Likes pretty much everything in every caliber.
Thanks, very interesting. Not a USPSA member, not an accountant, but interested in thoughts of those that might be (both).
Page 3, Assets, looks like went down $800k year on year, 21 to 22. Does that reflect the economy, in general, perhaps?
Page 4, Support and Revenue seems to be driven by a quarter Million in losses from "Investment Return" in 22. I think a lot of us lost investment in 2022, no?
Page 5, Expenses: Match expenses were up $200K, similar to travel, which increased by 1/3. Curious what "Misc" was and why it dropped 70k. Advertising almost doubled, which seems weird.
Page 6, a loss of 1/3 of your cash and cash equivalent year on year ($500k) doesn't seem like a good result, really. Maybe this had to go to cover the Expenses.
Page 8 shows a significant change in investment strategy, between CDs and domestic equity mutuals in '21 over to heavily into bond mutual funds. Given the significant loss in assets on page 3, looks like this was not a brilliant move?
Originally Posted by RJ
"Not brilliant," is too kind.
It was dumb, and even a little bit of actual study in investing could have avoided this. Maybe they could have followed the guidance from Buffett, Bogle, etc.
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"Whom shall I send, and who will go for us?" Then I said, "Here I am. Send me." - Isaiah 6:8
It's easy to complain. So I won't without further information. But I would really like to know how they are spending over 10% of the income on travel expenses.
"Shooting is 90% mental. The rest is in your head." -Nils
Obviously he has an axe to grind, but still.
Glad I watched to the end. I actually came to the same conclusion as Stoeger about a life membership. I had considered doing it for a while, and the planned dues increase was pushing me that way, but . . . now that the latest financial data is out I have concerns over whether the organization can survive financially, and like Stoeger I think drop more money into the organization now is "rewarding bad behavior."
I have one more year left on three year plan, and will switch back to annual, when it's time to renew.
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"Whom shall I send, and who will go for us?" Then I said, "Here I am. Send me." - Isaiah 6:8
With the big increase, their shenanigans, and the fact that I mostly shoot IDPA now, I don't think I am going to renew at all. A local club has dropped USPSA and is going to try that PCSL and I might give that a go
Accidental double tap.
I think of it the other way.
Will they last another 10 years? Probably.
Is it rewarding bad behavior? I’m leaning no because they rolled back their price increase on the lifetime membership. So I am rewarding GOOD behavior in them letting us know that life will be more expensive later.
Plus, who knows how much more the annual will cost if they need more cash?
The organization has enough nationwide infrastructure that it won’t go belly up. It could cut out the magazine or all nationals for a year.
Plus USPSA could get absorbed back into worldwide IPSC so I think it’ll be around in some fashion for 10 years.
Posting from mobile so it's hard to check but I thought the magazine is a net gain from advertising? Also the org is required to hold at least one nationals. They could still combine some so there's not five and save money though.
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