Is the IFBB *really* a non-profit? Hmm...

[Adam Empire]

Anyone closer on knowing if this org is truely registered as non-profit?

[onlyme]

Jeez, I forgot about the $100,000 they pay the IFBB for the Arnold.  My bad

[Adam Empire]

I think the Canadian Govt should have papers on non-profits.  I would think they would be public, but don't know for sure...

[Tre]

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."

[Lift Studios]

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?

[onlyme]

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.

[Lift Studios]

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.

[240 is Back]

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!

[davidpaul]

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

[Tre]

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. 

[gordiano]

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?

[240 is Back]

What a deal!

Can I substitute the opium for 2 camels?

Yes, but for Getbig members only.

[HRDCOR]

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 !!!

[onlyme]

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.

[Tre]

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.

[onlyme]

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.