On Aug 30, 4:36 pm, Rob wrote:
On Aug 30, 1:19 pm, "Paul Thomas, CPA"

Ever thought of forming the ACA? Or the USCA? Or the NACF? Or any other
combination of alphabets?

--
Paul A. Thomas, CPA
Athens, Georgia

Way to go Paul! You volunteering to be the treasurer/accountant/
auditor in residence for a new organization :-)
Rob(which-Mitch)

There have been many, many plans and efforts to start a rival
organization to the USCF. All have failed.

Rob(which-Mitch) is a non-chess-player who dreams of starting another
rival organization, and thus he bothers us with nonsense-postings
every day.

He is safely ignored.

Sam Sloan

samsloan writes:
Ever thought of forming the ACA? Or the USCA? Or the NACF?
There have been many, many plans and efforts to start a rival
organization to the USCF. All have failed.

There is in fact a reasonably successful rival organization to the
USCF, called the ICC. Its annual dues are higher than the USCF's, but
those dues effectively include the rating and entry fees for an
unlimited number of events. And so I believe it has more members than
the USCF has. I'm just about certain that it rates more games per
year than the USCF does, for more minutes of rated play.

The ACA was kind of interesting, but not really up to the job
for reasons that I think are addressible.

David Kane has mentioned a Seattle-area organization that rates
scholastic games for free. I don't see a compelling reason something
like that couldn't be national and open to everyone.

What are/were the USCA and NACF?

"samsloan" wrote in message
oups.com...

The board members know they are at risk for their decisions, both
financially and legally, right?

They can be sued for mismanagement, and even charged with criminal
activity
if that's the case. That's why you do all you can when it comes to "full
disclosure", in the light of protecting certain details on personnel and
the
like.

Y'all need to find a geeky attorney to join the board.

--
Paul A. Thomas, CPA
Athens, Georgia

Are you sure about this, because you have just put your finger on the
button?

**Sam Sloan wakes up after a year at the helm, to question what was an open
scandal just two years ago. He is still two hops behind current activities
wink but here he is, too late, taking it over when he no longer can do
anything about it.

Pity cloth-ears doesn't actually listen to anyone, since asking 20 questions
per day is only useful if you listen to the answers - but i think that was
never his plan. I see in another post he has just woken up to Cisscom in
Scotland, but I'll deal with that in its own thread. Phil Innes

---------

Chess Cafe bought the USCF's books and equipment business in 2004, by
making by far the best bid and guaranteeing to pay a minimum of
$250,000 per year.

By mid-2005, they were far behind in their payments and refusing to
pay unless the USCF agreed to re-negotiate.

Finally, the USCF Executive Board agreed to forgive the indebitedness
of $150,000 and signed a new deal under which Chess Cafe guaranteed to
pay only $100,000 per year.

Naturally, the companies that were outbid by Chess Cafe are angry
because they were prepared to pay more than Chess Cafe ultimately paid
under the final renegotiated contract.

This all happened in the year BEFORE I was elected to the USCF
Executive Board.

So, now you are saying that the USCF Board could be sued for mis-
management and even charged with criminal activity.

Is that correct?

Sam Sloan

"Chess One" wrote
But lookee here! Since you are a CPA and possibly gullible enough to
give free advice, what is the precedent for a non-profit forgiving a
for-profit its debt without any security or recovery of that debt? Let's
say the amount is about $150,000 and the non-profit in a monopoly
situation.




The NFP would be required to issue a 1099-C for the cancellation of the
debt.

Good grief! But what does that mean?



That means, if done properly, the IRS will know that the for-profit entity
received a sum of money (or goods or services) that they didn't have to pay
back, and that's income to the for-profit entity in most cases.

The same thing is looming for most of the folks that let their homes get
foreclosed on. I'll bet there will be tons of folks who get bitch slapped
with taxes on their foreclosure this year.




The FP entity would have taxable income in most cases.

Then the board would have a fiduciary responsibility to not do business
with that entity in the future.

AH! In this instance it insisted on continuing business with that entity,



Really now, would a reasonable person do such a thing? And that IS the
standard the Board members could be held accountable to. "Would a
reasonable person do what they did?" That's what the jury would be
deciding.




Hey - don't you boys down there go n "y'all" a yankee,



We "y'all" everybody, and proudly tell redneck jokes about ourselves. It's
how we get-r-done down here.





--
Paul A. Thomas, CPA
Athens, Georgia

"samsloan" wrote
Are you sure about this, because you have just put your finger on the
button?

Chess Cafe bought the USCF's books and equipment business in 2004, by
making by far the best bid and guaranteeing to pay a minimum of
$250,000 per year.

By mid-2005, they were far behind in their payments and refusing to
pay unless the USCF agreed to re-negotiate.

Finally, the USCF Executive Board agreed to forgive the indebitedness
of $150,000 and signed a new deal under which Chess Cafe guaranteed to
pay only $100,000 per year.

Naturally, the companies that were outbid by Chess Cafe are angry
because they were prepared to pay more than Chess Cafe ultimately paid
under the final renegotiated contract.

This all happened in the year BEFORE I was elected to the USCF
Executive Board.

So, now you are saying that the USCF Board could be sued for mis-
management and even charged with criminal activity.

Is that correct?




Anything is possible. You should have known that decisions made by the
board are subject to scrutiny. The board minutes should reveal the thought
processes made in the decision to continue the contract with that entity.

Someone defaults on a contractual agreement, and what they bought should
have been repossessed at a minimum, and/or legal actions taken against them
to collect on that contract.

There has to be absolutely solid reasons to renegotiate under such
circumstances, and, there has to be absolutely solid reasons as to why the
Board went with that entity in the first place and why the Board continues
to do business with that entity after such behavior - and - given the fact
that there are other competing entities that are willing to do what should
be the same thing at a much more favorable financial benefit to the
Organization. The minutes should reveal why the Board rejected those other
proposals.

THAT is your fiduciary duty to the members - to act in their (not your) best
interest.

If the members decide that they were "damaged" by those decisions and
actions (or lack of actions) the Board members, Officers, and key employees
are at risk of being sued.

If you are - or were - one of those people, consider seeking legal advice.
Part of that legal advice may be to quit airing things in a public forum, as
they might be used against you in court.



Chess is a game - being on the Board is not.




--
Paul A. Thomas, CPA
Athens, Georgia

"Paul Rubin" wrote
What are/were the USCA and NACF?




Made up entities.....

United States Chess Association

North American Chess Federation



Feel free to create more.


WCC = World Chess Council

GCG = Global Chess Group

NACP = Native American Chess Players




or my fav




NAACP = North American Armature Chess Phederation


of course, you might attract a different class of "playa".






--
Paul A. Thomas, CPA
Athens, Georgia

But lookee here! Since you are a CPA and possibly gullible enough to
give
free advice, what is the precedent for a non-profit forgiving a
for-profit its debt without any security or recovery of that debt?
Let's
say the amount is about $150,000 and the non-profit in a monopoly
situation.




The NFP would be required to issue a 1099-C for the cancellation of the
debt.

Good grief! But what does that mean?

The FP entity would have taxable income in most cases.


Precisely what I said over a year ago on Sam's forum -- the forgiven debt
would be a taxable item for Chess Cafe. That would only be true if it
were truly "forgiven" and not simply written off as unlikely to be
collected.


Why does the delegate talk hypothetically, with 'would be true'. It is
forgiven, no? Or does it actually exist as a lean against Chesscafe's
business - for which tax was paid? What do the current financials say?
WHOOPS! Of course, there are no current financials. Phil Innes


ECJ

"Paul Thomas, CPA" wrote in message
.. .
The NFP would be required to issue a 1099-C for the cancellation of the
debt.

Good grief! But what does that mean?



That means, if done properly, the IRS will know that the for-profit entity
received a sum of money (or goods or services) that they didn't have to
pay back, and that's income to the for-profit entity in most cases.

The same thing is looming for most of the folks that let their homes get
foreclosed on. I'll bet there will be tons of folks who get bitch slapped
with taxes on their foreclosure this year.

yes - they are still allowed to advertise services on tv too, even when the
entire industry is going into, do you say, 'Savings&Loan'?

The FP entity would have taxable income in most cases.

Then the board would have a fiduciary responsibility to not do business
with that entity in the future.

AH! In this instance it insisted on continuing business with that entity,



Really now, would a reasonable person do such a thing? And that IS the
standard the Board members could be held accountable to. "Would a
reasonable person do what they did?" That's what the jury would be
deciding.

I have raised the issue with 2 new board members, and when they get their
feet under the table we will learn more. At least this allows them not to be
enveloped or ambushed in something not their making, but which may achieve
the status of an IRS audit, nevermind private suits [but that has to do with
associated business between the same parties.]

Hey - don't you boys down there go n "y'all" a yankee,



We "y'all" everybody, and proudly tell redneck jokes about ourselves.
It's how we get-r-done down here.

I do like y'all girl, Natalie Merchant, and her House Carpenter album. [she
actually recorded it here in Vt just up the road in the Windham Hill
studios.]

Phil Innes

--
Paul A. Thomas, CPA
Athens, Georgia

"Paul Thomas, CPA" wrote in message
.. .

NAACP = North American Armature Chess Phederation


of course, you might attract a different class of "playa".

How come, if you are a /real/ CPA, you make jokes? If I knew you could,
maybe I would have signed up young for the US Accounting Corps [pronounced
'u-ask']. Is it as much fun as you make it seem? As we
sales-tycoons-turned-moose-psychologists used to say:

Q. How many CPA's does it take to change a lighbulb?
A. One. And its not funny.

Even though you don't wear ties, I bet you got a decent haircut - in the
sales world we used to refer to accountants as 'pencil-necks'. You may not
have heard that term, and you also may not be aware that chessplayers wear
one or two t-shirts at a time, with an old sweatshirt over the top, above
dirty jeans and busted sneakers, on top of all that is a wig with a
miniature communication device woven in*, and that's just the grandmasters!

Just because we play chess doesn't mean we can spit far, without, by all
evidence, dribbling a lot of it down our fronts.

Phil Innes, STTMP
The Hippocampus, Vt.

*long story

--
Paul A. Thomas, CPA
Athens, Georgia

On Aug 31, 9:08 am, "Chess One" wrote:

Q. How many CPA's does it take to change a lighbulb?
A. One. And its not funny.

Even though you don't wear ties, I bet you got a decent haircut - in the
sales world we used to refer to accountants as 'pencil-necks'. You may not
have heard that term, and you also may not be aware that chessplayers wear
one or two t-shirts at a time, with an old sweatshirt over the top, above
dirty jeans and busted sneakers, on top of all that is a wig with a
miniature communication device woven in*, and that's just the grandmasters!

Just because we play chess doesn't mean we can spit far, without, by all
evidence, dribbling a lot of it down our fronts.

Phil Innes, STTMP
The Hippocampus, Vt.

*long story

Phil Innes makes CPA jokes and ridicules chess players.

I just want to let you know that Phil Innes last appeared at a rated
chess tournament in 1995, which is 12 years ago, and his competence
and abilities at the game of chess is unknown.

I have offered to play Phil Innes a chess match for one thousand
dollars cash money and he has declined, even though I am not even a
rated master and he claims to be "nearly an IM".

Sam Sloan