If they were proud of their results, does anyone think they'd wait until Christmas eve to publish it?
And Rich Perelman has a nice analysis of it here:
USATF's tax return is here:
The financial statement's start with an explanation as to why their net assets are now almost negative $5 million after being +$548k in 2023. Total assets dropped by roughly $3 million and liabilities jumped by $4 million.
The statements say :
“The 2023 Audited Financial Statements include both cash and non-cash transactions which impact the decrease in net assets. These include a decrease in value-in-kind (non-cash) assets (approximately $3.0M) and a decrease in cash (approximately $1.8M, driven by one-off operational expenses, as approved by the Board of Directors. This includes residual obligations related to 2022 World Athletics Championships, including expenses related to the 2023 Diamond League Final; prepayment of housing for coaches and team staff for the 2024 Olympic Games; expenses related to training facility track improvements for the 2024 Olympic Games; significant increase in insurance costs without concomitant increases in member fees; legal fees related to unplanned litigation; and the USATF Grand Prix series.”
PS. Previously, when Pro-Publica had the tax returns, there was another thread on this topic:
https://www.letsrun.com/forum/flat_read.php?thread=13229540
We have closed that thread to new posts and urged people to post here:
