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Author Topic: MEAC Lost $1.8 Million Between 2017-18  (Read 1425 times)

Offline JAG89

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #15 on: June 30, 2020, 04:58:23 PM »
???? I thought I heard Thomas said that the conference made a oayout to the school all 18 years he has been the commisioner.  Something is amiss. :shrug:

They probably did, but I'm sure some years were way way less than other years.

Offline Thinkingaboutit

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #16 on: June 30, 2020, 06:46:46 PM »
On top of that the title is misleading, if not outright a lie.  The MEAC didn't lose revenue; it increased expenses. Revenue actually went up.

You are correct, but why did the expenses increase by so much while the revenue basically stayed the same???  MEAC's revenue only increased by $183,795 while its expenses increased by $2,081,208, which resulted in a net loss of $1,897,413 between the two years.  This reminds me of a fraternity chapter I once was a member of in Lynchburg, VA.  They would spend $2,000 to have a fundraiser to only raise $1,500.  It really didn't make any sense to have a fundraiser with a net loss of $500. The title of the article should have been net losses instead of revenue when comparing 2017 to 2018.



Jaq, you have to consider the source.    It is like a tabloid.    :crazy: :crazy: :crazy: :crazy: :crazy:  You can't be sure with their research nor reports. 

Offline JAG89

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #17 on: June 30, 2020, 07:49:41 PM »
On top of that the title is misleading, if not outright a lie.  The MEAC didn't lose revenue; it increased expenses. Revenue actually went up.

You are correct, but why did the expenses increase by so much while the revenue basically stayed the same???  MEAC's revenue only increased by $183,795 while its expenses increased by $2,081,208, which resulted in a net loss of $1,897,413 between the two years.  This reminds me of a fraternity chapter I once was a member of in Lynchburg, VA.  They would spend $2,000 to have a fundraiser to only raise $1,500.  It really didn't make any sense to have a fundraiser with a net loss of $500. The title of the article should have been net losses instead of revenue when comparing 2017 to 2018.



Jaq, you have to consider the source.    It is like a tabloid.    :crazy: :crazy: :crazy: :crazy: :crazy:  You can't be sure with their research nor reports.

To be fair, I got those numbers from the tax returns that they provided, assuming that the tax information is correct.

Offline WileECoyote06

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #18 on: June 30, 2020, 08:09:49 PM »
On top of that the title is misleading, if not outright a lie.  The MEAC didn't lose revenue; it increased expenses. Revenue actually went up.

You are correct, but why did the expenses increase by so much while the revenue basically stayed the same???  MEAC's revenue only increased by $183,795 while its expenses increased by $2,081,208, which resulted in a net loss of $1,897,413 between the two years.  This reminds me of a fraternity chapter I once was a member of in Lynchburg, VA.  They would spend $2,000 to have a fundraiser to only raise $1,500.  It really didn't make any sense to have a fundraiser with a net loss of $500. The title of the article should have been net losses instead of revenue when comparing 2017 to 2018.

I'm not sure why the expenses increased; but that's not necessarily a cause for alarm.  The MEAC paid off it's mortgage in 2018.  So maybe that's it.

Offline Que82

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #19 on: July 01, 2020, 12:15:34 AM »
???? I thought I heard Thomas said that the conference made a oayout to the school all 18 years he has been the commisioner.  Something is amiss. :shrug:

They probably did, but I'm sure some years were way way less than other years.
Well maybe its the terminology because to me if you lost 1.8 mil in one year I'm thinking you are in the red for that year.  How then do you give a payout????  Wouldn't you have to be in the black in order to give any size payout???? :shrug:
« Last Edit: July 01, 2020, 12:17:28 AM by Que82 »
SIAC Champs FB 7, CC 7, MBB 9 BB 2, MTF 3, WBB 2,  SWAC Champs FB 2, MT 1 NCAA DII Nat Champs Men's Soccer '77 & '79, D2 Nat Champs Women's Indoor Track '92 Women's Outdoor Track '92 &'93. HBCU Nat FB Champs 1, Swimming and Diving Champs 6

Offline JAG89

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #20 on: July 01, 2020, 07:08:45 AM »
???? I thought I heard Thomas said that the conference made a oayout to the school all 18 years he has been the commisioner.  Something is amiss. :shrug:

They probably did, but I'm sure some years were way way less than other years.
Well maybe its the terminology because to me if you lost 1.8 mil in one year I'm thinking you are in the red for that year.  How then do you give a payout????  Wouldn't you have to be in the black in order to give any size payout???? :shrug:

The losses in this case pertains to how much revenue minus expenses that they made the previous year versus the revenue minus expenses that they made the current.  Both years they were in the black, but the current year revenue minus expenses were substantially less than the previous year revenue minus expenses.  The losses is based on a comparable analysis, which means that they had substantially less money to distribute to its member institutions in the current year than they had the previous year, which would be a loss in revenue for MEAC schools.  For example, instead of each school getting $1 million from the conference office as in the previous year, they only received $100k in the current year, which means the revenue from the conference office decreased by $900k or by 90% for each school in the current year.  In other words, that would be a substantial loss in revenue for each member school in the MEAC.

Offline Que82

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #21 on: July 01, 2020, 12:45:35 PM »
???? I thought I heard Thomas said that the conference made a oayout to the school all 18 years he has been the commisioner.  Something is amiss. :shrug:

They probably did, but I'm sure some years were way way less than other years.
Well maybe its the terminology because to me if you lost 1.8 mil in one year I'm thinking you are in the red for that year.  How then do you give a payout????  Wouldn't you have to be in the black in order to give any size payout???? :shrug:

The losses in this case pertains to how much revenue minus expenses that they made the previous year versus the revenue minus expenses that they made the current.  Both years they were in the black, but the current year revenue minus expenses were substantially less than the previous year revenue minus expenses.  The losses is based on a comparable analysis, which means that they had substantially less money to distribute to its member institutions in the current year than they had the previous year, which would be a loss in revenue for MEAC schools.  For example, instead of each school getting $1 million from the conference office as in the previous year, they only received $100k in the current year, which means the revenue from the conference office decreased by $900k or by 90% for each school in the current year.  In other words, that would be a substantial loss in revenue for each member school in the MEAC.
I see what you are saying but that sounds more like it should be called a reduction rather than a loss. :shrug: They had more expenses that ate up their revenue which led to a reduction in the payout. If my light bill was $100 a month but now its $100 higher I don't consider that a lost in wages I just have less money at the end of the month.  But hey to-may-to, to-mar-to.  :shrug:
« Last Edit: July 01, 2020, 12:54:54 PM by Que82 »
SIAC Champs FB 7, CC 7, MBB 9 BB 2, MTF 3, WBB 2,  SWAC Champs FB 2, MT 1 NCAA DII Nat Champs Men's Soccer '77 & '79, D2 Nat Champs Women's Indoor Track '92 Women's Outdoor Track '92 &'93. HBCU Nat FB Champs 1, Swimming and Diving Champs 6

Offline eagle pride

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Re: MEAC Lost $1.8 Million Between 2017-18
« Reply #22 on: July 01, 2020, 02:01:56 PM »
???? I thought I heard Thomas said that the conference made a oayout to the school all 18 years he has been the commisioner.  Something is amiss. :shrug:

They probably did, but I'm sure some years were way way less than other years.
Well maybe its the terminology because to me if you lost 1.8 mil in one year I'm thinking you are in the red for that year.  How then do you give a payout????  Wouldn't you have to be in the black in order to give any size payout???? :shrug:

The losses in this case pertains to how much revenue minus expenses that they made the previous year versus the revenue minus expenses that they made the current.  Both years they were in the black, but the current year revenue minus expenses were substantially less than the previous year revenue minus expenses.  The losses is based on a comparable analysis, which means that they had substantially less money to distribute to its member institutions in the current year than they had the previous year, which would be a loss in revenue for MEAC schools.  For example, instead of each school getting $1 million from the conference office as in the previous year, they only received $100k in the current year, which means the revenue from the conference office decreased by $900k or by 90% for each school in the current year.  In other words, that would be a substantial loss in revenue for each member school in the MEAC.
I see what you are saying but that sounds more like it should be called a reduction rather than a loss. :shrug: They had more expenses that ate up their revenue which led to a reduction in the payout. If my light bill was $100 a month but now its $100 higher I don't consider that a lost in wages I just have less money at the end of the month.  But hey to-may-to, to-mar-to.  :shrug:


That is why I stated that this topic is misleading.  I believe that was the year the MEAC paid off their building.  At any rate, we are moving forward! 
Whether great or small, victory is victory!

 

 

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