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ATA Financial Statement year ended 2009

Discussion in 'Shooting Related Threads' started by Dr.Longshot, Apr 13, 2012.

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  1. Dr.Longshot

    Dr.Longshot Banned

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  2. perga1

    perga1 TS Member

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    So why did the EC incease fees? Just because it hasn't happened in a while is not a good answer. JRM
  3. jim brown

    jim brown Active Member

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    You need a hobby. Did you ever try shooting?


    jim brown
  4. running bear

    running bear Member

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    Dr. Longsh?t,

    Don't you know the stock market was way down because of the Econmy? For Someone who olny shot a total of 1,000 targets last year, 3oo, 16 yd., and 7,00 handicap you sure bitch a lot.

    Buck
  5. Dr.Longshot

    Dr.Longshot Banned

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    The report says that the ATA invested in banks sums of money that were not protected, Insured for only $100,000, and they deposited $200,000 the Auditor noted this, and then some of the FDIC went to $200,000 and this is where the funds should have been deposited, This was noted by the Auditor read the financial statement.

    And Auditor noted that the ATA was not using sound financial practices, per state guidelines and financial practices.

    This was brought to the attention of Frank Rively before his demise from ATA
    when he mentioned it. It was brought to his attention by the gals in the ATA Office.

    GB
    DLS
  6. goatskin

    goatskin TS Member

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    Longshorts ... your amazingly bitter silliness is exceeded only by your lack of reading comprehension.

    The auditor said no such thing, and it is a waste of pixels to attempt to school you on FDIC.

    And your writing 'Loss' alongside unripe corporate bonds? madness.

    go reload ... go shoot ... quit trying to read, cipher and type.

    Dave Berlet asked you a question on the long thread. Take a poke at answering him.

    Bob
  7. SPACE GUN

    SPACE GUN Member

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    $29,000.00 in target-shell and GUN inventory? I might understand the target thing but shells and GUN, Why would the ATA need shells and guns? One other question how much does Lynn Gibson make from the ATA? Enough to move to Sparta or does the ATA provide moving expenses along with his salary?
  8. BigM-Perazzi

    BigM-Perazzi Well-Known Member

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    Somebody shit on the forum floor. Janitor! Janitor...
  9. spitter

    spitter Active Member

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    Geez... I wish my net assets increased in excess of 10% from '08-'09... Couple questionable items, but I'm happy otherwise...

    jay
  10. 870

    870 Active Member

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    LS, Goatskin is right, but I will tell you what that really says so that others don't read your ravings and think there is something to it.

    What the report says is that at each of the two year ends shown, the ATA had cash in banks in excess of the FDIC insured limits. This is a very common disclosure that is required in financial statements. Considering there was over 1.6 million at 9/30/09, would you really expect them to be keeping up banking relationships with 7 or 8 banks?

    "Some" of the FDIC didn't go to $200,000, it all went to $250,000, and the auditor made absolutely no indication the ATA should haved moved anything, anywhere, nor should they have.

    Regarding the last part of your post, you are talking about somthing that is not in the report you posted. Not having seen it, all I can tell you is that again, it is a report required to be issued in just about every audit, and it is also very common for shortcomings in financial controls to be included for most small businesses.

    Was that you that marked the report up? Certainly was someone just itching to find fault that had no idea what they were reading, but I don't take you for a guy that would sit down with the report, a ruler and a pencil like that.
  11. goatskin

    goatskin TS Member

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    870, Longshort missed the only term of significance - unsurprising, really - in his search for his ghost turds ... "we expressed an unqualified opinion ..." 98% of the Brady Ware text is standard-form boilerplate ... THAT phrase is significant.

    It should be, likewise, unsurprising that LS knows a fractional (and mostly incorrect) amount of Frank Rively's exploration of financial matters: to wit, Garry Sherrod approved/encouraged Rively to consult with both ATA Accounting staff and Bob Glatz (and Galtz' series of governance and financial observations and recommendations vis-a-vis 501(c)(3) changes.)

    Like you, I'm sure, the biggest question *EYE* have abt cash-on-hand is WHY IS THERE SO DAMN MUCH OF IT? WHY ISN'T ANY CASH EXCESS-TO-NEEDS GIVEN OVER TO BULKEY TO INVEST??

    LongShort, I'll give you a small hint ... if you think there is monkey bidness going on, it is always hidden in 'General and Administrative' and is 'hidden' in plain sight in small words.

    annnd ... you can bet your red OSU sweatshirt that BigDON is going to capture, that Brady Ware knows alllllll about G&A, and did not ignore it. In fact, I'll bet GW spent more than twice as much time in G&A than they did on legal, financial, and management practices.

    damn you 870, I was not going to waste any more fingerprints on LongShort.

    Bob
  12. 870

    870 Active Member

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    Not following the first comment, but an "unqualified opinion" is as good as it gets in an audit. "Qualified" opinions are more rare since the auditor usually withdraws form the job first if things are that bad. I think you know this and I'm tired, so I'm probably missing something here.
  13. goatskin

    goatskin TS Member

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    870, yup you got the first phrase and the gist down perfect.

    I've seen a lot of 'qualified' opinions, but they are mostly dealing with effects of legal or regulatory matters.

    This is a simple, straightforward, clean, small-business audit with no footnotes that make you say, 'hmmmmm.'
  14. 221

    221 Well-Known Member

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    So what is the ATA/ATAA plans for their ballooning war chest.....They are experiencing record financial growth all while evading paying taxes.

    So whats their plan for all that money.....someone needs to get to the bottom of that. Their charitable status is a joke. Charity's are for the most part are money making schemes.

    They are riding on the backs of the taxpayers of IL......when and how do they plan to thank those that are giving them a free ride??????????????????????????????

    Like the old saying "figures don't lie, but liars figure"
  15. goatskin

    goatskin TS Member

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    221, yep, there IS that.

    I'm not sure abt penny-accurate regs these days, but I <i>think</i> ATA is bound to give 5 or 6% of ... total assets? total available assets? (some term of art) annually in support of their charitable mission(s).

    Of course it is a dodge - few C3 are not.
  16. 221

    221 Well-Known Member

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    Giving.....NO,,,, american taxpayers are giving that 100,000.00. Most cannot comprehend how that works....just like the other donations, The contributor rarely ever takes that cash out of his pocket.

    I'd give my left nut to get away with 10% growth for a 5% contribution.
  17. goatskin

    goatskin TS Member

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    It's not clear the 100K added money the ATA is fronting is a charitable contribution, while it is clear the Martin's 350K receives favorable tax treatment, or some of it does, anyhow.

    Regardless, any ATA tax favoritism is capped at 35%, meaning if ATA was a general corp, their headline tax rate would be 35% ... still a substantial figure, but not as impressive as a 100% writeoff.

    But, yeah, the various forms of Non-Profit orgs and their tax-advantaged take is pity.
  18. 221

    221 Well-Known Member

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    Anyone interested in seeing extreme case of charity abuse, should drop by the Battelle Institute in Columbus, OH. That non profit, tax exempt , charity, only has income of 5 BILLION a year. Yep that's with a "B" Then walk in and see if they will help with your new shell carrier invention, that has design issues.

    That 100k, I would say no, because its to be added to the adult shooters,,,,(yes-no), as far as I know the charity is the AIM program....Notice most charities are old guys claiming to be concerned with children......they use children to avoid taxes.

    BTW is not a large portion of all the donated and added money really going to the gambling division.

    All charities need to be dissolved and let them operate like every other business.

    With the gambling going on I'm surprised that the legitimate casinos do not demand equal status.
  19. 221

    221 Well-Known Member

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    fla, because once your granted tax-exempt status you, use the tax paying folks money. Then they divert the tax burden on, to the schmuck that wins it.

    Everyone of us takes it in the rear every time one of these crafty organizations pulls this scam off.

    It's no better than your neighbor living it high while collecting on 2-3 phony disability's, while collecting welfare, child assistance money, food stamps, running a gun running scam under the table, while collecting a tax refund with never paying any taxes.etc,etc,etc,

    ARE YOU STARTING TO GET IT YET< FLA?????????????????

    Excuse my apparent insolence, but I just signed the outrageous checks to the various tax collectors....most of you cannot comprehend the stress of that.
  20. spitter

    spitter Active Member

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    What a bunch of ingrates...

    The ATA appears to be managing its money pretty well... maybe that's compounding the reason for a lax marketing effort, but if I had the dough they had and was managing it as they have, I'd be pretty damn proud of the effort...

    On top of that they managed to successfully qualify as a tax-deductible entity and I get the benefit of taking a write-off for dollars I send to them... OMG... bad ATA, bad ATA - geez-louise!

    There is the other thread talking about saving a chunk of change by moving to Sparta... no ownership headaches, freedom to be as nimble as necessary... I wish I were cash flush and all I had was a bit of deductible rental expense right now...

    Of course, there are always the naysayers... maybe its jealousy.
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