Originally Posted by team3521:
Posted by SP motorsports on 5/27/14 at 1:15 pm in a thread that was named "Night before the 500:
I provide the following information for fact purposes only. Not to support any particular view. It has been stated that they are a non-profit which is a realm I make my daily living in. So here is some publicly available information that may or may not support some viewpoints.
According to their IRS form 990 for the fiscal year ended 11/30/2012
Total Revenue: $5,102,264
Total Salaries: $1,393,999
Total Expenses: $4,583,733
Revenue less expenses: $518,531
Total Net Assets: $2,249624
Reportable Compensation:
Kevin Miller $434,000
Jason Smith $95,000
Two main sources of revenue: (not a comprehensive list of all revenue sources)
*****All of this information was taken from a 29 page document that is public information.
Now I have a question for all of you.
This information was before Davey was brought on.
Who do you think is going to pay for this?
I posted that information last May to be factual financial information about USAC. I certainly hope it was not the poster's intent to bring it back up to malign USAC.
Also for the record, I enjoy USAC races more than any others. I think it is a great product for the fans.
I am excited to hear about Davey being given this opportunity and I wish him and USAC the absolute best!
Originally Posted by 1121:
Must See was not associated with the King of Wings or the Auto Value Super Sprints. And they did not have a race in Florida this year. Nothing should change with Must See because of this.
Tom Paterson
Realize Must See is a separate entity. Just wondering if Hamilton might reach out to them, also. I was also wondering if USAC (under Hamilton) might schedule a trip south for the winged sprinters. I didn't make either points clear, Tom. Sorry.
Actually, the King of Wings with support of the Auto Value Super Sprints have a race at Pennsacola, FL and Mobile, AL on April 10th and 11th. These were MSR dates last year.
Always have been a huge USAC fan. So much so, that I dedicated over a decade of my life to trying to do something that would help keep competitors coming into USAC instead of losing them to other, dead-end series - that was why I worked so hard on the Focus Midget program. Very happy to see Davey coming on board, he's a really good guy. Unfortunately, it won't make any difference and you old timers reading this know it, and you know why.
USAC is top heavy with board members that nobody ever hears about - guys that contribute almost nothing to the organization or the sport but make the organization a crippling bureaucracy. They bring in bright, energetic guys like Davey and everybody gets all excited…. and then nothing happens. We've seen this over and over.
Davey - best of luck. Do the best you can but don't piss off the board. If you do it right you'll slide yourself into a cushy, do-nothing, six figure job at the top of the management ladder like JS. If you speak your mind they will chew you up and spit you out. It would be nice to think that there is a third option here, one where you actually could make some moves and get some things done. I know thats what some of the younger readers of this board are hoping. I hope I'm wrong, but I don't see any structural changes in the organization that could facilitate that.
The rainmaker pulls in half a million dollars in exchange for making 1.3 million in sponsorship. Then the big dogs get fed. Then there's not enough left to even buy stickers. That is how it is.
Team 3561... Sorry, I am over this,but Keith is spot on in his assessment of the structure at USAC! Last year I did want to inform competitors that while they were struggling to make it to the next event that the President of the organisation they were supporting was taking a cool $500,000 off the top !! Seems a few went wing racing... but most continue to spend their cash supporting 'The Detriot Retirement Fund".... Me, getting my poles ready for spring, playing with the grand kids, betting the horses, and really do not give 2chits what happens on West 16th Street.
I love usac racing and wish.davey the best. I hope within the next 5 years tony Stewart will continue to make us racing fans happy. He has put a lot of great things into the things we love. ( Eldora, non wing, wing, all stars, go carts , midgets and I could go on and on ) but hopefully he can come in and save the series we all love asphalt and dirt track racing. If someone could put some butts in the seats and get back to the racing events we all enjoy he could put a smile on a lot of promoters and racing teams and racing family faces. Hopefully soon he can put usac under his belt.
I am not sure what the point of the numbers is. Are you posting them telling us that Kevin Miller makes too much money or that USAC rewards him for bringing in sponsorship? Without the compensation plan and bonus structure, the numbers mean nothing. Who is to say that he is not underpaid?
I would bet an adult beverage that Kevin's compensation plan reads something like this: 25-35% of his take home pay is base salary, 15%-25% is based on an agreed performance plan (# of events, # of cars,# of tracks raced at, etc) 50% is based on sponsor dollars brought into the series and overall growth of the brand. If I told you that USAC paid their top executive ten cents on every dollar that he brings in for sponsorship, would that seem like a very good deal for USAC. If the top executive could bring in new classes that dramatically increased revenues, (quarter midgets, Off road), shouldn't he be rewarded for it?
I think most people really do not have a problem with the pay. They have a problem that it is not them getting paid.
