Some numbers from the last Canadian Closed

[Neil Frarey]

Re: Re : Some numbers from the last Canadian Closed

The CFC is a tiny organisation, with one employee. It shouldn't take an MBA to understand the financial statements.

For those many of us without an MBA, these are the basic nuimbers, from the Treasurer's report: http://www.chesscanada.info/forum/sh...surer-s-Report

Bob might not like this but here's what I'll call the Cole's Notes Version of the CFC 2015/16 Financial Year (amounts rounded to the nearest $250)

Net CFC Memberships Collected $43,000
CFC (& net FIDE) Rating Fees Collected $28,500
Donation from Chess Foundation $9,500
CMA (Book & Equipment Deal) $5,000

Revenue Total $86,000


Admin Expense $51,500
CFC Magazine $15,250
International Programs $6,000
FIDE Admin & Meeting Expenses $5,750
FIDE Titles / Licenses $2,500

Expenditure Total $81,000

Net Income $5,000

Fred McKim
CFC Treasurer 2015/16

Thanks John ...color of money, nice touch.

Who owns the Chess Foundation?
What is its purpose?

[John Coleman]

Re: Re : Some numbers from the last Canadian Closed

Actually not that hard to unravel if you have an MBA and taught finance at the university for five and a half years.

The CFC is a tiny organisation, with one employee. It shouldn't take an MBA to understand the financial statements.

For those many of us without an MBA, these are the basic nuimbers, from the Treasurer's report: http://www.chesscanada.info/forum/sh...surer-s-Report

Bob might not like this but here's what I'll call the Cole's Notes Version of the CFC 2015/16 Financial Year (amounts rounded to the nearest $250)

Net CFC Memberships Collected $43,000
CFC (& net FIDE) Rating Fees Collected $28,500
Donation from Chess Foundation $9,500
CMA (Book & Equipment Deal) $5,000

Revenue Total $86,000


Admin Expense $51,500
CFC Magazine $15,250
International Programs $6,000
FIDE Admin & Meeting Expenses $5,750
FIDE Titles / Licenses $2,500

Expenditure Total $81,000

Net Income $5,000

Fred McKim
CFC Treasurer 2015/16

[Vlad Drkulec]

Re: Re : Some numbers from the last Canadian Closed

The CFC financial statements are a labyrinth that has swallowed many good men. If you want to investigate, take a flashlight and a forensic accountant. Thumbscrews might also help.

The 2016 financial statements are here http://www.chess.ca/sites/default/files/FS2016a.pdf

Actually not that hard to unravel if you have an MBA and taught finance at the university for five and a half years.

[John Coleman]

Re: Re : Some numbers from the last Canadian Closed

The CFC financial statements are a labyrinth that has swallowed many good men. If you want to investigate, take a flashlight and a forensic accountant. Thumbscrews might also help.

The 2016 financial statements are here http://www.chess.ca/sites/default/files/FS2016a.pdf

[Vlad Drkulec]

Re: Re : Some numbers from the last Canadian Closed

You see? That's the problem. None of that information was made available to the public. All we hear about is that the FQE is sending 8 000$ a year to the CFC. And that the money is supposed to cover for expenses related to international events.

But now we learn that the expenses related to the Canadian closed might also come under that big 8k umbrella...

As I said, we don't really know how the money will be used. We just know the direction of the cash flow.

The cash flow is in both directions as the CFC pays for participation in world events like the Olympiad many of whose players are Quebec residents. The payments have not been 8k at any time during my tenure and certainly not recently. The payments appear in CFC financial statements and I'm sure they appear in FQE financial statements.

[Mathieu Cloutier]

Re: Re : Some numbers from the last Canadian Closed

In 2016, due to financial circumstances, the FQE agreed to provide $3000 in services as part of the FQE-CFC agreement. The last payment made in 2016 was for the 2015 partial year. Payments for 2017 have yet to be negotiated. The 2017 Canadian Closed will likely come under the umbrella of the services provided for the 2016 agreement. A significant portion of our expenses for the Olympiad have gone in support of players domiciled in Quebec.

You see? That's the problem. None of that information was made available to the public. All we hear about is that the FQE is sending 8 000$ a year to the CFC. And that the money is supposed to cover for expenses related to international events.

But now we learn that the expenses related to the Canadian closed might also come under that big 8k umbrella...

As I said, we don't really know how the money will be used. We just know the direction of the cash flow.

[Neil Frarey]

Re: Re : Some numbers from the last Canadian Closed

Most VM's have no interest whatsoever in posting here on CT.

Almost all of my postings are to provide some factual information to queries made by posters.

Can you post your criteria for funding tournaments ? Charlottetown just held the PEI Open this past weekend and we attracted players from 7 provinces (and one state). I don't usually blow my own horn this way, but there are all kinds of people associated with the CFC working the grass roots.

Here on CT there's a vibrant French community. Sharpe contrast with that of chess dot ca. And for good reason! Here on CT it is quite common for a topic to travel both communities and be active at the same time! For all its faults, CT is a common middle ground.

Congrats on the 2017 PEI Open! Glad you're pleased with your tournament. Was the Charlottetown Open Chess Tournament part of that?

There's a certain quality we look for when getting involved with a chess event, Fred. It shows itself as a gestural quality. Almost anyone can organize a chess tournament, but not that many can express the event in a gestural form. These gestural qualities are an extension of the organizer(s) ... and that is the criteria Society of Chess Aficionados are willing to support. Proud to support. Banff Open Wine & Cheese for example. Who does that sort of thing? That 'gestural quality' reflects on the tournament proper. So, the chess tournament proper may have 200 players or 20 players ...doesn't matter to us.

It's that human quality that matters.

Chess is more than a game of 1 | 0 | = ... Chess is an interface between two people.

I'm beginning to ramble.


peace.
n.

[Fred McKim]

Re: Re : Some numbers from the last Canadian Closed

I'm not going personally spend 1 direct dollar to support the current delinquent leadership of the Chess Federation of Canada, Fred. Not 1 dollar. Indirectly yes, such as SoCA's continued support for the awsum Banff Open and some other SoCA initiatives which yes, will indirectly benefit the CFC. But all of that is at a grass roots level ...my favorite!

So, I repeat in this thread:

If the majority of the VMs want me to run I'll grab a membership and stand for pres. Some of you reading this post are VMs ... get in touch with your fellow VMs and we'll all meet here on CT.

Question: Can DGT boards be leased/rented?
Answer: Something like ... http://chess2inspire.ca/Chess2Inspir...uipment-rental ...perhaps???

Fred, we both know full well the CFC is better than this reveiw:

"DGT equipment is not cheap. Considering the fact that this championship used paper boards and did not provide extra queens, you have to conclude that Canadian chess is in dire straits."


.

Most VM's have no interest whatsoever in posting here on CT.

Almost all of my postings are to provide some factual information to queries made by posters.

Can you post your criteria for funding tournaments ? Charlottetown just held the PEI Open this past weekend and we attracted players from 7 provinces (and one state). I don't usually blow my own horn this way, but there are all kinds of people associated with the CFC working the grass roots.

[Vlad Drkulec]

Re: Re : Some numbers from the last Canadian Closed

Care to explain to me in more details? I'm open to change my opinion on that issue.

In 2016, due to financial circumstances, the FQE agreed to provide $3000 in services as part of the FQE-CFC agreement. The last payment made in 2016 was for the 2015 partial year. Payments for 2017 have yet to be negotiated. The 2017 Canadian Closed will likely come under the umbrella of the services provided for the 2016 agreement. A significant portion of our expenses for the Olympiad have gone in support of players domiciled in Quebec.

[Neil Frarey]

Re: Re : Some numbers from the last Canadian Closed

Neil. Don't believe everything you read on CT.

As well, I don't know how you can be taken seriously as a candidate for CFC President, if you can't even be bothered being a member unless you decide you have enough support that you might have a chance of winning the election.

I'm not going personally spend 1 direct dollar to support the current delinquent leadership of the Chess Federation of Canada, Fred. Not 1 dollar. Indirectly yes, such as SoCA's continued support for the awsum Banff Open and some other SoCA initiatives which yes, will indirectly benefit the CFC. But all of that is at a grass roots level ...my favorite!

So, I repeat in this thread:

If the majority of the VMs want me to run I'll grab a membership and stand for pres. Some of you reading this post are VMs ... get in touch with your fellow VMs and we'll all meet here on CT.

Question: Can DGT boards be leased/rented?
Answer: Something like ... http://chess2inspire.ca/Chess2Inspir...uipment-rental ...perhaps???

Fred, we both know full well the CFC is better than this reveiw:

"DGT equipment is not cheap. Considering the fact that this championship used paper boards and did not provide extra queens, you have to conclude that Canadian chess is in dire straits."


.

[Fred McKim]

Re: Re : Some numbers from the last Canadian Closed

CFC leadership not only hustles the FQE for 8k a year but they (CFC) can't find a dime to support their own national event???

That's insane.

If it wasn't so pathetic ... it would be laughable.

I don't blame the orgs either, Mathieu. Kudos to them for keeping their cool and enduring such an incompetent CFC leadership!

Neil. Don't believe everything you read on CT.

As well, I don't know how you can be taken seriously as a candidate for CFC President, if you can't even be bothered being a member unless you decide you have enough support that you might have a chance of winning the election.

[Mathieu Cloutier]

Re: Re : Some numbers from the last Canadian Closed

You are making an unfounded and inaccurate statement.

Care to explain to me in more details? I'm open to change my opinion on that issue.

[Vlad Drkulec]

Re: Re : Some numbers from the last Canadian Closed

Actually, the FQE is giving 8 000$ per year to the CFC for... eh... we're not sure what...

I wouldn't blame the organizers for the fiasco that this tournament was. The issues about the Canadian closed are more systemic.

You are making an unfounded and inaccurate statement.

[Neil Frarey]

Re: Re : Some numbers from the last Canadian Closed

Actually, the FQE is giving 8 000$ per year to the CFC for... eh... we're not sure what...

I wouldn't blame the organizers for the fiasco that this tournament was. The issues about the Canadian closed are more systemic.

CFC leadership not only hustles the FQE for 8k a year but they (CFC) can't find a dime to support their own national event???

That's insane.

If it wasn't so pathetic ... it would be laughable.

I don't blame the orgs either, Mathieu. Kudos to them for keeping their cool and enduring such an incompetent CFC leadership!

[Mathieu Cloutier]

Re: Re : Some numbers from the last Canadian Closed

Wow ...truly pathetic.

What kind of CFC leadership goes begging? And then, adding to the insult doesn't offer any financial support?

Actually, the FQE is giving 8 000$ per year to the CFC for... eh... we're not sure what...

I wouldn't blame the organizers for the fiasco that this tournament was. The issues about the Canadian closed are more systemic.