by friends of Lance Armstrong – (photo credit – ESPN)
Congratulations to the first Australian Cadel Evens – to win the Tour de France! Long time Tour observers will tell you that this years Tour “was won” on yesterday’s (last Saturday’s time trial stage) and NOT as a result of the rigorous mountain stages – that has historically been – where the Tour is won.
Congratulations it seems is also in order for Arn Menconi’s – SOS Outreach 501(c)3 non-profit. Menconi’s #1 fundraiser for SOS Outreach was held this past weekend – his annual “Colorado River Bike Ride”.
As is the case with all 501(c)3 non-profits, their non-profit’s Federal Tax return (Form 990) is Public Record.
There can be no question that the winner of this years Colorado River Bike Ride – is SOS Outreach Executive Director, Arn Menconi.
SOS reporting income of $871,233.00 of that, about 12% went to the Executive Directors annual salary – $103,644.00.
Additionally it was reported (2009) that…
$350,842.00 – Other Salaries and Wages
$153,424.00 – Contract Labor
$101,309.00 – Event, auto Telephone, Printing and Reproduction Expenses
The EagleCountyTimes.com is not a CPA firm. Near as we can calculate from the information filed in the most recent (2009) tax return (the ECT could find) – approximately 81% of the money raised by Menconi’s SOS Outreach – is ‘consumed’ by just running his non-profit. Click Here – for a copy of that Federal Tax return. You might want to glance at page 10 of his tax return.
SOS Outreach’s – Mission Statement claims the reason SOS exists is to “To build character in at-risk and underprivileged youth to enhance decision-making for healthy and successful life experiences.”
DISCLAIMER: ECT has no doubt that SOS Outreach does some good work for youth in our Community at large. ECT still wondering just how much of the money raised – actually goes to helping those “underprivileged youth”.
The ECT suggests that if half or more of the money raised by ANY non-profit goes to sustaining that non-profit, then it’s clear what the real purpose of that non-profit really is…
ECT reports, you decide.