said, it's still a pretty substantial operation for an organization that has no apparent intentions of returning to the field anytime soon (despite the 990 indicating that they field a corps). Another example of shady characters aka pageantry leeches, which is relatively common these days in the activity! 4 1 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted February 18, 2022 Share Posted February 18, 2022 6 hours ago, NewToPosting said: It's baffling to me. Why use a NON-profit to drive a profit/compensation for yourself? Why not just create an ACTUAL business, driving ACTUAL profits? I get the whole tax situation with non-profits, but it seems like the juice wouldn't be worth the squeeze, especially if you could the exact same things as a for-profit business. You'd probably be able to bring in even more funds, without the limits placed on non-profits? We live in a capitalist-leaning society. We support finding a way to make a lot of money - just not through non-profits, which exist to serve a purpose (other than making the owners money). Why do that? two words answer your question: tax breaks Quote Link to comment Share on other sites More sharing options...
keystone3ply Posted February 18, 2022 Share Posted February 18, 2022 2 hours ago, KVG_DC said: Without the drums apparently. Quote Link to comment Share on other sites More sharing options...
keystone3ply Posted February 18, 2022 Share Posted February 18, 2022 20 minutes ago, Jeff Ream said: two words answer your question: tax breaks And they get to gamble & drink for free; partay... Quote Link to comment Share on other sites More sharing options...
Jurassic Lancer Posted February 18, 2022 Share Posted February 18, 2022 2 hours ago, Poppycock said: Another example of shady characters aka pageantry leeches, which is relatively common these days in the activity! I’m not sure. I think we need a lower term. How about pageantry scum? 3 1 Quote Link to comment Share on other sites More sharing options...
Brian Tuma Posted February 19, 2022 Share Posted February 19, 2022 15 minutes ago, Jurassic Lancer said: I’m not sure. I think we need a lower term. How about pageantry scum? Pageantry Parasite? (Even though a leach is a parasite I like the alliterative quality) 2 1 Quote Link to comment Share on other sites More sharing options...
cixelsyd Posted February 19, 2022 Share Posted February 19, 2022 (edited) 10 hours ago, NewToPosting said: It's baffling to me. Why use a NON-profit to drive a profit/compensation for yourself? Why not just create an ACTUAL business, driving ACTUAL profits? Because then you would need something that ACTUALLY sells. Sorry to mix threads, but I imagine most people who buy 27th Lancers paraphernalia are doing that primarily to support the cause (i.e. scholarship program, bringing back the corps, or even just paying the catering bill for the corps reunion they are attending). And the cause has more apparent legitimacy if it is organized as a non-profit. Edited February 19, 2022 by cixelsyd Quote Link to comment Share on other sites More sharing options...
Terri Schehr Posted February 19, 2022 Share Posted February 19, 2022 13 hours ago, Brian Tuma said: Pageantry Parasite? (Even though a leach is a parasite I like the alliterative quality) I like that. You win the interNUT today. 🥇 5 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted February 19, 2022 Share Posted February 19, 2022 17 hours ago, keystone3ply said: And they get to gamble & drink for free; partay... dang am I in the wrong non-profit group. Still miss my dad during the business meetings when the bank balances were read. “How the #### can we have so #### much money and still be non-profit”. 1 Quote Link to comment Share on other sites More sharing options...
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