USWP blocks $250k for athletes

[usapologal]

Does anyone care that USWP Board of Directors (controlled by one) have successfully blocked nearly a quarter of a million dollars of National Team athlete support for the past three years?

[ephpolo]

Is this related to funds disbursed from the USAWP Foundation? If so, that's the same issue that was flagged by auditors, who said this:

As discussed in Note C to the financial statements, the Corporation
has not consolidated its financial statements with the United
States Water Polo Foundation (the Foundation), an entity over which
USA Water Polo, Inc. has control.


I don't know the background, but this seems like an issue that should be resolved.

[HANKTORING]

A year later, but what is the deal here?
Can anyone shed some light on this posting?

[usapologal]

Hank, no news. A few months ago, USWP Foundation offered to provide direct financial support to the mens & womens national team athletes. They simply asked USWP, Inc. to identify the appropriate athletes. USWP, Inc. replied with a hostile and sarcastic response saying that this direct support is unacceptable. Further, and more outrageous, USWP, Inc. threatened to sue the Foundation and it's Trustees if they proceeded. USWP's leadership is misguided. And where are the Athlete Representatives? They should be campaigning hard for this financial support on behalf of the athletes.

[sasabucur]

Maybe the foundation wants to use this money to seed fund a 4-6 team league that combines college graduates and top 18-under clubs. Lets push this into a 16-18 and 22-25 year olds that want to continue practicing after college while training young HS kids. Once something like that is proposed USWP will jump in as they lose power.

[usapologal]

The Foundation's mission is to act as a fiduciary to preserve and enhance its endowment for the benefit of Olympic water polo athletes. The endowment was created by the $1m provided by the LA Olympic Organizing Committee from the surplus from the 1984 Olympics.

[Wpguy]

2019 USA WATER POLO TOP SALARIES
Chris Ramsey $ 493,622
Adam Krikorian $ 341,662
Dejean Udovocic $272,415
John Abdou $219,824

[-32H20polo]

2019 USA WATER POLO TOP SALARIES
Chris Ramsey $ 493,622
Adam Krikorian $ 341,662
Dejean Udovocic $272,415
John Abdou $219,824

The above salaries are inappropriate. There is no reason for half a million dollar salary or even a quarter of a million dollar salary in water polo in the United States. If the organizations have that much to throw around they need to throw it around to improving and expanding the sport. NOT lining the pockets of individuals.

[Horse585]

I think that to attract top coaches for national teams, according to the mission statement to win medals, then you've got to pay market rate. I believe that these salaries are aligned with the market for top world coaching positions.

Where reductions in expenses can begin is in the CEO position -- like universities, sometimes the top salary is not the president or chancellor, but the head football and/or basketball coach. This is perhaps the model USAWP should follow.

Where Ramsey may be able to take credit is for leading the growth of USAWP's revenue and capacity (it is no longer a total backwater nonprofit), it is also a consideration for how some of his compensation could be re-allocated to athletes. To that end, men have decided over and over again that they would rather begin building their careers and wealth than suffer without adequate financial support AND lose out on career opportunity cost...and not even get a whiff of a medal.

When/If Ramsey ever moves on, this should be a significant consideration for the USAWP board to strategically re-imagine.

And, btw, Abdou rules! He's earned every penny and then some. I think we have our next CEO already lined up.

[Wpguy]

2019 USA WATER POLO TOP SALARIES
Chris Ramsey $ 493,622
Adam Krikorian $ 341,662
Dejean Udovocic $272,415
John Abdou $219,824

https://www.celebworth.net/2018/08/how- ... e.html?m=1

Simone Biles is earning almost $200,000 less a year than Chris Ramsey. And that is because everyone in water polo knows Chris Ramsey is more important to our sport than Simone Biles is to Gymnastics.

[as23]

2019 USA WATER POLO TOP SALARIES
Chris Ramsey $ 493,622
Adam Krikorian $ 341,662
Dejean Udovocic $272,415
John Abdou $219,824

May I ask where did you obtain these figures from ?
I haven’t seen them in the annual report

[Moderator]

USA Water Polo is a non profit, and as such, required to post their tax returns. The 2019 Tax Returns are posted on the USAWP website. Here is Page 8, with salaries. Link to entire tax return: https://usawaterpolo.org/documents/2020 ... uments.pdf

As a comparison, the CEO of USA Gymnastics makes $387,000

v1_USA GYMNASTICS_0359951_COLUMBUS_BUSINESS TAX 990_TAX RETURN_RFP - 990 (BDO COPY)_2019_12_31_2020-11.pdf

(28.06 KiB) Downloaded 217 times

USA Water Polo Salaries

CS Tax return for year 2019.pdf

(15.15 KiB) Downloaded 294 times

[Sctrojanje]

These are old, but I am awaiting the Financials to see what amount they have set aside in reserve for future 'liabilities' as required by Financial Standards...those are going to be enlightening