TOC Posted January 2 Share Posted January 2 Does the CA DOJ have a recent history similar to the USA DOJ in DC? Link to comment Share on other sites More sharing options...
cixelsyd Posted January 2 Share Posted January 2 1 hour ago, Richard Lesher said: Now, this can all magically fix itself if by some chance SCV is holding in hand all the required filings and audits, but why are they dragging it out thing long? My hope is that VMAPA is dragging this out to the last possible moment before magically fixing it all, just to mess with us. Link to comment Share on other sites More sharing options...
TOC Posted January 2 Share Posted January 2 44 minutes ago, cixelsyd said: just to mess with us. Doesn't sound like a DCI organization who has shown nothing but class for decades. 1 Link to comment Share on other sites More sharing options...
scheherazadesghost Posted January 3 Share Posted January 3 (edited) Keeping this on topic: If we're looking at a possibility/probability of a financially-choked (or otherwise hindered) 2024 tour, then history has shown that it's members that get the brunt end of such challenges. Just like in 93. Just like 2003. Likely other years too. I hope the new safeguarding work pays off. The CEO alluded to caring about the safeguarding of current members and alum in our communications. Wish alum also took on that responsibility but perhaps they will start to now. That would be great. I very much long to experience that signature class within the Vanguard community again. Edited January 3 by scheherazadesghost 1 2 Link to comment Share on other sites More sharing options...
greg_orangecounty Posted January 3 Share Posted January 3 New Year, same dead horse. 🙂 Link to comment Share on other sites More sharing options...
scheherazadesghost Posted January 3 Share Posted January 3 5 minutes ago, greg_orangecounty said: New Year, same dead horse. 🙂 Beating a dead horse is an unhelpful analogy in this context. 3 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 3 Share Posted January 3 12 minutes ago, scheherazadesghost said: Beating a dead horse is an unhelpful analogy in this context. One can always make Jerky. Link to comment Share on other sites More sharing options...
scheherazadesghost Posted January 3 Share Posted January 3 5 minutes ago, Richard Lesher said: One can always make Jerky. Eh when you've been the horse, such meat is less appealing. I'm more into prevention, and yes, we've been here before: consistency of messaging is annoying. 👍🏽 Link to comment Share on other sites More sharing options...
Richard Lesher Posted January 3 Share Posted January 3 5 minutes ago, scheherazadesghost said: Eh when you've been the horse, such meat is less appealing. I'm more into prevention, and yes, we've been here before: consistency of messaging is annoying. 👍🏽 Well, where we were last year was: I predict based on my years as SCV Treasure, understanding of their business model, state and local laws, and the starting financial position (year end 2021) of 2022 they would be in clear violation of various bingo laws, and by defaulting on creditors clearly have completely run out of money. What ended up happening when 2022 financials were made available by SCV: I underestimated their financial troubles this time last year. They blew threw $1.4M of their reserves in 2022 (quite possibly ran that down completely to zero at some point, and maybe it bounced back later in the year. We'd need month by month financials to see how it progressed over the year). They also ended FY 2022 in a negative financial liquidity position owing more in short term debt than they had in cash, savings, and investment instruments combined. For them to have made themselves current on all debt they would have had to sell some sort of capital asset (like the trucks). Then, while I projected they were paying bingo employees illegally, and that would happen some time in FY2023 based on the end of FY2022 that clearly was happening during 2022 because of how much they burned through their reserves and ending in a negative liquidity position well before they even got to FY2023. There were no reserves available to pay Bingo Employees from going into FY 2023. As far as the reason for their financial troubles, we were told it was expense related this time last year. However, it really was Revenue related. Their FY2022 expenses were not scarily more than they operated with in FY2019 (the previous normal touring year). However, Bingo net income collapsed while reporting dramatic increases in revenues. I was expecting FY2022 990's to tell me somewhere in the expenses things blew up, but it all points to Bingo. ***** In continuance of this being a "dead horse" I suppose both sides of the passionate argument would disagree. One side would say the horse is not dead, and the other side would say, hey, this is not even a horse (who are you trying to fool). ******************************* For all the heat I have had to deal with this entire last year, this is it folks.................. we are coming to the conclusion of what I said was going to happen this entire time. We could be less than a month away from what I had being trying to encourage SCV steer clear of. SCV and Cool-Aid drinkers can say otherwise, and throw crap my way, but in the last year things have only gotten worse, and in a manner measurable by the California Department of Justice ,and provable by the latest 990. Last year at this time I ended up pulling a post I put here on DCP regarding their illegal Bingo Operations because at the time I was confronted by an attorney I didn't have proof. I only had logic. The SCV President denied any legal or regulatory violations across the board, and a few months later I make their delinquency public (going back to 2020). So that proves the leadership of SCV at the highest levels are liars. Then the 2022 990's prove my theory of Illegal Bingo operations. That has been going on since 2022, and the entirety of 2023, plus the more than $1,000,000 that was raised illegally through grants and donations since 2020 (any line items of donations and grants on the 990's for 2020, 2021, 2022, and 2023 are illegal, and it totals over $1,000,000). I told everyone that could act and fix things this time last year, this is where SCV is going, and the entire year of 2023 was ###### away, and now we are in the final days and it's all in the State of California's hands. ***************** I don't know how a CPA firm is going to be able to provide an audit opinion for 2021, 2022, and 2023 that SCV is not in violation of illegal donation/grant fund raising and distribution, and the illegal Bingo Operations and comingling of bingo income used to pay Bingo Employees. Link to comment Share on other sites More sharing options...
HockeyDad Posted January 3 Share Posted January 3 36 minutes ago, Richard Lesher said: Well, where we were last year was: I predict based on my years as SCV Treasure, understanding of their business model, state and local laws, and the starting financial position (year end 2021) of 2022 they would be in clear violation of various bingo laws, and by defaulting on creditors clearly have completely run out of money. What ended up happening when 2022 financials were made available by SCV: I underestimated their financial troubles this time last year. They blew threw $1.4M of their reserves in 2022 (quite possibly ran that down completely to zero at some point, and maybe it bounced back later in the year. We'd need month by month financials to see how it progressed over the year). They also ended FY 2022 in a negative financial liquidity position owing more in short term debt than they had in cash, savings, and investment instruments combined. For them to have made themselves current on all debt they would have had to sell some sort of capital asset (like the trucks). Then, while I projected they were paying bingo employees illegally, and that would happen some time in FY2023 based on the end of FY2022 that clearly was happening during 2022 because of how much they burned through their reserves and ending in a negative liquidity position well before they even got to FY2023. There were no reserves available to pay Bingo Employees from going into FY 2023. As far as the reason for their financial troubles, we were told it was expense related this time last year. However, it really was Revenue related. Their FY2022 expenses were not scarily more than they operated with in FY2019 (the previous normal touring year). However, Bingo net income collapsed while reporting dramatic increases in revenues. I was expecting FY2022 990's to tell me somewhere in the expenses things blew up, but it all points to Bingo. ***** In continuance of this being a "dead horse" I suppose both sides of the passionate argument would disagree. One side would say the horse is not dead, and the other side would say, hey, this is not even a horse (who are you trying to fool). ******************************* For all the heat I have had to deal with this entire last year, this is it folks.................. we are coming to the conclusion of what I said was going to happen this entire time. We could be less than a month away from what I had being trying to encourage SCV steer clear of. SCV and Cool-Aid drinkers can say otherwise, and throw crap my way, but in the last year things have only gotten worse, and in a manner measurable by the California Department of Justice ,and provable by the latest 990. Last year at this time I ended up pulling a post I put here on DCP regarding their illegal Bingo Operations because at the time I was confronted by an attorney I didn't have proof. I only had logic. The SCV President denied any legal or regulatory violations across the board, and a few months later I make their delinquency public (going back to 2020). So that proves the leadership of SCV at the highest levels are liars. Then the 2022 990's prove my theory of Illegal Bingo operations. That has been going on since 2022, and the entirety of 2023, plus the more than $1,000,000 that was raised illegally through grants and donations since 2020 (any line items of donations and grants on the 990's for 2020, 2021, 2022, and 2023 are illegal, and it totals over $1,000,000). I told everyone that could act and fix things this time last year, this is where SCV is going, and the entire year of 2023 was ###### away, and now we are in the final days and it's all in the State of California's hands. ***************** I don't know how a CPA firm is going to be able to provide an audit opinion for 2021, 2022, and 2023 that SCV is not in violation of illegal donation/grant fund raising and distribution, and the illegal Bingo Operations and comingling of bingo income used to pay Bingo Employees. Summary of this post: I, I, I, I, I, I. Dude, work on keeping that ego in check. You don’t help your cause. 1 1 Link to comment Share on other sites More sharing options...
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