Author Topic: Concise Financial Report 2018  (Read 3001 times)

Offline tdy

  • RFC Hall of Fame
  • *****
  • Posts: 2392
Re: Concise Financial Report 2018
« Reply #15 on: November 22, 2018, 06:15:25 PM »
Its an interesting philosophical question, what does a not for profit sporting club do with its profits?
 Invest for a rainy day? Return profits to members?
 Its like a government who has no good ideas on how to spend the tax take and makes a profit/surplus, well why colect the Tax.
The bold is forbidden as that would class as paying dividends.

That $500k investment may be going towards the future expansion of our facilities with our AFLW side starting in 2020? So reinvesting profits into the Club may be the answer to that philosophical question.

The Club is very different to government. Those within the Club actually like each other unlike our pollies and work together united towards a single purpose :yep. It's popular with the masses (when winning  ;) ) who are happy to hand over their hard earned to make the Club stronger and more powerful. The masses also willingly voted to give the Club (its Board) more executive powers.
You could return it to members by lowering next years membership by X amount as a loyalty bonus or some other such scheme.


Offline one-eyed

  • Administrator
  • RFC Hall of Fame
  • *****
  • Posts: 95131
    • One-Eyed Richmond
Re: Concise Financial Report 2018
« Reply #16 on: December 11, 2018, 04:57:29 PM »
I agree that the club should invest again in a pub but it wont because of fear of people trashing the club about gaming.
Race Clubs are going around buying pubs and gaming and no one says anything, but for clubs its a no no. What rot,
gambling is legal and a social endeavor which isnt a problem for 99% of the populace. Buy another pub with machines
and really set the club up as a powerhouse going forward.

Your not getting a pub for $500k in tiger land.....you would’nt get the lease for that

never said you could. don't know where you plucked the $500,000 from. Richmond has millions in the bank, they could
invest 3 or 4 of that and get a pub.
Just on other clubs and their po-kies licences, Collingwood have sold both their licences and are getting out of po-kies while Essendon has been granted a 29-year extension on their lease.

http://www.afl.com.au/news/2018-12-11/bombers-win-pokies-extension-as-magpies-bow-out