[JPL] IAJE - Financial's

Dr. Jazz drjazz at drjazz.com
Sun Apr 20 11:50:56 EDT 2008


Tom,
6 figure deficits extend back to at least 2003 if not earlier.  Chuck 
Owen's letter stated that the Board was "Blindsided".  Sorry, but the 
Board was BLIND!  They had to sign off on the tax forms and budgets.  It 
seems as though they didn't care.
-Dr.

TomtheJazzman wrote:
>
> In reviewing the Tax return for IAJE in 2006 I found some interesting 
> information.  They did take a big loss on financial investments, but 
> it was just over $20,000 and for a group with assets of 2 to 3 million 
> that is not a big hit.  They showed gross receipts of $2,575,941
>
> Payouts Included:
>
> Bill McFarlin     $109,764
> Steve Baker       $  84,014
> Gregory Carroll  $  84,014
> Susan Jenkins     $ 89,700
>
> Total                 $367.492
> /
> When I look at these salaries or contract fees I can't help but think 
> of the many Jazz Educators from the Public Schools to the University 
> level who would appreciate making $80,000 plus and then expenses.  And 
> then there are the musicians./
>
> Of course this does not include office staff and  their salaries or 
> expense accounts for the dollars spent by the Board which was sizable.
>
> Every day I am reading and seeing where large companies are losing 
> millions in their quarterly report and they continue on so I find it 
> puzzling that a NON-PROFIT and not report a loss and keep on working 
> toward their mission.
>
> There has to be something here that we are overlooking or are not 
> being told, especially Chapter 7 versus Chapter 11 or 13.
>
> ALOHA
> Tom
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