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Post by donsreelsports on Jul 7, 2009 20:26:41 GMT -5
First of all thank you all for the nice welcome--and to all, especially Capt. Tony---the link to my column is www.samsgoodnews.com and my e-mail is donsreelsports@comcast.net. I have been asking these questions for over two years now and getting nowhere. I have always believed that far too little of the revenues generated by this "lottery tournament" are returned to both the anglers AND the state and I have stated this numerous times, some pretty vocally, much to the dismay of the LCI board and Mr. Ehlers. I have taken the view as an individual taxpayer and licenseholder that along with all others in my class, WE are the owners of the resource called Lake Champlain. WE pay for the fish--WE pay for the enforcement--WE pay for everything associated with the STATE costs to provide this resource. That being the case, WE should recoup many many more dollars from this tournament than we are at present. The fact that we aren't is due to a number of factors, but it makes me feel, individually, that I am being deceived by the advertising that states all the great things that LCI is doing for this state. I have no qualms at all about giving all credit that is due to the LCI for good work. That is NOT the issue. The issue, to me, is one of scope and of dollar return for dollar expended. I asked the LCI lawyer, Frank Petrocino, for a copy of the 2008 tax filing and he sent me one. I am still waiting for a couple of answers to questions about some of the numbers and when (and if) I get them, I will share them with you also. But for now (this is getting a bit long) last year's numbers show that the total revenue for the LCI was $433,008. Out of that total, the prize payout was $95,070 or 21%. In this same year, Mr. Ehlers compensation was $69,827 which is 16%, and that does not include travel, expenses, or any other perks which are not that readily available, nor does it include any advertising revenue to Outdoor Magazine which is owned by Elk Publishing, a company owned by Ehlers. The Net fund balance at the end of that year was $233,491. It also appears that the State of Vermont has appropriated funds and donated them to the LCI, though I have not fully confirmed that, and it would be strange, indeed, with that healthy a fund balance, that the state would be giving them any money. I think there is fully enough here for comment and question----have at it!!!!!I will bet there are fewer than 100 people in the whole state that know the figures you see above!!!!
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Post by An Bradon Charters on Jul 7, 2009 21:00:32 GMT -5
Don, Wow!! There certainly is allot of information there. THANK YOU!! I am looking forward to more information when you get it. I am sure I will have more to comment on after I re read your post and ingest the information. Thanks again for posting what you have received so far. Capt. Tony www.anbradoncharters.com
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Post by dragnballs(Kevin) on Jul 8, 2009 4:22:38 GMT -5
well done Don!I'm sure that your info will suprise a lot of people here. Thanks for your work on this issue.
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Post by fishinmachine on Jul 8, 2009 4:50:28 GMT -5
don, good work . my question is , does the lci really support the lake champlain fishery or not financially? do they contribute to things like the lamprey program or not , and if they do then how much money from that 433,000 dollars actually goes to support the lake?
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Post by Goldie Lox on Jul 8, 2009 8:12:50 GMT -5
Nice report Don. It seems like more money should be going to the prize fund.
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Post by donsreelsports on Jul 8, 2009 8:47:57 GMT -5
I want to make it very clear that even though I have my own very opinionated view of the LCI, there are much more important issues here. I have always believed that the more information one has, the better equipped one is to form ANY opinion. It seems very strange, to me, that having control of a publication such as Outdoor Magazine and not releasing this kind of information to the sporting public only can create more attitudes of distrust and the answer is so simple. Just give out the information so that the public can judge based of the facts---not suposition. I have asked the LCI board member (and lawyer) two times now (I will try a third) to provide a list of the FINANCIAL CONTRIBUTIONS that LCI made in the last fiscal year. That, to me, would not seem to be such a daunting request---especially since my only purpose in having this information would be to inform the sporting public of just how valuable the LCI is to the resource. I have the form 990 in front of me and nowhere in the 22 pages of financial data can I find that information. Like I said, at the end of their last fiscal year they had $223,491 in the coffers!!! that seems like one heck of a war chest for a group designed to conduct derbies!!!! Why do they need to "RETAIN" that kind of money? I could care less what "other derbies" cost. it is expensive enough to fish out of a boat in the first place, and anyone can have as much fun just fishing and having a helathy "side bet" with some friends. I honestly believe that most of us fish the LCI on the "chance" that one might get lucky like the young fella and "win" $28,000 or more-----just like buying a lottery ticket---and also for the greater goal of CHARITABLY HELPING OUT THE RESOURCE---LAKE CHAMPLAIN-- that we all love. Well, sportspeople----I am just sceptical enough to want some proof as to how much of our money is going to that goal---and I think that a lot of you are feeling the same way.
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Post by bomber on Jul 8, 2009 9:18:44 GMT -5
Don, I feel the same way as you and lots of others. We are for the LCI 100 percent but think that some accounting of the money is necessary.
Why does it have to be a secret.
Appreciate your work and report. I say keep on pushing until they provide the information. This information is open to the public.
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Post by Dockside (Ben) on Jul 8, 2009 10:10:35 GMT -5
The power of free speech..... priceless!
Thank you Don
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Post by fishinmachine on Jul 8, 2009 10:34:21 GMT -5
yea bomber!!!!
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Post by lazybones on Jul 8, 2009 11:56:53 GMT -5
Holy crap!
Subtracting the salary, prize payouts and booked "profits" only 35k was needed for everything else? Marketing, logistics etc.
Does that 69k in salary get a return of a fulltime+ employee?
Does the LCI pay taxes on the 230k they are earning interest on?
Thank you for the information.
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Post by ajsoma on Jul 8, 2009 12:29:39 GMT -5
Great Job Don...thanks a lot. You are taking all the questions we have and ttaking them to the next level and looking for the proof.
Question: "Of that 95K paid out in prizes is that what the LCI paid for them, or is that wht they say they paid out. For example was the junk that was donated that supposedly was 2,000 dollars worth of merchandise (that we wouldn't pay 5 bucks for) included in that amount?
thanks again don
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Post by dragnballs(Kevin) on Jul 8, 2009 12:57:17 GMT -5
lazybones, if they have a 501c3 non for profit designation they don't pay any taxes on any interest. I say this as I am the president of the Washington county fair and we have that classifacation like all non profits do
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Post by ajsoma on Jul 8, 2009 12:58:59 GMT -5
For me, it is expensive when you don't know where the money is going, if i knew the money was going to lamprey control, hell, i would pay 80 bucks for a single registration.
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Post by donsreelsports on Jul 8, 2009 14:46:43 GMT -5
Answers to questions----They are non-profit so NO they do not pay taxes on that money. Yes, Mr. Ehlers must pay taxes on his salary,which, along with the director, Mr. Galipeau, are the only ones paid that are NAMED in the report. the report also says that the "hours per week" of Ehlers is 40 and Galipeau is 2. Galipeau is the Director and his salary is $16,771. That was for the fiscal year ending Sept. 30, 2008. As far as the $95,000 in prizes--it appears in a cash column so I am assuming that it represents actual Money paid out, not IN-KIND, prizes, but I do not know that for sure. and ajsoma---you are right on!!!!! and if they are so damn proud of ALL that they are returning to the resource---you would think that they would be printing it right there in the Outdoor Magazine for all to see and quelling this mini-rebellion in its infancy. How come? ?
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Post by fishinmachine on Jul 9, 2009 5:30:16 GMT -5
I am surprised that with all the comments on this forum by so many interested forum members that we have heard nothing from the LCI , YET.why is that?
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