scheherazadesghost Posted January 17, 2023 Share Posted January 17, 2023 46 minutes ago, Richard Lesher said: Someone in that position of leadership and trust is in a very powerful position to abuse, and non profits do not have the checks and balances in place the Military does Thanks for making this point. Glad someone else is. So many noids only listening now that you've said it. Whatevs. At least it's out there more now. Link to comment Share on other sites More sharing options...
Jeff Ream Posted January 17, 2023 Share Posted January 17, 2023 3 hours ago, Richard Lesher said: So now you are getting into juicy stuff here. See, the problem with that is SCV's current CFO discloses she was a forensic accountant in her LinkedIn profile. Worse yet, prior to her taking the position of CFO of SCV she was SCV's Board President for two years. Prior to her becoming the Board President she was the SCV Board Treasurer for 4 years, and the year prior to that she was an at large Director. All these can be validated by looking at the 990 of organization officers and duties. Now prior the CFO prior to her was also a Board member since 2013 (he came on to the Board as I left), and he spend 2 years as Treasurer prior to becoming CFO. Further what really pisses me off is when I was Board Treasurer all SCV had was an outsourced bookkeeper, an operations manager, and myself looking over the finances. After I left they took on a Finance Manager, and after he left they then made the position a Chief Financial Officer position. See where I am going with this, as the financial positions elevated in so called competency that was inversely correlated with financial performance. Drum Corps is not a financial derivatives trading desk. We all just need a competent bookkeeper to track expenses and revenues in a manner that allows leadership to forecast where business is going. The most complicated financial analysis one has to do for a Drum Corps is decide how to set up it's operational borrowing. One year we tried to do a fuel futures contract hedge, but those contracts even on a single basis are so large that it dwarfs our fuel needs. So it needs to be executed in coordination with other corps to buy in on the contract. So now we were herding cats trying to get everyone who has no money to submit funds to buy the contract. It never happened, we never got enough buy in quick enough to make the hedge work. I would imagine the regulations around the gaming makes the job more complicated 1 Link to comment Share on other sites More sharing options...
Terri Schehr Posted January 17, 2023 Share Posted January 17, 2023 1 hour ago, littlejaw said: It is probably best to realize that assuredly SCV isn’t the only corps with issues. This is just the one where someone with a lot of insight has come forward. It’s like you read my mind. Link to comment Share on other sites More sharing options...
Jeff Ream Posted January 17, 2023 Share Posted January 17, 2023 1 hour ago, littlejaw said: It is probably best to realize that assuredly SCV isn’t the only corps with issues. This is just the one where someone with a lot of insight has come forward. Fear of the end result if they do come forward. This was a theme from former Cadets and YEA employees almost 5 years ago 1 1 Link to comment Share on other sites More sharing options...
troopers1 Posted January 17, 2023 Share Posted January 17, 2023 On 1/16/2023 at 12:41 PM, Richard Lesher said: SCV, at worst had over $4,000,000 available to them over the course of 2022 before taking on any additional debt. At the conclusion of 2022 it is disclosed partially by executive management that SCV is carrying operating debt from the competitive season (which is going to be due immediately) they can’t pay, and now both the A Corps and the Cadet Corps are being mothballed. What happened? I’m beside myself. Going back to the original question, wouldn't the suspects be: - Purchasing rolling stock - Market losses - 2022 was a bad year - Spending to build / refurbish / license a new bingo hall Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted January 17, 2023 Share Posted January 17, 2023 2 hours ago, Terri Schehr said: It’s like you read my mind. Hopefully Jim isn’t the jealous type… 3 Link to comment Share on other sites More sharing options...
Ediker Posted January 17, 2023 Share Posted January 17, 2023 19 hours ago, Richard Lesher said: had ceased all Bingo operations refusing to even try and start up limited Bingo games within COVID health guidelines. A zombie apocalypse combined with a nuclear war wouldn’t stop most people from milking a Bingo license. What a waste… 1 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 17, 2023 Author Share Posted January 17, 2023 (edited) On 1/17/2023 at 11:19 AM, Jeff Ream said: I would imagine the regulations around the gaming makes the job more complicated POST REMOVED PENDING CONERSATION WITH SCV REPRESNATIVES. I will copy and paste it back when/if appropriate. Edited January 19, 2023 by Richard Lesher 2 2 2 Link to comment Share on other sites More sharing options...
TRacer Posted January 17, 2023 Share Posted January 17, 2023 7 hours ago, Slingerland said: Mandarins are a model of economic discipline, and have been for a long time. …and their current director used to be the ED of SCV….in my view they should have kept him. 1 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 17, 2023 Author Share Posted January 17, 2023 1 hour ago, troopers1 said: Going back to the original question, wouldn't the suspects be: - Purchasing rolling stock - Market losses - 2022 was a bad year - Spending to build / refurbish / license a new bingo hall Well they over paid for vehicles by about 2X relative to BD. Market losses would be minimal as the investment policy is very conservative, I know, I personally wrote it. Spending to build cannot come out of Bingo revenue, anything associated with the bingo hall has to come out of largely marching member fees, those are all very stable known cashflows. They still had an astronomical economic means relative to every single other DCI member organization. 2 2 Link to comment Share on other sites More sharing options...
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