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Santa Clara Vanguard 2024


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11 hours ago, Jeff Ream said:

this isn;'t the first time of rumors in 2022 being mentioned. anyone have any specifics?

What I deduce is with the operational debt that SCV defaulted on that could have happened at any moment. 

Let me define operational debt: The debt that is carried more or less like short term credit where purchases are not needed up front. Food, fuel, things that are expected to be paid within 30 days and no terms of extended credit are expected. 

SCV defaulted on those vendors during the course of the season. SCV logically decided to default on the little guy verses defaulting on debt secured by their building or vehicles. 

However if the food vendors or any other critical vendor (oh probably charter busses as well) decided not to let SCV skirt along during the course of the season then that would have immediately forced everyone to pack up and go home. 

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Now, since I don't have 2022 financials, and since I don't have details about the 2022 season I am only speculating with the disclosures SCV leadership has shared in regard to working with vendors they owe money, then I can work with my understanding of SCV finances and operations (as a prior Treasurer that set up their operating capital structure) 

Defaulting on tour vendors is basically, food, fuel, and chartered fleet (tractor trucks, and busses with corresponding drivers), perhaps some performing equipment and props (but most of those are sponsor given). 

So if SYSCO said hey, you are not getting your next food drop, or no more food on temporary credit then what would happen?

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I strongly speculate that SCV is starting FY24 in a weaker position than they started FY22, and they have stacked on so much more overhead than they had before. They are not getting the member fees from the cadet corps (nor the corresponding volunteer base), nor are they able to tap into donations. So that's around $1,000,000 they can't pursue. 

They are trying to operate a world tour season with Bingo and member fees alone. While bingo can be a substantial revenue stream, the guy in charge of it's entire oversite is working from Hawaii, and they are in violation of many state and city laws and all impact Bingo. Oh, and the expense model running bingo with paid staff is twice as costly than having used volunteers which SCV donated funds to their corresponding nonprofits they were volunteering for. 

 

 

 

 

 

Edited by Richard Lesher
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2 hours ago, Richard Lesher said:

While bingo can be a substantial revenue stream, the guy in charge of it's entire oversite is working from Hawaii

I’m new to this thread - I’ll admit I didn’t read the last 100 pages of back and forth.

But why is the bingo manager living in Hawaii an indicator the bingo operation isn’t successful? There’s no way bingo is a one-man show. I’m guessing - since he’s designated as a manager - there are feet on the ground that report to this dude…between that and video conference and email…is this really such a red flag?

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15 minutes ago, HarmonyHiker96 said:

I’m new to this thread - I’ll admit I didn’t read the last 100 pages of back and forth.

But why is the bingo manager living in Hawaii an indicator the bingo operation isn’t successful? There’s no way bingo is a one-man show. I’m guessing - since he’s designated as a manager - there are feet on the ground that report to this dude…between that and video conference and email…is this really such a red flag?

I'll intercede to say first that you're inevitably going to encounter something with this question. Likely no matter which alum you talk to, but probably especially among the older cats. That's that "Vanguard should be run by locals."

There are pros and cons to this perspective. But that's another topic.

To your question, this org has a history of mismanagement/high turnover and bingo fraud. Among other things I'll keep out of this thread as much as I can. I think it's justifiable that some of us are suspicious of (1) someone running a very local, multi-million dollar institution (with hyper-local compliance requirements and oversight) from so far away and (2) that this person is related to a former board member.

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15 minutes ago, HarmonyHiker96 said:

I’m new to this thread - I’ll admit I didn’t read the last 100 pages of back and forth.

You're not only new to this thread, you're new to DCP, and this is the thread you choose to participate in, and go straight to the last post and only focus on the Hawaii aspect?

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On 12/7/2023 at 1:55 PM, Richard Lesher said:

If SCV loses the nonprofit status, and with it Bingo I don't know how they would get it reinstated. 

I suspect they wouldn't know how to get it reinstated either, because keeping it would have been the much easier pathway. 

Speaking of Bingo - does anyone know how much of a typical bingo operation is cash, vs credit/debit card (or phone app) ?   I realize that in general society we are moving away from cash.  That said, what I stereotypically envision as the bingo customer base is an older demographic that may be more used to using cash.  
 

It seems obvious to me that a cash business needs close supervision to avoid pilferage of the profits. 

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1 minute ago, IllianaLancerContra said:

Speaking of Bingo - does anyone know how much of a typical bingo operation is cash, vs credit/debit card (or phone app) ?   I realize that in general society we are moving away from cash.  That said, what I stereotypically envision as the bingo customer base is an older demographic that may be more used to using cash.  
 

It seems obvious to me that a cash business needs close supervision to avoid pilferage of the profits. 

When I was on the board, it was effectively ALL OF IT. To the point SCV had an ATM in the building. No credit cards were accepted. 

That said, I would hope they migrated toward cards and electronic sources of payment. 

After the bingo fraud, it was a major pain to keep tabs on things, and it can only be done manually, and is highly dependent on a system of double custody. 

I couldn't tell you how much of Bingo is Cash/Card, and neither can SCV, at least not with audited financial statements. 

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3 hours ago, Richard Lesher said:

When I was on the board, it was effectively ALL OF IT. To the point SCV had an ATM in the building. No credit cards were accepted. 

That said, I would hope they migrated toward cards and electronic sources of payment. 

After the bingo fraud, it was a major pain to keep tabs on things, and it can only be done manually, and is highly dependent on a system of double custody. 

I couldn't tell you how much of Bingo is Cash/Card, and neither can SCV, at least not with audited financial statements. 

Yikes! Isn’t this part of the reporting process?

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5 hours ago, scheherazadesghost said:

I think it's justifiable that some of us are suspicious of (1) someone running a very local, multi-million dollar institution (with hyper-local compliance requirements and oversight) from so far away and (2) that this person is related to a former board member.

Ah - I see. I don’t know anything about bingo or the history of this situation, it was just what was being discussed and I didn’t understand that aspect. Thank you!

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5 hours ago, Richard Lesher said:

you're new to DCP, and this is the thread you choose to participate in, and go straight to the last post and only focus on the Hawaii aspect?

I…feel like I’m missing something..?
 

I mean, Hawaii isn’t all I focused on but I didn’t understand why it was relevant, so I asked about it. 

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