Keith Hall Posted February 21, 2023 Author Share Posted February 21, 2023 And yet my original post........?????? 1 Quote Link to comment Share on other sites More sharing options...
RiverCityAndTroopersFan Posted February 21, 2023 Share Posted February 21, 2023 On 2/10/2023 at 6:28 AM, scheherazadesghost said: What a waste of an immensely precious learning experience for all. Lost to, ick, competition. What do the corps get for competing (considering they are “non profits”) 1 Quote Link to comment Share on other sites More sharing options...
C.Holland Posted February 21, 2023 Share Posted February 21, 2023 6 minutes ago, RiverCityAndTroopersFan said: What do the corps get for competing (considering they are “non profits”) World class get a small payout for each appearance. Amount is based upon last seasons placement. Open Class get a smaller payout in shows which are mixed World and Open. Open Class get paid $0 in appearance fees for Open class shows. Appearance fees barely fill a diesel tank let alone offset the actual costs of drum corps. Quote Link to comment Share on other sites More sharing options...
RiverCityAndTroopersFan Posted February 21, 2023 Share Posted February 21, 2023 22 minutes ago, C.Holland said: World class get a small payout for each appearance. Amount is based upon last seasons placement. Open Class get a smaller payout in shows which are mixed World and Open. Open Class get paid $0 in appearance fees for Open class shows. Appearance fees barely fill a diesel tank let alone offset the actual costs of drum corps. Got it Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted February 21, 2023 Share Posted February 21, 2023 1 hour ago, RiverCityAndTroopersFan said: What do the corps get for competing (considering they are “non profits”) Non-profit doesn’t mean that they don’t (or can’t) turn a profit. It is a tax category for organizations that put profits back into the organization vs paying out to investors. They can (& some do) pay staff, sometimes in six-figures, for top individuals. Others here know the better legalese; and I welcome correction if I have mis-stated something. 1 Quote Link to comment Share on other sites More sharing options...
MikeN Posted February 21, 2023 Share Posted February 21, 2023 No, you're spot on - being tax exempt means basically you can't pay out any profit as dividends or anything like that - it has to go back into the org. Mike 2 Quote Link to comment Share on other sites More sharing options...
C.Holland Posted February 22, 2023 Share Posted February 22, 2023 20 hours ago, MikeN said: No, you're spot on - being tax exempt means basically you can't pay out any profit as dividends or anything like that - it has to go back into the org. Mike so if you have to take your entire staff to the bahamas to "train" them in your operational ways, just gotta equal zero at the end via putting that cash back into your org. Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted February 22, 2023 Share Posted February 22, 2023 48 minutes ago, C.Holland said: so if you have to take your entire staff to the bahamas to "train" them in your operational ways, just gotta equal zero at the end via putting that cash back into your org. Perhaps I'm misreading your question, but I think it is OK to have money in the bank at end of season. But if you want to take staff to Bahamas, or visit DCI's secret Swiss Alpine Chalet, or spend large amounts on transportation (as SCV apparently did), then you can. But just because you can doesn't mean you should. But what you can't do is pay $ back to investors/shareholders. 1 Quote Link to comment Share on other sites More sharing options...
scheherazadesghost Posted February 22, 2023 Share Posted February 22, 2023 11 minutes ago, IllianaLancerContra said: or spend large amounts on transportation (as SCV apparently did), then you can. But just because you can doesn't mean you should. 1 Quote Link to comment Share on other sites More sharing options...
KVG_DC Posted February 22, 2023 Share Posted February 22, 2023 Tell me more about this Swiss Alpine chalet with chocolate filled bath tubs…. 1 Quote Link to comment Share on other sites More sharing options...
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