Thursday, February 03, 2011

UPDATE: USA Swimming 2009 IRS Form 990 - Ten executives pulled in about $2.7-million in cumulative salaries!

Ten executives within the USA Swimming ranks cost the organization about $2.7-million in cumulative salaries expenditures. To grasp that amount, that would be like giving every single member on the 2008 USA Swimming National Olympic Team; (About 50-members), a $50,000 salary plus a $5,000 holiday bonus at the end of the year.

Well, I suggest they do that and so should you if you are a parent and sending them money each month! In fact, suggest scholarships too!

Not to pour some salt on the wound but if USA Swimming found it in their hearts to do what I suggest, that would leave the organization with more than $20-million dollars left over to actually spend on more important issues like furniture and stuff.

Let me explain, on Page-10 of the Form 990 called, 2009 Depreciation and Amortization Report - Unadjusted cost of basics: Furniture, fixtures, office furniture and equipment started out the year worth $861,174 but depreciated to $737,358 a year later.

That is a lot of furniture, I wonder what the cost breakdown per employee would be?

One has to imagine what the health of the sport would be like if USA Swimming spent at least 51% of their gross income on swimmers and swimming! I am doing the math and I don't see that percentage of income distribution asserting itself. I could be wrong, I am still looking into it.

10 comments:

Anonymous said...

That sounds like an interesting doc. Can you post the link?

I have to take exception to a few of your comments. If the 2.7mm includes taxes, etc., this translates into annual salary of 190k-200k each. This really isn't a level that gets my blood boiling.

Also, the furniture assets may include training equipment. If it does include training equipment, having "only" $1mm worth of equipment actually sounds shamefully low to me.

Tony Austin said...

You are so giving them the benefit of the doubt; I actually admire that, but I think you want to believe them because my allegations are seemingly so outrageous.

What if I told you that 2-people in that ten made 1-million of the $2.7 million and that one of those people made $731,581?

See this post: http://scaq.blogspot.com/2011/01/i-am-looking-at-usa-swimmings-2009-usas.html

Also, how many swimmers travel to Colorado Springs to go train and also how often?

I am unclear whether it is for equipment but this is a "non-profit that spent $1.7 million over a two year period on their websites.

Take a moment and let that sink it.

Websites do not cost hundreds-of- thousands-of-dollars to produce. I work in that business.

Send me an email telling me who you are and I will send the document to you.

Willy Wonky said...

Any way to pull the same information about U.S. Masters Swimming?

Tony Austin said...

Yes, It can be pulled.

However, I am waiting to see if a particular swimmer appeal to the USMS board of review is decided fairly. If not, I scrutinize the organization like I did FINA and USA Swimming.


Tony

surfer said...

Have you been to colorado springs and seen the new office building they are building on main street. Thems is going to be some nice digs!

Tony Austin said...

Surfer: I am going to put their form 990 online in the next day or two - I wonder what the non-profit laws in Colorado are like? I can't believe that it is legal for a non profit to gain such riches at the expense of the subject of their non-profit, the swimmers, who get so little support from the non-profit they pay into.

Anonymous said...

So your "friend" can't win the appeal on the merits of the case, so you have to stoop to blackmail? Wow. Disgusting.

Tony Austin said...

You're commenting on the post, darling.

Anonymous said...

Darling? Sorry I'm not that type of guy.

Tony Austin said...

Well, this post is about a form 990 and you are typing up trash about some appeal - Both your comments are irrelevant. So, while you question my sexuality, I suppose I can question your competence... Darling!