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Old March 20th 07, 02:25 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Default Great News about USCF Finances

[quote="Grant Perks"]
Quote:
Originally Posted by samsloan
Since Grant Perks claims to be
a CPA (I have not been able to obtain verification of this fact) it
would be kind of nice if he would tell us what happened to the two
million dollars that went missing while Grant Perks was occupying
various financial positions, including Chief Financial Officer of the
USCF, Executive Director of the USCF and House Accountant of the USCF.

Incidentally, Frank Niro often represented himself as being a CPA, but
we now know that this was not true.

Sam Sloan
Sloan, I am sure the readers of this forum
are getting tired of constantly hearing your repeated lies. During my
watch, fiscal year 2004 and fiscal year 2006 the USCF actually made
money. On the other hand, according to you the USCF has lost money
during your watch, the current fiscal year.
[/
quote]
First, I must tell you the GREAT NEWS.

The news is that the USCF had a SURPLUS for February.

The surplus (or profit) was $73, 459.

I could not tell the USCF Forums about this earlier, because I was
suspended from posting to the USCF Forums when this news came out.
(Naturally, being a Big-Shot Board Member I get the news much earlier
than you peons. (The Fake Sam Sloan will have a great time with that
one.)).

The reason this news is so good is that now were are ONLY losing
$168,223 for the year.

I realize that it seems strange that the fact that we are only losing
$168,223 would be good news.

If things keep up we might even be able to achieve Bill Goichberg's
goal of losing only $50,000 for the entire year!!!!

As to your question about the USCF losing big bucks on my watch, in
the first place, I only took office on August 13, 2006. The fiscal
year started on June 1, 2006. I have in my seven months in office
stopped many plans to give more money to friends-of-the-board. They
did not even dare to have another Winter Retreat in Florida at USCF
Expense with me on the board.

So, the $241,682 the board lost prior to February, 2007 was their
fault, whereas the $73,459 profit in February was, needless to say,
entirely because of me.

Sam Sloan

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Old March 20th 07, 02:37 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Posts: 417
Default Sam Sloan is a drug user

Great news thanks to Don Schultz, Bill Goichberg and Joel Channing. No
thanks to the slime ball Sam Sloan who stole money from the USCF to
feed his family and drug habit. Vote for Don Schultz to save the USCF.


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Old March 20th 07, 10:04 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Posts: 14,870
Default Great News about USCF Finances

On Mar 20, 10:25 am, "samsloan" wrote:
[quote="Grant Perks"]
Quote:
Originally Posted by samsloan
Since Grant Perks claims to be
a CPA (I have not been able to obtain verification of this fact) it
would be kind of nice if he would tell us what happened to the two
million dollars that went missing while Grant Perks was occupying
various financial positions, including Chief Financial Officer of the
USCF, Executive Director of the USCF and House Accountant of the USCF.

Incidentally, Frank Niro often represented himself as being a CPA, but
we now know that this was not true.

Sam Sloan

Sloan, I am sure the readers of this forum
are getting tired of constantly hearing your repeated lies. During my
watch, fiscal year 2004 and fiscal year 2006 the USCF actually made
money. On the other hand, according to you the USCF has lost money
during your watch, the current fiscal year.
[/
quote]
First, I must tell you the GREAT NEWS.

The news is that the USCF had a SURPLUS for February.

The surplus (or profit) was $73, 459.

I could not tell the USCF Forums about this earlier, because I was
suspended from posting to the USCF Forums when this news came out.
(Naturally, being a Big-Shot Board Member I get the news much earlier
than you peons. (The Fake Sam Sloan will have a great time with that
one.)).

The reason this news is so good is that now were are ONLY losing
$168,223 for the year.

I realize that it seems strange that the fact that we are only losing
$168,223 would be good news.

If things keep up we might even be able to achieve Bill Goichberg's
goal of losing only $50,000 for the entire year!!!!

As to your question about the USCF losing big bucks on my watch, in
the first place, I only took office on August 13, 2006. The fiscal
year started on June 1, 2006. I have in my seven months in office
stopped many plans to give more money to friends-of-the-board. They
did not even dare to have another Winter Retreat in Florida at USCF
Expense with me on the board.

So, the $241,682 the board lost prior to February, 2007 was their
fault, whereas the $73,459 profit in February was, needless to say,
entirely because of me.

Sam Sloan



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Old March 21st 07, 05:53 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Posts: 14,870
Default Great News about USCF Finances

I got news for you. The monthly financial reports which big shots like
me get to see but lowly peons like you cannot view yet are being kept
from you for your own good, because they are full of holes.

For example, the cash situation looks like it has improved greatly.
However, that is only because the "donation" of $50,000 received from
Frank Berry has been booked in as cash but there is no offsetting
debit. That $50,000 donation is not really a donation. It s to be used
to pay the prizes for the US Championship to be held May 15-23, 2007,
so that is not really our money.

Similarly, the $1000 we receive from people joining as life members is
being booked in as current income and is not being transferred over to
the LMA as it is supposed to be.

So, the reality seems to be that we did not have a surplus (or profit)
for February of $73,459 and we are not losing ONLY $168,223 for the
year.

We could be headed for an all time record loss, the mother of all
losses.

Here again, the weak minded board members are unwilling to take the
steps that obviously need quickly to be taken to rectify this
situation.

Sam Sloan

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Old March 21st 07, 06:32 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Default Great News about USCF Finances

Quote:
Originally Posted by joelchanning
You'll get our work product when it's ready. As
Orson Welles said, "We will distribute no work product before it's
time." You're stuck with me, at least until after the election, after
which I hope Randy Bauer will take over as VP Finance. He's more
diplomatic than I am. In the meanwhile, try to lighten up. This will
all be over in 50 years or so.

Joel
Are you really sure that you are going to last that long?

You told me during a break in Monrovia that if we come in with a big
year-end loss at the end of this fiscal year, you are going to resign.

That is what I think is going to happen and I intend to hold you to
that one.

Sam Sloan



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Old March 21st 07, 11:32 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Posts: 14,870
Default Great News about USCF Finances

Quote:
Originally Posted by Brian Lafferty
Quote:
Originally Posted by Grant Perks
Quote:
Originally Posted by nolan

As to 'transparency', please define EXACTLY what you mean, and then
point me to ANY OTHER national not-for-profit membership organization
which meets that definition.

I am 0-3 for finding any financial information on a national
non-profit, but I will keep looking. So far, I have struck out on the
American Institute of CPA's, the Institute of Internal Auditors, and
the Contract Bridge League.
ROTFLMAO!!!
How many of those organizations have lost two million dollars in the
last few years?

How many of them could be out of business with another big loss.

As long as we were profitable, nobody cared, but now we are tottering
on the bring of disaster plus the financial statements have a lot of
obvious mistakes in them, so we have to watch very carefully.

It seems that we did not pay the postage on Chess Life this month, so
that would seem to be another $30,000 unbooked loss.

Sam Sloan

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Old March 23rd 07, 12:46 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Default Great News about USCF Finances

Since when has Sad Sam demonstrated the least concern about
"confidentiality?" When he doesn't answer, its because he doesn't HAVE
an answer! Jerry Hanken


Jerry Hanken is well aware of what changes I believe must be made to
stop the terrible losses the USCF is suffering so far this year. It is
just that neither he nor his boss want to make these changes just
before the election.

Although right now the USCF is reported to be losing ONLY $168,000 so
far this fiscal year, I and several others who have studied the
financial statements believe that the real loss thus far is more in
the neighborhood of $300.000.

Sam Sloan

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Old April 5th 07, 03:29 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Default Great News about USCF Finances

Quote:
Originally Posted by Randy Bauer
Quote:
Originally Posted by DACP

Also, it was pointed out to me that in reality we have even a larger
loss. What is not inherently obvious here is that management has
"recognized" deferred life membership income this year for about
$104k. This isn't cash that we received. This is just a paper
transfer. Without it, our loss would be even greater.

Donna Alarie
Massachusetts Delegate
[/color]
You lost me there, Donna. I'm looking at the detailed P&L for
February and not seeing the $104k. The figure listed for Life
Membership revenue through February is a little under $87k, which is
similar to the figure listed for the previous fiscal year (almost $115
k; $87k is 75% of $115k, and we have 25% of the fiscal year left).
There is a little uptick in Sustaining Membership revenue (almost $29k
compared to almost $31k for the entirety of the previous fiscal year),
but I'm not seeing how this year's numbers are remarkably different
from last year's. Am I missing something? (which is asked in all
earnestness)
I will tell you what it is, as I understand it.

When a life member purchases his life membership and pays $1000, most
of that money is supposed to go into the LMA.

Then, the LMA assumes that the life member will live for 20 years.
Therefore, 1/20th of that money should be paid back to operations
every year.

Based upon this, the LMA is supposed to be paying $104,000 to
operations this year.

However, over the past seven years, operations has been borrowing
money from the LMA almost every year.

Therefore, the $104,000 the LMA is supposed to be paying this year
will not be paid in real money. Instead, the "debt" that operations
owes to the LMA will be reduced by $104,000.

So, that is why this money is called "fantasy money". It does not
exist.

The problem is that this $104,000 is apparently being booked in as
revenues. In other words, instead of losing $168,000 by the end of
February, we may be losing $272,000 in real money.

That raises the questions that Donna wants answered.

Sam Sloan

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Old April 5th 07, 04:27 PM posted to rec.games.chess.politics,rec.games.chess.misc,alt.chess,misc.legal,alt.accounting
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Default Great News about USCF Finances

Quote:
Originally Posted by Ron Suarez
So the long and the short of it is that the USCF
is doing better than it has done in the past but still is not to the
point where things are rosy.
Right. I agree!

There was one year that the USCF lost $500,000.

However, this year we are probably losing not much more then $300,000.

So we are doing better than in past years.

Congratulations to all!!

Sam Sloan

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