It was only a mere $439,193.11 loss. I am sure there have been many meetings to determine how to cut these losses, from the sight of the membership.
Obviously there are serious issues at hand, does anyone know if there are more detailed reports available that actually break down salaries, expenses paid and to whom?
Obviously there needs to be change
The 990s are available. What follows isn't directed at you, but is general info for those that aren't already aware of it.
If you've looked at the 990s from previous years the purchase of the new building stands out. If you read the corresponding minutes of board meetings you can see where some of that $$ was going, A/C repairs, other repairs.
If you go back to the loss of the Sam's Club series you'll see another cause for the change in financials. I'm not going to get into the finger pointing surrounding who/what was responsible because I wasn't in a position to know what really happened.
Membership is dropping. I think some of it is due to higher costs to compete, frustration with the organization, and natural attrition after a spike in popularity due to TV exposure. I'm sure there are other causes as well.
The financials disclosed are probably pretty sobering to some. To be honest, I expected them to be worse.
For those that are relatively new to KCBS, ask those that you know that have been around 10+ years if they can remember a disclosure like this ever being made. I'll give credit to the CEO and the board for doing it. They knew what the perception of the numbers would be when they did it, and what they'd have to deal with after the fact.
Happy Thanksgiving to all!
I let my membership go a few years ago, but still follow events and such. I can’t get to the financial report, but I do have a question... THEY OWN THE BUILDING ON MADISON IN KCMO??? That makes no sense to me. I used to work in that building until DST Output/DST Realty sold it in late 2000’s. The remodel looks great from the outside (haven’t been inside) and it probably wasn’t cheap. Maybe I’m underestimating how big of an operation they have, but it just seems way too big. They were probably losing money on it the day after they moved in.
During a career in management and executive management I can't tell you how many times I have heard "more revenue"proposed as a solution to a bottom line problem. It's attractive because hypothetical revenue allows managers to postpone cost problems or pretend that they don't have cost problems at all.... KCBS has to bump up those revenue numbers. ...
I don't think we disagree, but a comment on the building sale: I don't know about KCBS specifically, but selling doesn't usually cut expenses unless the seller occupies significantly less space on a partial leaseback or the seller moves to cheaper quarters.... They are going to cut expenses through the sale of the building, so they are already starting on that. ...