How To Squander Money You Didn’t Earn (Part 4)
In the fourth and final post on “How To Squander Money You Didn’t Earn: Brooklyn’s Guide to Republican Party Finance,” I’ll be going over professional services, the KCRP’s School of Politics, and the all important Lincoln Dinner. (Any and all information can be viewed at www.elections.state.ny.us of the NYS Board of Elections website).
PROFESSIONAL SERVICES – $15,133.15
It appears the purposes for which the Chairman (aka “The Duke of Bay Ridge”) pays for professional services are very vague. Only one business—Alatsas & Taub ($7296.00)—was listed for a purpose, namely petitioning services. Listed are those individuals and businesses that received funds from the KCRP:
Oleg Atbashian – $300.00
Upstream Communications – $254.00
Gerry Orien – $1600.00
Prime NY – $3874.00
Executive Star Services – $559.00
Lisa Chappman – $750.00
Daniel Rodriguez – $500.00
The question still remains: what are these services for and what did they provide?
THE SCHOOL OF POLITICS – $792.00
It is common knowledge that this event was poorly advertised and attended, and it lacked any informative value. To date there has been little return on this investment, due to the lack of Republican candidates for the upcoming elections and the distribution of Wilson-Pakulas like hall passes. So what was the point? What was really gained from this event?
On the one hand, this function garnered the KCRP $5400.00 in profit.
Here’s the kicker: that’s less than a 15% return on their investment. That’s terrible considering the scope, size and magnitude expected of this event. This is the main fundraising event for the KCRP.
Some cost-saving solutions? Trimming expenses, such as decreasing flower expenditures and increasing ticket sales, journal ads, and donations, need to be a top priority for future events.
INCOME – $44,218.00: Ticket sales – $36,675.00; Donations – $1415.00; Journal Ads – $6127.00
EXPENSES – $38,797.00: Catering Hall – $26,671.00; Flowers – $2,575.00; Invitations – $1899.00; Journal Printing – $4915.00; Music – $325.00; Awards – $413.00; Photo/Video – $2000.00
It’s quite obvious that there is a lack of transparency in these financial disclosures and that the Chairman has too much control over KCRP funds. It’s apparent that this is being run like a personal and private club, rather that a political organization. Over $73,000 was spent in six months, and there is little or nothing to show for it. The KCRP is in very dire financial straits because of this lack of due diligence. All those that have donated to the KCRP deserve to know where their money really went.
The current Chairman has spent this money like he’s earned it, and that is obviously not the case. The KCRP had an opening balance of $15,795.00 and contributions of $62,343.00 totaling $78,138.00. The total expenses listed are $73,763.00 with a CLOSING BALANCE OF $4375.00. This is equal to $11,420.00 less than what the KCRP started with!
Something is seriously wrong with this picture. It makes you wonder if perhaps The Duke knows he’s on his way out and doesn’t want to leave any cookies in the jar after he’s gone for the next Chairman…
Whatever the reason, it is quite clear that drastic changes are desperately needed with the handling of finances for the KCRP. Without sound investments and strategic planning, the reality is there will be no KCRP in the very near future!