Author Topic: SCTA financial report October/November 2013  (Read 24240 times)

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Offline Seldom Seen Slim

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SCTA financial report October/November 2013
« on: November 03, 2013, 06:29:55 PM »
This is from the most recent SCTA meeting.  It shows some startling news - at least it's startling to me.  Remember, by the way, that SCTA is a public non-profit organisation and therefore stuff like this is available to the public.  I didn't "steal" it nor take it from unsubstantiated sources.


SCTA:  Excerpts from Friday night’s SCTA-BNI Board and Reps Meeting:
 
Mike Manghelli passed out a financial document showing two pages back-to back income and expenses separated into two types.  When the numbers are considered together both membership and racing incomes and expenses they total up to the following losses to the SCTA in total (this excluded BNI subsidies)
 
2010 –loss $46,500.00
2011 –loss $69,000.00
2012 – loss $55,000.00
These numbers are confirmed by Delia Riley.
 
Roy Creel did some quick accounting and he came up with a cost to the SCTA of $158.00 per vehicle to race and the SCTA is currently charging $65.00 to the entrant.
 
BNI:  Excerpts from Friday night’s SCTA-BNI Board and Reps Meeting:
 
This accounting of the year to date shows income of $689,652.17 and expenses of $716,365.96 leaving a negative balance of -$26,713.79.  Russ Eyres also included a report dated 08/01/2013 through 10/25/203 as a separate item.  This captures most of the activity during Speed Week.  This report shows an income of $282,690.89 and expenses of $518,898.06 creating a substantial negative balance of -$236,207.20.

Also included in this report were comparisons from 2010, 2011 and 2012.  The report was very revealing showing the following results:   
2010 Income $752,770.69 Expenses $795,740.64 Balance -$42,969.95
2011 Income $721,739.07 Expenses $859,203.89 Balance -$137,464.82
2012 Income $936,626.85 Expenses $950,963.06 Balance -$14,336.25

The following is not specifically in the minutes but if the numbers that are listed in the SCTA treasurers report and the BNI treasurers report are considered together this are the total losses for the SCTA-BNI:

2010: Loss -$89,469.95
2011: Loss -$206,464.82
2012: Loss -$69,336.25
Total Loss $365,271.02
And 2013 is not looking good
 
Jon E. Wennerberg
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Offline desotoman

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Re: SCTA financial report October/November 2013
« Reply #1 on: November 03, 2013, 08:45:51 PM »

This is from the most recent SCTA meeting.  It shows some startling news - at least it's startling to me.  Remember, by the way, that SCTA is a public non-profit organisation and therefore stuff like this is available to the public.  I didn't "steal" it nor take it from unsubstantiated sources.

 

SSS,

Where did you get this and why are you posting this here? If you are not an SCTA member it is non of your business. I know it is not possible for John Q Public to get the SCTA minutes from only a couple of weeks ago. I don't understand your logic as this is not good for Landspeedracing, period. I am asking you nicely to take this down immediately. It is really beyond me why you have done this. Was this politically motivated?

Tom G.
« Last Edit: November 03, 2013, 08:58:53 PM by desotoman »
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Offline racefanwfo

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Re: SCTA financial report October/November 2013
« Reply #2 on: November 03, 2013, 09:28:59 PM »
desotoman what part of the SCTA is a public non-profit organisation and therefore stuff like this is available to the public do you not understand.
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Offline Seldom Seen Slim

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Re: SCTA financial report October/November 2013
« Reply #3 on: November 03, 2013, 09:32:09 PM »
Tom, SCTA is a non-profit, right?  And as such their reports (like this) are in the public domain.  It isn't secret.  As to why I've posted it -- as land speed racers that participate we need to know the financial condition of the sanctioning organisation under whom we race.  And if that group is not being completely self-funded for a few years -- it is important to all of us to know the status so that maybe we can at least know what's going on -- and maybe to be able to help in some way to keep things going well and strongly.  Take another look at the SpeedWeek survey, keeping the financial statement in mind, and see if there is some way that your input can help make the SCTA financially stable and strong again.

Posting this IS good for land speed racing -- and NOT politically motivated.  I'm not sure how it could be - since it is a "picture" of the past few years as they happened.  Let's try to pull together to help, not keep secrets and hide from the truth.
Jon E. Wennerberg
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 Skandia, Michigan
 (that's way up north)
2 Club member x2
Owner of landracing.com

Offline bak189

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Re: SCTA financial report October/November 2013
« Reply #4 on: November 03, 2013, 09:54:30 PM »
Like I have noted in the past, as I was told by a SCTA/BNI "official" "I don't want anything discussed here to appear in the Landracing.com".......Proofs my point......................
Question authority.....always

Offline edinlr

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Re: SCTA financial report October/November 2013
« Reply #5 on: November 03, 2013, 11:28:23 PM »
I don't understand why any non-profit would not share their financial information with interested parties.  My church and charities I support are usually pretty free with this information.  The statement "don't let this out to Landracing Forum" probably guaranteed that it would make it here.

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Offline SPDRACR

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Re: SCTA financial report October/November 2013
« Reply #6 on: November 04, 2013, 12:12:27 AM »
As a member of both SCTA-BNI for over half of my Life, I believe that this report needs to be here in full content. Not in Excerpts as chosen by Slim Or his unnamed sources. This an incomplete look at the whole picture, It doesn't have any thing about the BNI membership dues, Nor does it account for the SCTA and or BNI concessions. We can all take Excerpts from any conversation or written material and spin it in what ever way we want..................It's call reality TV.......
Or a racing blog after the racing season when idle hands get bored. If you what the real information and the whole information contact Your BNI Chairman.
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Offline Sumner

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Re: SCTA financial report October/November 2013
« Reply #7 on: November 04, 2013, 12:21:01 AM »
... Let's try to pull together to help, not keep secrets and hide from the truth.

Jon as has been stated above what you posted isn't the whole story and none of this is kept as a secret.  If one joins a club and becomes a SCTA member you get copies of the minutes of the meetings with the complete transcript. 

If one really wants to be involved and help then join a club and be a participant.  It is these clubs and their members that have kept this going for over 60 years now.  They seem to of developed a system that works,

Sum

Offline desotoman

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Re: SCTA financial report October/November 2013
« Reply #8 on: November 04, 2013, 01:10:20 AM »
desotoman what part of the SCTA is a public non-profit organisation and therefore stuff like this is available to the public do you not understand.

Well I do understand about non profits being available to the public, and it is my understanding that reports are filed quarterly, or yearly, and October is not the end of a quarter. But this was taken off the minutes of the last meeting that was October 25, 2013 and the minutes were not released from Scott Andrews until October 29, 2013, last time I looked today is only November 3, 2013,  so It is impossible for Jon to have gotten these numbers by contacting the non profit agency especially on a weekend. Government just does not work that fast, and don't require that you submit meeting minutes. 

For some reason some one sent this information to Jon and he is posting it for them. Otherwise this information for this quarter would not be available until Jan 2014 at the earliest. Now do you understand what I am saying!

Tom G.
« Last Edit: November 04, 2013, 02:03:57 AM by desotoman »
I love the USA. How much longer will we be a free nation?

Asking questions is one's only way of getting answers.

The rational person lets verified facts form or modify his opinion.  The ideologue ignores verified facts which don't fit his preconceived opinions.

Offline desotoman

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Re: SCTA financial report October/November 2013
« Reply #9 on: November 04, 2013, 02:02:01 AM »
Tom, SCTA is a non-profit, right?  And as such their reports (like this) are in the public domain.  It isn't secret.  As to why I've posted it -- as land speed racers that participate we need to know the financial condition of the sanctioning organisation under whom we race.  And if that group is not being completely self-funded for a few years -- it is important to all of us to know the status so that maybe we can at least know what's going on -- and maybe to be able to help in some way to keep things going well and strongly.  Take another look at the SpeedWeek survey, keeping the financial statement in mind, and see if there is some way that your input can help make the SCTA financially stable and strong again.

Posting this IS good for land speed racing -- and NOT politically motivated.  I'm not sure how it could be - since it is a "picture" of the past few years as they happened.  Let's try to pull together to help, not keep secrets and hide from the truth.

Jon,

Read my reply to racefanwfo, as it applies to you also. In my first post I asked you who sent this information to you, and you did not reply except that it is public record, well I know for a fact that it is off the minutes of the last SCTA meeting, so who sent this to you? Ron Main, Scott Andrews? A member from SCTA sent you this. Please answer the question, as it did not just come from thin air, or a public record as you state. 

Nothing is being hidden, I am an SCTA member and get the minutes from every board meeting. So tell me how this is being hidden from members of SCTA.  I am not worried about it as I know how the system works. You don't and are throwing numbers out that most people will not understand, and only be confused by.

Someone has you buffaloed and they are using you by making you think that SCTA is hiding stuff, and they are not, it is available to any SCTA member that asks.

Finally, to my knowledge financials have to be filed quarterly or yearly to keep your non profit status . Minutes from meetings would not, just spread sheets with the numbers and what they represent. So minutes from meeting are not disclosed in the financials, and are not PUBLIC RECORD.     I really do think this is political, and you don't realize the person or persons sending you this information are using you.

Tom G.


I love the USA. How much longer will we be a free nation?

Asking questions is one's only way of getting answers.

The rational person lets verified facts form or modify his opinion.  The ideologue ignores verified facts which don't fit his preconceived opinions.

Offline desotoman

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Re: SCTA financial report October/November 2013
« Reply #10 on: November 04, 2013, 02:06:21 AM »
... Let's try to pull together to help, not keep secrets and hide from the truth.

Jon as has been stated above what you posted isn't the whole story and none of this is kept as a secret.  If one joins a club and becomes a SCTA member you get copies of the minutes of the meetings with the complete transcript. 

If one really wants to be involved and help then join a club and be a participant.  It is these clubs and their members that have kept this going for over 60 years now.  They seem to of developed a system that works,

Sum

Thank You, Sum.

You understand the process.

Tom G.
I love the USA. How much longer will we be a free nation?

Asking questions is one's only way of getting answers.

The rational person lets verified facts form or modify his opinion.  The ideologue ignores verified facts which don't fit his preconceived opinions.

Offline desotoman

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Re: SCTA financial report October/November 2013
« Reply #11 on: November 04, 2013, 02:14:14 AM »
Like I have noted in the past, as I was told by a SCTA/BNI "official" "I don't want anything discussed here to appear in the Landracing.com".......Proofs my point......................


One official does not make an organization, and this site has been in existence for quite a few years, so your talk with that official could have been 1 to 10 years ago.

Tom G.
I love the USA. How much longer will we be a free nation?

Asking questions is one's only way of getting answers.

The rational person lets verified facts form or modify his opinion.  The ideologue ignores verified facts which don't fit his preconceived opinions.

Offline 38flattie

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Re: SCTA financial report October/November 2013
« Reply #12 on: November 04, 2013, 07:02:04 AM »

This is from the most recent SCTA meeting.  It shows some startling news - at least it's startling to me.  Remember, by the way, that SCTA is a public non-profit organisation and therefore stuff like this is available to the public.  I didn't "steal" it nor take it from unsubstantiated sources.

 

SSS,

Where did you get this and why are you posting this here? If you are not an SCTA member it is non of your business. I know it is not possible for John Q Public to get the SCTA minutes from only a couple of weeks ago. I don't understand your logic as this is not good for Landspeedracing, period. I am asking you nicely to take this down immediately. It is really beyond me why you have done this. Was this politically motivated?

Tom G.




As a member of both SCTA-BNI for over half of my Life, I believe that this report needs to be here in full content. Not in Excerpts as chosen by Slim Or his unnamed sources. This an incomplete look at the whole picture, It doesn't have any thing about the BNI membership dues, Nor does it account for the SCTA and or BNI concessions. We can all take Excerpts from any conversation or written material and spin it in what ever way we want..................It's call reality TV.......
Or a racing blog after the racing season when idle hands get bored. If you what the real information and the whole information contact Your BNI Chairman.



desotoman what part of the SCTA is a public non-profit organisation and therefore stuff like this is available to the public do you not understand.

Well I do understand about non profits being available to the public, and it is my understanding that reports are filed quarterly, or yearly, and October is not the end of a quarter. But this was taken off the minutes of the last meeting that was October 25, 2013 and the minutes were not released from Scott Andrews until October 29, 2013, last time I looked today is only November 3, 2013,  so It is impossible for Jon to have gotten these numbers by contacting the non profit agency especially on a weekend. Government just does not work that fast, and don't require that you submit meeting minutes. 


... Let's try to pull together to help, not keep secrets and hide from the truth.

Jon as has been stated above what you posted isn't the whole story and none of this is kept as a secret.  If one joins a club and becomes a SCTA member you get copies of the minutes of the meetings with the complete transcript. 

If one really wants to be involved and help then join a club and be a participant.  It is these clubs and their members that have kept this going for over 60 years now.  They seem to of developed a system that works,

Sum


I have to agree with Tom on this-SCTA business is for SCTA members, and should not be posted here without a release from the SCTA.

Sumner has it right. If a person is concerned, and wants to be part of the solution, join a club and participate!
With sufficient thrust, pigs fly just fine. However, this is not necessarily a good idea. It is hard to be sure where they are going to land, and it could be dangerous sitting under them as they fly overhead. -- RFC 1925

You can't make a race horse out of a pig. But if you work hard enough at it you can make a mighty fast pig. - Bob Akin

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Offline wheelrdealer

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Re: SCTA financial report October/November 2013
« Reply #13 on: November 04, 2013, 07:56:13 AM »
For 20 years my job for Southeast Toyota Distributors was to help turn around failing car dealerships. A financial statement and balance sheet have many sections. Any one section can tell a pretty compelling story out of context of the whole document... but the net profit/loss at the very bottom with the double underline tells the whole story. A good decision on bad numbers can have the same results as bad decision.

What I took away from this is:  I want SCTA/BNI to live forever. I live on the East coast and never thought about joining a club because going to a meeting West coast is not practical. I don't believe in just signing up and riding on other people's work. How does a guy on the East Coast join a club and do his part?

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Offline 38flattie

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Re: SCTA financial report October/November 2013
« Reply #14 on: November 04, 2013, 08:01:07 AM »
For 20 years my job for Southeast Toyota Distributors was to help turn around failing car dealerships. A financial statement and balance sheet have many sections. Any one section can tell a pretty compelling story out of context of the whole document... but the net profit/loss at the very bottom with the double underline tells the whole story. A good decision on bad numbers can have the same results as bad decision.

What I took away from this is:  I want SCTA/BNI to live forever. I live on the East coast and never thought about joining a club because going to a meeting West coast is not practical. I don't believe in just signing up and riding on other people's work. How does a guy on the East Coast join a club and do his part?

BR

I'm a member of the Road Runners, yet I live in Colorado, 1200 miles from the cub. I receive the club minutes every month, can vote on issues, and am kept informed of the SCTA happenings.

I do have to perform club duties once a year at El Mirage,but I consider that a pretty good deal!

So, it can be done, if you're serious about it.
With sufficient thrust, pigs fly just fine. However, this is not necessarily a good idea. It is hard to be sure where they are going to land, and it could be dangerous sitting under them as they fly overhead. -- RFC 1925

You can't make a race horse out of a pig. But if you work hard enough at it you can make a mighty fast pig. - Bob Akin

http://www.flatcadracing.org/
http://youtu.be/89rVb497_4c