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re: How much money do you think some krewe leaders are pocketing?
Posted on 2/27/17 at 9:40 am to pjab
Posted on 2/27/17 at 9:40 am to pjab
quote:How does this answer the OP's question?
I think it's more of being compensated for their efforts. I write a check then I'm done. I don't have to go to the store for beads, bring them to the float, handle transportation, etc. Could I handle all the logistics myself to save a few dollars, sure. I agree with the price for the services rendered.
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Posted on 2/27/17 at 9:44 am to Cosmo
I know nothing about the organization's handling of money. But one thing that hasn't been brought up is insurance. I would imagine that the insurance is astronomical. If the parade gets canceled do the riders just lose their money that has already been spent? Injuries?
Posted on 2/27/17 at 9:50 am to Cosmo
Posted on 2/27/17 at 9:56 am to Cosmo
You can probably look up their financial statement on guidestar.org.
FWIW nonprofits can make a profit, pay their leaders exorbitant amounts, etc. just like a for-profit can. The difference is that you can't get a slice of the profits as an outside investor.
ETA - I see t00f already got your back on this.
FWIW nonprofits can make a profit, pay their leaders exorbitant amounts, etc. just like a for-profit can. The difference is that you can't get a slice of the profits as an outside investor.
ETA - I see t00f already got your back on this.
This post was edited on 2/27/17 at 10:09 am
Posted on 2/27/17 at 10:14 am to Athis
quote:
But one thing that hasn't been brought up is insurance. I would imagine that the insurance is astronomical.
The cost of this is probably passed along to the members of the krewe in their dues. I help organize and run a parade in a smaller town outside of New Orleans, and a $1,000,000 liability policy runs just north of $10K for just that 3-4 hour period. But when you spread that across the hundreds of people who are riding on the floats, it's manageable. I'd assume a parade like Endymion or Bacchus might be a little more, but I doubt it's much more. The insurance company doesn't ask us about the size of floats or the number of them or anything like that as far as I'm aware.
quote:
If the parade gets canceled do the riders just lose their money that has already been spent?
There's a clause in our float riders contract that states no refunds. However, we've never had to deal with a cancellation, so I'm not sure what we'd actually do. Our riders aren't members of a krewe though.
Posted on 2/27/17 at 10:36 am to Cosmo
quote:
I know they are non profit "social clubs" but you know the higher ups in Endymion, Bacchus etc have to be pocketing something.
Not all krewes are non profit, some are businesses.
Posted on 2/27/17 at 11:26 am to WPBTiger
Correct. The Brennan family owns either Bacchus or Endymion. Can't remember which one and they make a profit off of it. The budget for Bacchus this year was $5.1 million.
Posted on 2/27/17 at 11:32 am to Cosmo
Endymion's money gets put back into the krewe.. You can clearly see the improvements and upgrades we have each year... We were on a new float this year...
Now as far as products ordered, it's through Beads By the Dozen, and the Krewe's president owns it.. So I don't know about that...
Now as far as products ordered, it's through Beads By the Dozen, and the Krewe's president owns it.. So I don't know about that...
This post was edited on 2/27/17 at 11:34 am
Posted on 2/27/17 at 11:33 am to jbgleason
Bacchus
and Pip Brennan resigned after that big scandal a few years ago... Where their dues increased 45% and had nothing to show for it... The next year, they suddenly built their own den...
and Pip Brennan resigned after that big scandal a few years ago... Where their dues increased 45% and had nothing to show for it... The next year, they suddenly built their own den...
This post was edited on 2/27/17 at 11:37 am
Posted on 2/27/17 at 12:39 pm to WPBTiger
quote:
Not all krewes are non profit, some are businesses.
Nonprofits are businesses, there's nothing at all restricting them not to be.
Posted on 2/27/17 at 12:41 pm to Hangover Haven
quote:
Now as far as products ordered, it's through Beads By the Dozen, and the Krewe's president owns it.
Not surprising. I was just looking through the link t00f provided and it shows zero compensation to the executives but they spend a gawdawful amount on beads and stuff and it doesn't surprise me at all if it gets funneled through companies owned by the top brass.
Hell, given the amounts involved I'd just start a company myself so I could give it the extra business.
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