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Turning to the VPC

I decided to look at the VPC finances to see how they were doing. The last time I checked them out was nearly 3 years ago! How could I have let so much time pass without checking in our pals Josh and Kristen? Only this time, I think the only way to fully express their situation is in a graph.

You can actually see Josh drove them in the hole to the tune of more than $40,000 in 2006. I guess that’s when Helmke drew all the gun control donations back to the Brady Campaign. At the end of 2008, the reserves he has built back up are still less than his salary for one year. Between 2002 and 2008, their reserves are down by 86% and revenues are down by 47%. What board of directors allows this to go on? I can’t fathom that any leader of any organization I’ve worked with would be allowed to stay on if they delivered the same kind of performance. Regardless, lead on, Josh! Heckuva job!

Even with this very handy overview of their finances, it doesn’t tell the real story of VPC’s changes over the years. For that, I realize we needed one more data point. So I fixed it.

7 Responses to “Turning to the VPC”

  1. Dannytheman says:

    Bitter,

    Great job. Please always remind me to beg/grovel for your forgiveness if I ever make you angry!!

    Danny

  2. pete says:

    I think the second graph is awesome

    I also wonder what happened to dig them out of the hole? Did the Joyce Foundation come to the rescue? Where did that money come from? It would have been great to watch them go bankrupt.

    • Bitter says:

      Non-profit fundraising is akin to a roller-coaster. There are a good number of non-profits who go into the hole during the middle of the year because a huge percentage of donations come in the last few months. My guess is that the money he was expecting just wasn’t there. Clearly, he kept cutting expenses and went to work on fundraising more. As long as he could earn that money fairly quickly in the next year to pay bills, then it would be possible to turn things around. As for where that money came from, I don’t know. I’m about to start making dinner for the gun club tonight, but if someone has a survey of Joyce grants from 2007 compared to 2006, you might be able to tell in that data.

      Given that expenses have generally leveled off, I would guess they have cut to the bone. Another rough year or two and they may not make it.

  3. Mike w. says:

    I would guess they have cut to the bone. Another rough year or two and they may not make it.

    We can only hope. Then again I’d suspect Joyce will give enough to at least keep them afloat.

    • Bitter says:

      At some point, they’ll need to cut their losses and make hard choices for their grants. Unless Sugarmann has naked pictures of some of the board members, they are going to have to cut the strings someday.

  4. Thirdpower says:

    Joyce VPC grants from ’03-’09

    12/4/2003 $500,000 12mo
    12/2/2004 $500,000 12mo
    12/2/2005 $450,000 12mo
    7/20/2006 $700,000 18 mo
    12/6/2007 $700,000 12mo
    12/4/2008 $700,000 12mo
    12/10/2009 $585,000 12mo

  5. beatbox says:

    Nice numbers 3rdpower. VPC pretty much operates at the behest of Joyce. The number for 2009 won’t be too good with the cuts from Joyce.

Trackbacks/Pingbacks

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