Philanthropy.com has an article “Burning Man Becomes Unlikely Leader in Financial Transparency“. It proves what I learned studying accounting in college: professors don’t know what they’re talking about.
This guest post from our reader A Balanced Perspective is commentary on that article.
Might you have viewed the next article of utter PR rubbish, penned by Assoc. Prof. Mittendorf, of Ohio State University, within the Chronicle of Philanthropy of Burning Man Becomes Unlikely Leader in Financial Transparency? Assoc. Prof. Mittendorf misses numerous items of much importance:
a) The important financials, of the owned subsidiary corporation, Black Rock City LLC, dba Burning Man, the Burning Man event, are hidden from donors of art, labour, cash, and stock. The 990 form of 2013, of the Project, does not include the financials of the BRC LLC.
b) Prof. Mittendorf misses of that Burning Man is a crowd sourced event, much information is owed towards the awesome Burners whom provide the entertainment, the EDM sound camps, the Esplanade camps, the mutant vehicle owners, the artists, and the numerous volunteers, none of whom are paid from the $31.5 million of ticket sales for their labours.
c) Prof. Mittendorf misses of the numerous millions, hidden from donors, paid towards the pockets of the six prior owners of the BRC LLC, prior of their honourable donation of the BRC LLC to the Burning Man Project.There is $4 million missing from their accounting, within the Afterburn Reports, of each year of 2010, 2011, 2012, and 2013, a sum of $16 million. Might any person desire to dispute of this, please state of the rationale of why the payroll raised from $2.8 million within 2009, to $7.2 million within 2010, with solely 30 employees, and contractors and consultants upon other lines within the ledger, and temporary labourers paid little cash. Where is the missing $4 million of cash, within the payroll line upon the ledger, might the cash not have been directed towards the pockets of the six prior owners of the BRC LLC in the manner of salaries and benefits paid towards them?
d) The payments for the Burning Man(TM) name and trademarks, owned by Decommodification LLC, of which, it is owned by the six prior owners of the BRC LLC. There is a contract, hidden from donors, stating the amount of cash to be paid to them, within 2018. In addendum, what is the deduction upon tax levies that is to be permitted towards them, within 2018, upon this?
e) Images of the art at Burning Man is owned, in parts, by the BRC LLC and Decommodification LLC. The photographers pay a licence fee upon publication of the images, zero dollars of the cash of the licence fees, is paid towards the awesome artists. Whom takes the cash towards their pockets, the BRC LLC, or Decommodification LLC? Whom is taking cash from movies in the manner of Spark A Burning Man Story, and what occurs with this within 2018?
f) The information stated with the 990 form of the project might have been stated near to one year prior of when the information was finally released within January 2015.
g) Larry, within his role of Chief Philosophical Officer of the Project, evaluates, and proposes towards the Project board, many ventures, some ventures of which might be joint ventures. The conflicts of interests are stated towards the Project board, but the conflicts of interests are hidden from donors.
h) An audit was completed, within the prior month, upon the financials of the Burning Man Project, and upon the BRC LLC, upon the years of 2013 and 2014, thus the financials are signed by the auditors, in addendum to being signed by the Burning Man Project. The Project board is of the power to vote to publish the detailed 2014 income statement and 2014 balance sheet, of both the Project, and of the BRC LLC subsidiary corporation, at the present time, in place of hiding the financials, from donors, for near to yet another year upon the release of the 990 form of 2014 within January 2016. Burning Man requires this transparency of all regionals, to publish their ledgers of when the ledgers are signed, it is most hypocritical of the BMOrg to hide this information from donors for near to yet another year.
i) Prof. Mittendorf compares of Burning Man, a crowd sourced event which has had many changes within the ownership structure within the prior brace of years, to the big Red Cross, and other organizations, whom have operated for numerous years; his comparison is utter rubbish.
j) Prof. Mittendorf misses of the outage, of the Burner community, upon his statement of ‘ … has also played out in astounding ways, such as billionaires spending their fortunes to create elaborate tents featuring top chefs and sleek models being paid to provide entertainment.’
j) Prof. Mittendorf misses of how little cash is paid, from the $31.5 million of ticket sales, towards the crowd whom sources the Burning Man event. My belief is of the BMOrg owes transparency, and cash, in support of their efforts and labours. Of the $390, or $450, or $800 of the cash paid towards each ticket, solely
– EDM sound camps – $0 in addendum, they must buy their own tickets. It might be most fair might the BMOrg gift several thousand free tickets, towards them, towards the camps whom provide entertainment, and towards mutant vehicle owners, in support of their efforts and labours.
– Esplanade camps, and other camps whom provide entertainment – $0 in addendum, they must buy their own tickets
– Mutant Vehicle owners – $0 in addendum, they must buy their own tickets
– Artists – $13 within 2014, lower within 2015. Art grants are for solely near to one third of their costs, $0 for labour, and are solely for a small number of artists whom sign a most horrible hidden contract
– DPW labourers, whom construct the city – near to $10, many are not paid
– Gate labourers – near to $3 for food, their tickets, might they have laboured for numerous hours the prior year, are not counted within the paid population cap of near to 70,000 of Black Rock City, thus are not paid from ticket sales.
– BRC Rangers – near to $3 for food, their tickets, might they have laboured for numerous hours the prior year, are not counted within the paid population cap of near to 70,000 of Black Rock City
My belief is of Prof. Mittendorf must retract his rubbish PR article upon transparency in due of his utter cluelessness upon these matters.
[Read the original article at philanthropy.com]