On Winning with Bikes and Federal Income Taxes

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.

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2 responses

  1. Don’t you just love ‘non-profits’ (often government supported via taxes)

    Wow- from $40,000 a year to $103,000? Impressive raises in today’s economy!.

    That means Arn is paying his fair share of local taxes to help the local economy. Or — is he writing most of his pay off as ‘expenses’ for SOS?

    Truthfully–I agree 100% with “he 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…”

    How much is Mrs. Menconi paid for by same organization? For some reason-her salary never appears…

  2. Please tell all federal taxpayers, and all media you can think of–
    –we in CO got such a nice $2.4 Million gift from your federal tax money…. Oh wait-from CHINA’s money actually.

    NO NEW DEBT!

    Boehner (513) 779-5400 tel (513) 779-5315 fax

    Reid 775-686-5750Fax: 775-686-5757

    Avon elementary school students and their SIBLINGS get medical, dental, mental health care etc., from the FEDS?? Are you kidding? WHY? And, why siblings too?

    This country is–broke, or so Obama sez.

    Health care? At public school–silly me, I thought school was for–education.

    Health Resources and Services Administration
    Contact info ask@hrsa.gov
    888-ASK-HRSA (888-275-4772)
    Media
    press@hrsa.gov
    301-443-3376

    EAGLE, Colorado — The Health Resources and Services Administration awarded $2,478,119 (millions) in competitive federal grants to school-based health centers in Colorado –

    Of the $2.4 million, Eagle County Schools will receive $221,408 in capital construction funding to establish a “school-based health center” at Avon Elementary School to provide access to medical, dental, and mental health services to students attending Eagle County Schools and their siblings.

    Read more; http://www.vaildaily.com/article/20110727/NEWS/110729817/1078&ParentProfile=1062

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