News: In case some of you have forgotten, please go back and read the agreement you signed before registering on this board.   Continuous attacks on an individual, including revealing who you think a person is or sending Private Messages with threats and attacks, are grounds for removal from the registration listing.  If you can't be civil, go someplace else. Don't discredit your education by showing your "thug" personality.

Author Topic: MEAC Lost $1.8 Million Between 2017-18  (Read 611 times)

Offline JAG89

  • Assistant GM
  • *****
  • Posts: 2,116
  • Karma: +33/-0
    • View Profile
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

  • Assistant GM
  • *****
  • Posts: 3,232
  • Karma: +1/-0
    • View Profile
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

  • Assistant GM
  • *****
  • Posts: 2,116
  • Karma: +33/-0
    • View Profile
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

  • Assistant GM
  • *****
  • Posts: 16,371
  • Karma: +16/-1
    • View Profile
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

  • Assistant GM
  • *****
  • Posts: 24,825
  • Karma: +119/-297
    • View Profile
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 »
Trying to light Que82 up like a 4th of July firecracker


Offline JAG89

  • Assistant GM
  • *****
  • Posts: 2,116
  • Karma: +33/-0
    • View Profile
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

  • Assistant GM
  • *****
  • Posts: 24,825
  • Karma: +119/-297
    • View Profile
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 »
Trying to light Que82 up like a 4th of July firecracker


Offline eagle pride

  • Assistant GM
  • *****
  • Posts: 16,919
  • Karma: +15/-8
  • Veteran
    • View Profile
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!

 

Onnidan's HBCUSports Logo
News

 

Support Onnidan

Support the Fan Forum

With all the divisive rhetoric on social media outlets, websites such as ours, especially message boards, are under the watchful eye of the Internet giants. And those giants are coming down hard on sites like this one due to the perception of the need for better "oversight".

We recognize the cultural conflict that exists and over the past few months we've been accused of allowing content in posts/threads that supposedly violates some advertiser's policies. Those threads weren’t an issue in the past, but for some reason, they are an issue now. And we are being penalized (financially) because of it.

As a result we are coming to you directly for your financial support.

The pandemic has financial consequences, especially for Black-owned businesses. Ad revenue is shrinking so we are asking you directly for your financial support. You can use the Cash App and contribute to $onnidan or process your donation through Square

 

 


Tip the Owl

Powered by EzPortal