Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Comic-Con Grossed More than $9 Million in FY '09, IRS Filing Says

Streetlight banners are up, the schedule is being dribbled out a day at a time to increase suspense, bouncers and bartenders are poised and at the ready, Gaslamp is bracing for an endless traffic jam.

In short, it's time for rabid accounting fans to put on their green eyeshades and review the latest available 990 IRS filing for Comic Con--courtesy of the website Guidestar.Org--to see how much cash the global fiction-frenzied hordes have bestowed on what is arguably San Diego's most famous non-profit--though the group is actually headquartered in La Mesa.

It may be hard to remember, but there was a time when the Union-Tribune questioned the non-profit status of the event, now frequently cited by Mayor Jerry Sanders, city councilman Kevin Faulconer and their posse of boosters as one of the main reasons a lavish new tax-financed addition to the convention center is required here.

Back in July 2007, the paper reported: "As such, the pop-culture extravaganza, which generates about $5 million in revenue each year, is exempt from income taxes and pays less in city traffic-control fees."

Daniel Borochoff, president of the American Institute of Philanthropy was quoted as saying, "The people who appear to be profiting are the pop-culture purveyors who have a great marketing opportunity there."

Here's that story:

http://www.signonsandiego.com/uniontrib/20070725/news_1n25charity.html

Back then, the U-T piece reported that in 2004-05, Comic-Con, according to its 990 IRS financial disclosure form, had total revenue of $5.2 million, expenses of $4.2 million and net assets of $3.8 million.

Things have gone radically uphill from there, according to the group's most recently available 990, covering the period between September 1 2008 and August 31 2009, and stamped received by the IRS last July 19.

By then, gross receipts for the non-profit, which conducts other, smaller events besides the world-famous summer extravaganza here, were $9,169,302 and expenses were $8,213,846, bringing net revenue to $955,456. Net assets were listed at $7,783,375 at the end of the period.

The highest paid officer was listed as executive director Dona Fae Desmond, who worked a reported 50 hours a week for $84,742 in annual salary, plus $9,048 in "estimated other compensation."

Second highest was John Rogers, president, at $18,000.

Among liabilities was a bank overdraft of $478,028.

Employees who had ties with corporate officers were listed as Maija Gates, daughter of executive director ($63,412); Colleen O'Connell, wife of treasurer ($61,770); and Eddie Ibrahim, former board member ($61,303).

Download a copy of the 990 filing at the bottom of the page here:

http://www.sandiegoreader.com/documents/2011/jul/08/comic-con-09-990/

Here's something you might be interested in.
Submit a free classified
or view all

Previous article

Todd Gloria gets cash from McDonald's franchise owners

Phil's BBQ owner for Larry Turner
Next Article

Halloween opera style

Faust is the quintessential example

Streetlight banners are up, the schedule is being dribbled out a day at a time to increase suspense, bouncers and bartenders are poised and at the ready, Gaslamp is bracing for an endless traffic jam.

In short, it's time for rabid accounting fans to put on their green eyeshades and review the latest available 990 IRS filing for Comic Con--courtesy of the website Guidestar.Org--to see how much cash the global fiction-frenzied hordes have bestowed on what is arguably San Diego's most famous non-profit--though the group is actually headquartered in La Mesa.

It may be hard to remember, but there was a time when the Union-Tribune questioned the non-profit status of the event, now frequently cited by Mayor Jerry Sanders, city councilman Kevin Faulconer and their posse of boosters as one of the main reasons a lavish new tax-financed addition to the convention center is required here.

Back in July 2007, the paper reported: "As such, the pop-culture extravaganza, which generates about $5 million in revenue each year, is exempt from income taxes and pays less in city traffic-control fees."

Daniel Borochoff, president of the American Institute of Philanthropy was quoted as saying, "The people who appear to be profiting are the pop-culture purveyors who have a great marketing opportunity there."

Here's that story:

http://www.signonsandiego.com/uniontrib/20070725/news_1n25charity.html

Back then, the U-T piece reported that in 2004-05, Comic-Con, according to its 990 IRS financial disclosure form, had total revenue of $5.2 million, expenses of $4.2 million and net assets of $3.8 million.

Things have gone radically uphill from there, according to the group's most recently available 990, covering the period between September 1 2008 and August 31 2009, and stamped received by the IRS last July 19.

By then, gross receipts for the non-profit, which conducts other, smaller events besides the world-famous summer extravaganza here, were $9,169,302 and expenses were $8,213,846, bringing net revenue to $955,456. Net assets were listed at $7,783,375 at the end of the period.

The highest paid officer was listed as executive director Dona Fae Desmond, who worked a reported 50 hours a week for $84,742 in annual salary, plus $9,048 in "estimated other compensation."

Second highest was John Rogers, president, at $18,000.

Among liabilities was a bank overdraft of $478,028.

Employees who had ties with corporate officers were listed as Maija Gates, daughter of executive director ($63,412); Colleen O'Connell, wife of treasurer ($61,770); and Eddie Ibrahim, former board member ($61,303).

Download a copy of the 990 filing at the bottom of the page here:

http://www.sandiegoreader.com/documents/2011/jul/08/comic-con-09-990/

Sponsored
Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Real estate bubble still popping

Jeffrey Lubin, who said investors could get 17 percent a year, files for bankruptcy
Next Article

Tricks the big boys play on IRS

Trusts, charities, claims against the 16th Amendment
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader