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MJ23
Joined: 28 Feb 2011
Location: Sydney
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| piedys wrote: | | MJ23 wrote: | | Duff Soviet Union wrote: | | Adam Treloar 3 Votes wrote: | | We lost money by design. Rather than hand over our profits to the AFL we have instead spent it on upgrading our facilities and then booking the depreciation as a loss. It is not a real loss, it is clever accounting. |
I was about to say, we actually made a decent profit before depreciation. This isn't a big deal. |
Exactly. Gets tiring social media sometimes when a blunt headline - created for this exact reason - sucks in the ignorant. |
And all the financials above are stated for fact or public record in the AGM reports, to validate your opinions? |
Not an opinion. It's in the report.
"As the club has previously advised supporters, each year Collingwood will continue to depreciate the value of the Glasshouse and redevelopments of the Holden Centre."
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"Even when Im old and gray, I wont be able to play but Ill still love the game"
Michael Jordan |
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Adam Treloar 3 Votes
Joined: 09 May 2017
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^ It doesn’t matter whether you understand it or not, what is important is that the club accountants clearly understand what they are doing and I hope they keep doing it. We are not here to subsidise our competitors. Our club is doing what all smart small, medium or large businesses do. Minimise tax paid and in our case AFL tax also by writing off maximum levels of depreciation on our assets.
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People forget that our last premiership was only 2010 and rebuilds take some time. 2018 we play finals again. |
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Mugwump
Joined: 28 Jul 2007
Location: Between London and Melbourne
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^ $1.6m operating profit is the figure that matters.
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Two more flags before I die! |
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K
Joined: 09 Sep 2011
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| MJ23 wrote: | ...
"As the club has previously advised supporters, each year Collingwood will continue to depreciate the value of the Glasshouse and redevelopments of the Holden Centre." |
Can someone explain to me what this actually means? Money and I are obviously strangers. |
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Duff Soviet Union
Joined: 17 Aug 2010
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| Mugwump wrote: | | ^ $1.6m operating profit is the figure that matters. |
Correct.
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"We ain't gotta dream no more" |
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What'sinaname 
Joined: 29 May 2010
Location: Living rent free
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EBITDA is a load of wank. Interest is an operating expense, as it D and A - your financing and capital structure and asset utilisation are all important considerations.
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Fighting against the objectification of woman. |
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piedys 
Heeeeeeere's Dyso!!!
Joined: 04 Sep 2003
Location: Resident Forum Psychopath since 2003
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| MJ23 wrote: | | piedys wrote: | | And all the financials above are stated for fact or public record in the AGM reports, to validate your opinions? |
Not an opinion. It's in the report.
"As the club has previously advised supporters, each year Collingwood will continue to depreciate the value of the Glasshouse and redevelopments of the Holden Centre." |
Very well then; I shall hold you to that! 
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M I L L A N E 4 2 forever |
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stui magpie 
Prepare for the worst, hope for the best.
Joined: 03 May 2005
Location: In flagrante delicto
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As a Not for Profit organisation, do we have to pay tax on any "profit"?
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Every dead body on Mt Everest was once a highly motivated person, so maybe just calm the **** down. |
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inxs88
Joined: 17 Aug 2014
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| ronrat wrote: | While you bloody idiots start blaming everyone including Pert for not making enough money get a clue. I mean a real one. I mean why don't you blame Nathan Buckley as well.
If you want a womens ream, a netball team. and even a basketball team plus a VFL team how the hell are they meant to make mega bucks. On top of that not making finals cost the bottom line plus a poor attendance (by our standards) . Give yourselves an uppercut.
Overall a fair result. |
Apologies "Mr KMPG"!
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I love the Pies, hate Carlscum |
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Albert Parker
Joined: 13 Dec 2012
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| ronrat wrote: | While you bloody idiots start blaming everyone including Pert for not making enough money get a clue. I mean a real one. I mean why don't you blame Nathan Buckley as well.
If you want a womens ream, a netball team. and even a basketball team plus a VFL team how the hell are they meant to make mega bucks. On top of that not making finals cost the bottom line plus a poor attendance (by our standards) . Give yourselves an uppercut.
Overall a fair result. |
Can't say that I want all of the ancillary teams actually. Let's stick to football
AFL, VFL to support it and AFLW.
Why on earth we have a netball team, I cannot fathom. Are we a country sporting club or something? Seems more ego driven than anything.
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One team, one dream - the Pies and this year's premiership |
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Albert Parker
Joined: 13 Dec 2012
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Double post
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One team, one dream - the Pies and this year's premiership |
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ronrat
Joined: 22 May 2006
Location: Thailand
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| Albert Parker wrote: | | ronrat wrote: | While you bloody idiots start blaming everyone including Pert for not making enough money get a clue. I mean a real one. I mean why don't you blame Nathan Buckley as well.
If you want a womens ream, a netball team. and even a basketball team plus a VFL team how the hell are they meant to make mega bucks. On top of that not making finals cost the bottom line plus a poor attendance (by our standards) . Give yourselves an uppercut.
Overall a fair result. |
Can't say that I want all of the ancillary teams actually. Let's stick to football
AFL, VFL to support it and AFLW.
Why on earth we have a netball team, I cannot fathom. Are we a country sporting club or something? Seems more ego driven than anything. |
I don't want them either. But I was just trying to explain it. But it makes sense (to some) that if you start up a non paying competition then someone has to pay for it. Personally I would like to see the AFL fund the womens teams. Which will come to a screaming heap when they get 18 teams and realise no one will watch and sponsors drop off.
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Annoying opposition supporters since 1967. |
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Dark Beanie
Joined: 06 Feb 2004
Location: A galaxy far, far away.
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| stui magpie wrote: | | As a Not for Profit organisation, do we have to pay tax on any "profit"? |
Depends if the club has an income tax exemption from the ATO.
Organisations may call themselves not-for-profit but are not necessarily considered NFPs by the ATO.
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If you are foolish enough to be contented, don't show it, but just grumble with the rest. - Jerome K Jerome |
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Wokko 
Come and take it.
Joined: 04 Oct 2005
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Didn't know we had so many CPAs around here  |
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Dark Beanie
Joined: 06 Feb 2004
Location: A galaxy far, far away.
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CPAs, doctors, coaches.... we're an eclectic bunch 
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If you are foolish enough to be contented, don't show it, but just grumble with the rest. - Jerome K Jerome |
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