Jeff Ream Posted October 26, 2023 Share Posted October 26, 2023 billable hours are going to be an issue for any corps 2 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted October 26, 2023 Author Share Posted October 26, 2023 35 minutes ago, Jeff Ream said: billable hours are going to be an issue for any corps And discovery plus depositions require many billable hours. The process is the punishment. 1 Quote Link to comment Share on other sites More sharing options...
dcifanforlife Posted October 26, 2023 Share Posted October 26, 2023 2 hours ago, IllianaLancerContra said: Good points. All kinds of behind scenes stuff is happening. We don’t know what insurance policy says. If there is a disagreement between insurance companies & DCI / SoA then there will be more discussions between DCI lawyers & insurance lawyers. More $$ to pay the lawyers will have to come from somewhere. IDK what kind of cash reserves DCI has, but based on what I read here it probably isn’t large. Question I have is: As DCI is the Corps ($0.02 to Jeff Ream), I wonder if the Corps will be required to contribute to the DCI Legal Defense Fund? Suspect it depends on exactly how the DCI incorporation documents are worded. This could easily be the end of DCI as a organization. Whether the surviving Corps reorganize into another organization is a separate discussion. Per DCI's 990 for year ending 12/31/22 they had a cash reserves of $5,596,240. On $14,677,561 revenue they paid $111,185 for insurance. Less than 1 percent which is what most corps pay. You are not going to get any news on this lawsuit until it is settled and documents sealed. Only way to get any details is to show up in court and watch proceedings. Instead you to come on DCP and make up all types of wild theories. Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted October 26, 2023 Author Share Posted October 26, 2023 6 minutes ago, dcifanforlife said: Per DCI's 990 for year ending 12/31/22 they had a cash reserves of $5,596,240. On $14,677,561 revenue they paid $111,185 for insurance. Less than 1 percent which is what most corps pay. You are not going to get any news on this lawsuit until it is settled and documents sealed. Only way to get any details is to show up in court and watch proceedings. Instead you to come on DCP and make up all types of wild theories. Glad to know DCI has the funds to mount a legal defense. 1 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted October 26, 2023 Share Posted October 26, 2023 (edited) Knew someone who got caught up in a sting operation. No idea what he might have done, 8 were arrested but state really wanted 2 guys. Lawyers for those 2 kept appealing and the other 6 and their lawyers had to show up for every hearing. Finally state and lawyers for the 6 cut a plea bargain because the 6 would be broke on lawyer fees. Two years probation and permanent record. Don't even have to go to trial to lose your ###. And we won’t know how much this cost DCI and SoA when it’s all over as none of that is released to the public Edited October 26, 2023 by JimF-LowBari Quote Link to comment Share on other sites More sharing options...
HockeyDad Posted October 26, 2023 Share Posted October 26, 2023 1 hour ago, dcifanforlife said: Per DCI's 990 for year ending 12/31/22 they had a cash reserves of $5,596,240. On $14,677,561 revenue they paid $111,185 for insurance. Less than 1 percent which is what most corps pay. You are not going to get any news on this lawsuit until it is settled and documents sealed. Only way to get any details is to show up in court and watch proceedings. Instead you to come on DCP and make up all types of wild theories. Wild theories? I don’t know, but “lawyers cost money” doesn’t seem very controversial to me. 2 1 Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted October 26, 2023 Share Posted October 26, 2023 1 hour ago, IllianaLancerContra said: Glad to know DCI has the funds to mount a legal defense. but does Spirit? 2 2 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted October 26, 2023 Share Posted October 26, 2023 (edited) I’m going to take for granted that DCI and the corps have insurance to guard against lawsuits of various types. But with the info coming out some insurers may take a look at their policy to determine their legal responsibilities if the corps doesn’t appear to doing what they should. Wouldn’t be surprised if the cost of the policies shoot upward and corps responsibilities are more detailed. And also wouldn’t be surprised if some day an insurer says “you didn’t hold up your end on the contract… we not paying a cent” Edited October 26, 2023 by JimF-LowBari 2 Quote Link to comment Share on other sites More sharing options...
rpbobcat Posted October 27, 2023 Share Posted October 27, 2023 17 hours ago, dcifanforlife said: Per DCI's 990 for year ending 12/31/22 they had a cash reserves of $5,596,240. On $14,677,561 revenue they paid $111,185 for insurance. Less than 1 percent which is what most corps pay. You are not going to get any news on this lawsuit until it is settled and documents sealed. Only way to get any details is to show up in court and watch proceedings. Instead you to come on DCP and make up all types of wild theories. A couple of questions: 1. Where can you find DCI's 990's ? 2.Do the 990's "itemize" the sources for $14 M revenues ? 1 Quote Link to comment Share on other sites More sharing options...
dcifanforlife Posted October 27, 2023 Share Posted October 27, 2023 4 hours ago, rpbobcat said: A couple of questions: 1. Where can you find DCI's 990's ? 2.Do the 990's "itemize" the sources for $14 M revenues ? Guidestar.org you have to get a sign in. (email and password) Drum Corps International Click on Tax Forms. Yes, 990's itemize revenues and expenses. All non profits are listed on guidestar.org. Reading corps 990's is more interesting than most posts on DCP. DCI spends $496,000 a year on credit card fees. Cost of going cashless. Quote Link to comment Share on other sites More sharing options...
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