Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => Gossip & Opinions => Topic started by: Tre on July 24, 2006, 01:10:45 PM
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I doubt the feds will find anything.
There's a *lot* of money leaving the country and being paid to their so-called "non-profit organization".
I'll have to check with someone in the know, but it stands to reason that a Canadian non-profit - OPERATING IN THE U.S. - should be held to the same accountability standards as any American non-profit organization.
I don't know every IFBB pro in the world, but I have yet to meet one who has ever received a financial statement with their official IFBB annual report.
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Careful now...........making such inquiries may result in the removal of your VIP schmoing pass..............
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lots of moderation going on today.
i have heard some very terrible things about the money - that people get checks for being in certain families, etc, that taxes are dodged. Who knows if it's true. I'm sure when Lee starts suing, all the microscopes and reporters on a juicy story like steroids will uncover something good.
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There is no profit in the IFBB. Promoters pay a sanction fee to the IFBB when holding a show (usually 10.000 USD)
apart from that, there is no real big income.
Remember, the ifbb was and is still run by Ben Weider. Back in the day he had Flex and all the other Mags, plus Weider Nutrition (which still exists today) thats where the income lies.
Now he sold flex. and Weider Nutrition is no longer a main competitor in the industry, but Ben could care less. He's made his money and doesn;t really need to throw money into the ifbb per say.
and if he does, he won't mind, he just loves the sport.
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There is no profit in the IFBB. Promoters pay a sanction fee to the IFBB when holding a show (usually 10.000 USD)
apart from that, there is no real big income.
Remember, the ifbb was and is still run by Ben Weider. Back in the day he had Flex and all the other Mags, plus Weider Nutrition (which still exists today) thats where the income lies.
Now he sold flex. and Weider Nutrition is no longer a main competitor in the industry, but Ben could care less. He's made his money and doesn;t really need to throw money into the ifbb per say.
and if he does, he won't mind, he just loves the sport.
I would love for you to show us the documentation for this LMAO...
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I would love for you to show us the documentation for this LMAO...
I live in montreal (wieder head office is like 15 minute drive from my work)
although i doubt that i drive there and ask ben himself he would admit it...
fact is, word gets around here and i've known this for a long time.
Besides, if you think they're out there for profit..who u think is putting money in their pockets anyways?? ???
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That would explain why the guys spend so much $$$$and damage their health for $1000 for a 5th place,$2000 4th,$3000 3rd and $5000 2nd and wait for it yes a massive $10000 for 1st.this being in a $20k show.Now I know it the IFBB is a charity.0Zero profit.Give us all a break.
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hhaa, already 2 comments of me in this thread got removed.
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hhaa, already 2 comments of me in this thread got removed.
Shit, mine are getting chopped off too..............
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Shit, mine are getting chopped off too..............
Haha, looks like the germans took over the board.
Best thing is, i had two monster attempts to turn this thread into something stupid and ridiculous, but they kept the thread on track.
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why would any moderator of this board have a pro-IFBB agenda?
that's just crazy talk!
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There is no profit in the IFBB. Promoters pay a sanction fee to the IFBB when holding a show (usually 10.000 USD)
So, are you claiming that the $10,000 for a single event is just an 'administrative fee'?
Whenever I make or receive a wire transfer in excess of $10,000 the IRS is notified by my bank.
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So, are you claiming that the $10,000 for a single event is just an 'administrative fee'?
Whenever I make or receive a wire transfer in excess of $10,000 the IRS is notified by my bank.
ya i know, but think about it...what are there? like 12-15 IFBB sanctioned shows per year? its under 200.000$
and i'm sure that's about it. If it is makin money, thats about it, but then i'm sure they pay the judges, fly them out to shows, and i'm sure there are a few people who collect a salary from the IFBB
guys who keep track of athletes positioning, what shows are held where, how many pro-cards are issued per year and to who...not much but i mean they must collect a salary. so at the end...what real PROFIT is left for the organization? i dont think it's much.
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promoters pay for most of that. IFBB just gets is check for every show, and whatever cut it owns in licensing of various events and endeavors.
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ya i know, but think about it...what are there? like 12-15 IFBB sanctioned shows per year? its under 200.000$
and i'm sure that's about it. If it is makin money, thats about it, but then i'm sure they pay the judges, fly them out to shows, and i'm sure there are a few people who collect a salary from the IFBB
guys who keep track of athletes positioning, what shows are held where, how many pro-cards are issued per year and to who...not much but i mean they must collect a salary. so at the end...what real PROFIT is left for the organization? i dont think it's much.
VyoTech just pays for it all.................... ;D
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There is no profit in the IFBB. Promoters pay a sanction fee to the IFBB when holding a show (usually 10.000 USD)
apart from that, there is no real big income.
Remember, the ifbb was and is still run by Ben Weider. Back in the day he had Flex and all the other Mags, plus Weider Nutrition (which still exists today) thats where the income lies.
Now he sold flex. and Weider Nutrition is no longer a main competitor in the industry, but Ben could care less. He's made his money and doesn;t really need to throw money into the ifbb per say.
and if he does, he won't mind, he just loves the sport.
The sanction fee for the bodybuilding portion is $10,000 the sitness and figure is another $4,000. How many shows worlwide are there. Add in another $400,000 for the Olympia and that is how much in sanction fees there are getting tax free. Now add the advertising dollars they recieve from the NPC magazine. Some supplement companies pay a one time fee each year to be in certain IFBB shows. Some of these sponsors are paying upwards of $100,000 for the year. Add the memebrship dues from competitors and promoters. It adds up. And sure Ben loves BB it has made him a millinaire many times over. It must be great to be able to control big muscle guys into doing anything you say and they make you money while you pay them nothing. That is awesome even I admit that.
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Yes, there's definitely a lot more being poured into the IFBB coffers than Colossus is aware of.
And it's all tax-free...yet, no one seems to know where all the money goes.
The public has a right to know.
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ya i know, but think about it...what are there? like 12-15 IFBB sanctioned shows per year? its under 200.000$
and i'm sure that's about it. If it is makin money, thats about it, but then i'm sure they pay the judges, fly them out to shows, and i'm sure there are a few people who collect a salary from the IFBB
guys who keep track of athletes positioning, what shows are held where, how many pro-cards are issued per year and to who...not much but i mean they must collect a salary. so at the end...what real PROFIT is left for the organization? i dont think it's much.
Definite education on the IFBB needed here. How much you think the IFBB gets for the Olympia. Lets say about $400,000. At least that is what Wayne was paying. Who knows now itcould be more. And promoter pays 100% of all costs associated with an IFBB show. The IFBB has NO expenses. Judges airfare, per diem, hotel and pay are all paid for by the promoter.
There are over 30 IFBB Bodybuilding Events and 8 or so Fitness/Figure. Some of these contests cost more than $10,000 to sanction. And to keep it in the family so to speak the NPC probably pays a fee to the IFBB. If the IFBB had any balls or care at all about their members they would take care of them more. Blanket medical coverage for every member is not a big deal. Their could easily be requirements to get the insurance just like with SAG. They could easily support a minimum wage so to speak for every competitor. But, then any of this would take away the luxuries they are used to.
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Do they have Non-Profit status? I tried to look it up but couldn't find it listed anywhere. (To be fair, I am not certain if I checked all the places I should though). If they are non-profit status, their books should be open to all I think.
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Do they have Non-Profit status? I tried to look it up but couldn't find it listed anywhere. (To be fair, I am not certain if I checked all the places I should though). If they are non-profit status, their books should be open to all I think.
As the legend goes, they are a Canadian non-profit, yet do very little business in Canada compared to how much they do in the U.S.
I contend that they should be held to the same accountability standards as any American non-profit, meaning that the financial statements should be made available available to the public, upon request.
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Out of curiousity how many of you are NPC card carrying members?
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Definite education on the IFBB needed here. How much you think the IFBB gets for the Olympia. Lets say about $400,000. At least that is what Wayne was paying. Who knows now itcould be more. And promoter pays 100% of all costs associated with an IFBB show. The IFBB has NO expenses. Judges airfare, per diem, hotel and pay are all paid for by the promoter.
There are over 30 IFBB Bodybuilding Events and 8 or so Fitness/Figure. Some of these contests cost more than $10,000 to sanction. And to keep it in the family so to speak the NPC probably pays a fee to the IFBB. If the IFBB had any balls or care at all about their members they would take care of them more. Blanket medical coverage for every member is not a big deal. Their could easily be requirements to get the insurance just like with SAG. They could easily support a minimum wage so to speak for every competitor. But, then any of this would take away the luxuries they are used to.
so from all your post, they should just do away with IFBB and bodybuilders should join PDI? is that what you are saying?
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As the legend goes, they are a Canadian non-profit, yet do very little business in Canada compared to how much they do in the U.S.
I contend that they should be held to the same accountability standards as any American non-profit, meaning that the financial statements should be made available available to the public, upon request.
Well, let's go to the website and request it...
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Out of curiousity how many of you are NPC card carrying members?
Did you mean to ask how many viewers are IFBB members?
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so from all your post, they should just do away with IFBB and bodybuilders should join PDI? is that what you are saying?
No way! But at least Wayne is using his own personal money to fund the PDI at the moment. After the NOC everyone will see the support he has behind the scenes. And I was a NPC card holder. Anyone can be. All promoters are required to join the NPC too.
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Anyone closer on knowing if this org is truely registered as non-profit?
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Jeez, I forgot about the $100,000 they pay the IFBB for the Arnold. My bad
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I think the Canadian Govt should have papers on non-profits. I would think they would be public, but don't know for sure...
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Anyone closer on knowing if this org is truely registered as non-profit?
From the "About Us" section of IFBB.com:
"The IFBB is a legal entity under the laws of the Government of Canada, founded in 1946 and federally incorporated as a not-for-profit organization."
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Did you mean to ask how many viewers are IFBB members?
Yes, sorry my bad.
My point is - why is it the non-members doing all the complaining?
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SOMEONE BETTER MAKE A COPY OF THIS CAUSE IT PROBABLY WON'T LAST LONG
tax free staus can be lost if records aren't released. ifbb is required under law for a non-profit. they are a canadian based company getting U.S money without paying taxes. When a promoter pays their sanction fees the money is made out to the IFBB and sent to their offices and deposited in the bank in Canada. They (IFBB) do not pay ANY taxes on this money. The promoter in fact is responsible for this money and taxes if the IFBB does not provide a U.S. federal ID #. If the IRS was to ask lets say John Lorimar why he is sending $100,000+ to Canada and Lorimar says its for a sanction fee, the IRS will ask for their Fed. ID #. Since their is none provided to the promoters, the IRS will immediately think this guy is trying to hide money from the IRS and not pay the tax on it. This has been going on for along time (sice day one). The IFBB is a sports federation with a not-for-profit status and is required by law to have their records available. If they refuse then the could ver easily lose their status and pay some hefty fines and fees. But, the thing is no one has ever called them on it. They are not a huge giant corpoartion or company doing multi-millions of dollars a year. But they are doing close to a million and Lorimar's money adds up to almost $2 million. The Olympia money adds up to multi-millions over the years. Anyone who really wants to pressure the IFBB could find out.
Isn't it nice how a foreign company makes so much money from the US and doesn't pay tax on it. Aren't Weiders and the IFBB the best. At least the PDI will pay their taxes.
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SOMEONE BETTER MAKE A COPY OF THIS CAUSE IT PROBABLY WON'T LAST LONG
tax free staus can be lost if records aren't released. ifbb is required under law for a non-profit. they are a canadian based company getting U.S money without paying taxes. When a promoter pays their sanction fees the money is made out to the IFBB and sent to their offices and deposited in the bank in Canada. They (IFBB) do not pay ANY taxes on this money. The promoter in fact is responsible for this money and taxes if the IFBB does not provide a U.S. federal ID #. If the IRS was to ask lets say John Lorimar why he is sending $100,000+ to Canada and Lorimar says its for a sanction fee, the IRS will ask for their Fed. ID #. Since their is none provided to the promoters, the IRS will immediately think this guy is trying to hide money from the IRS and not pay the tax on it. This has been going on for along time (sice day one). The IFBB is a sports federation with a not-for-profit status and is required by law to have their records available. If they refuse then the could ver easily lose their status and pay some hefty fines and fees. But, the thing is no one has ever called them on it. They are not a huge giant corpoartion or company doing multi-millions of dollars a year. But they are doing close to a million and Lorimar's money adds up to almost $2 million. The Olympia money adds up to multi-millions over the years. Anyone who really wants to pressure the IFBB could find out.
Isn't it nice how a foreign company makes so much money from the US and doesn't pay tax on it. Aren't Weiders and the IFBB the best. At least the PDI will pay their taxes.
Thanks for clearing things up Wayne.
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SOMEONE BETTER MAKE A COPY OF THIS CAUSE IT PROBABLY WON'T LAST LONG
tax free staus can be lost if records aren't released. ifbb is required under law for a non-profit. they are a canadian based company getting U.S money without paying taxes. When a promoter pays their sanction fees the money is made out to the IFBB and sent to their offices and deposited in the bank in Canada. They (IFBB) do not pay ANY taxes on this money. The promoter in fact is responsible for this money and taxes if the IFBB does not provide a U.S. federal ID #. If the IRS was to ask lets say John Lorimar why he is sending $100,000+ to Canada and Lorimar says its for a sanction fee, the IRS will ask for their Fed. ID #. Since their is none provided to the promoters, the IRS will immediately think this guy is trying to hide money from the IRS and not pay the tax on it. This has been going on for along time (sice day one). The IFBB is a sports federation with a not-for-profit status and is required by law to have their records available. If they refuse then the could ver easily lose their status and pay some hefty fines and fees. But, the thing is no one has ever called them on it. They are not a huge giant corpoartion or company doing multi-millions of dollars a year. But they are doing close to a million and Lorimar's money adds up to almost $2 million. The Olympia money adds up to multi-millions over the years. Anyone who really wants to pressure the IFBB could find out.
Isn't it nice how a foreign company makes so much money from the US and doesn't pay tax on it. Aren't Weiders and the IFBB the best. At least the PDI will pay their taxes.
In unrelated news, www.300website.com has decided to become an Afghanistan-based non-profit firm.
Now, getbiggers can steal a website for only $300 and also receive a free bale of opium. Act now!
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In unrelated news, www.300website.com has decided to become an Afghanistan-based non-profit firm.
Now, getbiggers can steal a website for only $300 and also receive a free bale of opium. Act now!
just the opium thanks
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Yes, sorry my bad.
My point is - why is it the non-members doing all the complaining?
Simple - the non-members write a lot more checks than the members do.
I'd love to know what's being done with my money and furthermore, I pay all my taxes each year and want every other business held accountable, too.
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In unrelated news, www.300website.com has decided to become an Afghanistan-based non-profit firm.
Now, getbiggers can steal a website for only $300 and also receive a free bale of opium. Act now!
What a deal!
Can I substitute the opium for 2 camels?
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What a deal!
Can I substitute the opium for 2 camels?
Yes, but for Getbig members only.
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Well they are set up to be so they can spend all incoming revenue on them self's , point in case !!!!
The NZFBB (IFBB affiliate) is set up to be a non profit organisation , but they come undone because they ended up in 50k in the red as the committee and the president were spending money on themselves for things like , trips overseas,booze ups,expensive accommodation , personal expense's etc etc --- it all came to fore when I started asking the question , who gave the authorisation for this type of spending and how the hell could you keep spending to a 50k shortfall !!!
But hey its non profit !!! Right ,, but do any of the athletes see any of this ??? Nah Nah
So imagine the scale that may be in the USA if this is common practise in the IFBB affiliates , non profit right , it may be because they blow all the dosh .
I tell you what it is not , Revenue sharing !!!
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Yes, sorry my bad.
My point is - why is it the non-members doing all the complaining?
The reason is members of the IFBB are generally guys who can't defend themselves, or are afraid too. They don't want to rock the boat. It's too bad.
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The reason is members of the IFBB are generally guys who can't defend themselves, or are afraid too. They don't want to rock the boat. It's too bad.
Good point. Everyone needs an advocate.
Back in the 60s (and before), the vast majority of NFL players didn't have agents and therefore had to negotiate their own contracts. As a result, most were paid what amounted to slave wages. The change came from outside, not from within.
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Good point. Everyone needs an advocate.
Back in the 60s (and before), the vast majority of NFL players didn't have agents and therefore had to negotiate their own contracts. As a result, most were paid what amounted to slave wages. The change came from outside, not from within.
That is absolutely true. It is the agents and managers who get the athletes money. To play pro sports or be an actor you have to have either one or both to get the big bucks.