Richard Lesher Posted December 9, 2023 Share Posted December 9, 2023 (edited) OK, this is very serious. The comparison of the overall expenses of entire operations is not entirely that far off from 2019 and 2022. It's not great, but I was expecting to see tour operations as the main culprit. It is in the revenues where SCV falls greatly short. Below is the 2019 bingo numbers. I use 2019 as a reference as what it could possibly be in the best of times and compare them against FY2022 Does everyone see what I am freaking out about. For the love of god, Bingo Revenues increased $6.1M in 2022 yet they made $1.2M less. OH MY GOD HERE WE GO AGAIN!!!!!!!!!!!!!!!!! Edited December 9, 2023 by Richard Lesher Link to comment Share on other sites More sharing options...
Slingerland Posted December 9, 2023 Share Posted December 9, 2023 5 minutes ago, Richard Lesher said: OK, this is very serious. The comparison of the overall expenses of entire operations is not entirely that far off from 2019 and 2022. It's not great, but I was expecting to see tour operations as the main culprit. It is in the revenues where SCV falls greatly short. Below is the 2019 bingo numbers. I use 2019 as a reference as what it could possibly be in the best of times and compare them against FY2022 Does everyone see what I am freaking out about. For the love of god, Bingo Revenues increased $6.1M in 2022 yet they made $1.2M less. OH MY GOD HERE WE GO AGAIN!!!!!!!!!!!!!!!!! Did they increase the amount of payouts in the interest of attracting more players? I don't know anything about the Bingo world, but I'm guessing that increased odds of payout would attract more players (and clearly that's a big bump in gross revenues from 19 to 22). Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 9, 2023 Share Posted December 9, 2023 3 hours ago, corps8294 said: Again, and help me figure this out...there is a staff in place, I'm assuming a show being put together, auditions are occurring, and there is a still a financial s**tshow in play? This corps expects everything to be resolved and rosey-cozy by the time tour season arrives? pretty much 1 Link to comment Share on other sites More sharing options...
Richard Lesher Posted December 9, 2023 Share Posted December 9, 2023 23 minutes ago, Slingerland said: Did they increase the amount of payouts in the interest of attracting more players? I don't know anything about the Bingo world, but I'm guessing that increased odds of payout would attract more players (and clearly that's a big bump in gross revenues from 19 to 22). Only a complete moron wouldn't raise prices with corresponding payouts to match profitability. Manager is in Hawaii They don't have a bingo committee anymore No one is watching the hen house Financials are not audited. I'm going with activities more on the illegal side of things. 2 Link to comment Share on other sites More sharing options...
Sutasaurus Posted December 9, 2023 Share Posted December 9, 2023 (edited) 11 minutes ago, Richard Lesher said: Only a complete moron wouldn't raise prices with corresponding payouts to match profitability. Manager is in Hawaii They don't have a bingo committee anymore No one is watching the hen house Financials are not audited. I'm going with activities more on the illegal side of things. This. Edited December 9, 2023 by Sutasaurus 1 Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted December 9, 2023 Share Posted December 9, 2023 19 minutes ago, Richard Lesher said: Only a complete moron wouldn't raise prices with corresponding payouts to match profitability. Manager is in Hawaii They don't have a bingo committee anymore No one is watching the hen house Financials are not audited. I'm going with activities more on the illegal side of things. I call shenanigans 1 Link to comment Share on other sites More sharing options...
Richard Lesher Posted December 9, 2023 Share Posted December 9, 2023 I am getting the impression, on the surface, had Bingo not imploded cash flows would have more than covered whatever expense increases SCV incurred during the 2022 tour. Had the bingo profit ratio remained constant against revenues they would have had $3.8M more in 2022 alone to work with. Had the bingo net income remained the same (and still lost out of profitability ratio) they would have had $1.5M more and would have never needed to liquidate any of the reserves. It would have been a touch and go year, but it would have likely been totally accepted by everyone (to include myself). Link to comment Share on other sites More sharing options...
Bruckner8 Posted December 9, 2023 Share Posted December 9, 2023 3 hours ago, Richard Lesher said: IT IS NOW ABSOLUTE CERTAINTY THAT ILLEGAL DONATIONS EXCEED $1,000,000 Form 990 Part I Summary line 8 Contributions and grants (Part VIII, line 1h) 2020 - 171,194 2021 - 547,347 2022 - 457,855 Total Donations and Grants during the violation period is $1,176,396. Vanguard did not acknowledge its delinquent status until April 2023. The last audited financial statements are for FY2019. The above numbers are from unaudited, but filed 990's. To counter this number as false one would need to present audited financial statements validating the sources of funds fell out of the sky unsolicited. Vanguard continues to maintain its online donation channels on its website. This is the heart of my confusion: how can it be ILLEGAL TO SOLICIT donations, under any circumstance? Begging for money (in any context) is a time-honored American tradition. Even so, maybe all of those donations are Unsolicited. How would we (or a judge) even know? Who cares is the website has a donation button? Maybe they laid off the web developer in tough times. (A judge will let that go) Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 9, 2023 Share Posted December 9, 2023 2 hours ago, Richard Lesher said: Only a complete moron wouldn't raise prices with corresponding payouts to match profitability. Manager is in Hawaii They don't have a bingo committee anymore No one is watching the hen house Financials are not audited. I'm going with activities more on the illegal side of things. Borders on criminal Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 9, 2023 Share Posted December 9, 2023 10 minutes ago, Bruckner8 said: This is the heart of my confusion: how can it be ILLEGAL TO SOLICIT donations, under any circumstance? Begging for money (in any context) is a time-honored American tradition. Even so, maybe all of those donations are Unsolicited. How would we (or a judge) even know? Who cares is the website has a donation button? Maybe they laid off the web developer in tough times. (A judge will let that go) They’re not in compliance with the state. 2 Link to comment Share on other sites More sharing options...
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