phd-student-TTU Posted January 6, 2023 Share Posted January 6, 2023 Tbh, I’ll be surprised if drum corps is around for another decade. 1 Quote Link to comment Share on other sites More sharing options...
cixelsyd Posted January 6, 2023 Share Posted January 6, 2023 7 hours ago, Jeff Ream said: actually a corps that doesn't make semis annually backed it up when a director who hadn't made finals in 15 years said it. i love how you like to speak for how i think and what i know when time and time again you fail miserably at it All that proves is that you are focusing on the top corps (plus one former finalist) and not considering how the rest of them operate. Yesterday, two people from open-class weighed in on this issue. Do you have them both on ignore? 1 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted January 7, 2023 Share Posted January 7, 2023 15 hours ago, cixelsyd said: All that proves is that you are focusing on the top corps (plus one former finalist) and not considering how the rest of them operate. Yesterday, two people from open-class weighed in on this issue. Do you have them both on ignore? not at all. but thank you for assuming my thoughts and knowledge. 1 Quote Link to comment Share on other sites More sharing options...
Popular Post rjohn76 Posted January 7, 2023 Popular Post Share Posted January 7, 2023 I don't have a horse in the race, but I do typically have too much time on my hands. Looking at the most recent 990's available from Open Class organizations that reflected a "normal" year (usually 2019), membership fees/dues accounted for an average of 69.48% of total revenue. Guardians & Southwind were on the upper end of the spectrum with membership fees accounting for about 85% of their total revenue. Spartans were on the low end with membership fees only accounting for about 44% of their total revenue. 6 5 Quote Link to comment Share on other sites More sharing options...
garfield Posted January 9, 2023 Share Posted January 9, 2023 On 12/15/2022 at 12:21 PM, mingusmonk said: A Reddit user was kind enough to compile all recent corps 990 filings into a single spreadsheet. https://docs.google.com/spreadsheets/d/1Ja39zeGtJSWFTu3rejDFLo0aSydUs-t0oioukYk8U34/edit#gid=0 Was it simply Covid loss of bingo? For 2020, SCV's Net Income $ (1,156,499) was almost 3 times the magnitude of the next net-negative organization, BDPA $ (441,627). They aren't the only corps that relies on bingo revenue. Bluecoats own and operate their own bingo hall. Their 2020 net income was positive $ 10,909. (it should be mentioned that we don't have Cavaliers or Crossmen 2020 filings available yet) These numbers are probably not completely revealing the direct effects of Covid 19 on the balance sheet because of how the bookkeeping can vary on PPP activity, etc. As I understand, it could take 2021, or even 2022 for those true numbers to wash out. Shouts out to the missed @garfield who used to run the 990 numbers and analysis for us around here. Interesting spreadsheet and kudos to the originator for compiling all that garbage. Because drum corps run hand-to-mouth every year, a "Current Ratio" number (the ability to pay 'short-term' obligations due in a year or less) is not very useful. Essentially, the current ratio is "everything". The Leverage Ratio is a relatively new measure of drum corps health as it used to be that drum corps non-profits simply didn't take on debt (Cadets were a notable exception in past years). Today, many drum corps are grappling with low-cost PPP loans that can't be forgiven because of proceeds use, and are now saddled with long-term debt in addition to paying for a current competitive season. I have no idea how much, if any, PPP that SCV got nor how much of it's servicing is reflected in their income statement. It seems that many drum corps have never heard the sage advice: "It doesn't matter how much you put in the top of the sieve, it only matters how many holes you have in the bottom of the sieve." 4 1 Quote Link to comment Share on other sites More sharing options...
drumcorpsfever Posted January 10, 2023 Share Posted January 10, 2023 (edited) 19 hours ago, garfield said: Today, many drum corps are grappling with low-cost PPP loans that can't be forgiven because of proceeds use, and are now saddled with long-term debt in addition to paying for a current competitive season. Interesting. I hadn’t considered that a drum corps would take PPP money and exceed program allowance for non-payroll usage. I’m not sure how wise that would have been (to take PPP money) for any corps already in the red. Edited January 10, 2023 by drumcorpsfever 2 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 10, 2023 Share Posted January 10, 2023 49 minutes ago, drumcorpsfever said: Interesting. I hadn’t considered that a drum corps would take PPP money and exceed program allowance for non-payroll usage. I’m not sure how wise that would have been (to take PPP money) for any corps already in the red. I would guess the PPP money, if not used for payroll, went to transportation/housing/meals? Or were there other expenses? Any Corps with a large debt load makes me nervous. SCV may only be the first to have to go inactive & find a way to service the debt Quote Link to comment Share on other sites More sharing options...
TOC Posted January 10, 2023 Share Posted January 10, 2023 41 minutes ago, IllianaLancerContra said: Any Corps with a large debt load makes me nervous. SCV may only be the first to have to go inactive & find a way to service the debt The next several months will be interesting in DCI land. 2 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 10, 2023 Share Posted January 10, 2023 13 minutes ago, TOC said: The next several months will be interesting in DCI land. Agree - I fear that only the first of several dominoes has fallen. If others have to go inactive as well, I just hope they make the decision & get it over with. Bad news NEVER gets better with age. 1 Quote Link to comment Share on other sites More sharing options...
LabMaster Posted January 10, 2023 Share Posted January 10, 2023 (edited) 1 hour ago, IllianaLancerContra said: Agree - I fear that only the first of several dominoes has fallen. If others have to go inactive as well, I just hope they make the decision & get it over with. Bad news NEVER gets better with age. I have to believe that any corps who may be close to following SCV, would be very close to announcing that. Reason being that for the most part, auditions are done, marching member counts are getting locked in, shows are being put to paper and beyond, camps & ST are being scheduled which all means, budgets are established ( or good lord should be) which in turn, upcoming costs should be known and confirmed and projected revenues should be factored in to see if the season is feasible. If a corps doesn’t know their financial status and wherewithal by the end of this month, disaster awaits them. If a corps hits the road and has to bail out during tour, it will prove once again, lessons were not learned. Edited January 10, 2023 by LabMaster 3 Quote Link to comment Share on other sites More sharing options...
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