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Thread: Sens foundation, Sens no longer together

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    Default Sens foundation, Sens no longer together

    I swear this team just tries to do things on purpose that make them look bad in the public's eye.

    The charity and the team are parting ways. Here is a good breakdown on why: https://ottawasun.com/news/gibbons-s...mpression=true

    TLDR; It's all about the money. Melnyk charges the foundation hundreds of thousands of dollars a year in rent, and also wants a say in where the money raised by the charity goes.

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    Default Re: Sens foundation, Sens no longer together

    Quote Originally Posted by newfcollins View Post
    I swear this team just tries to do things on purpose that make them look bad in the public's eye.

    The charity and the team are parting ways. Here is a good breakdown on why: https://ottawasun.com/news/gibbons-s...mpression=true

    TLDR; It's all about the money. Melnyk charges the foundation hundreds of thousands of dollars a year in rent, and also wants a say in where the money raised by the charity goes.
    Heard this on the radio yesterday. They also talked a lot about how the Ottawa Senators are one of two NHL teams that has not comments on Black Lives Matter; the Sens Foundation twitted about it the day before the press release announcing the split. What a M-E-S-S.

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    Default Re: Sens foundation, Sens no longer together

    Wasn’t Justin Bieber trying to buy the franchise? Most anything would be an improvement from Melnyk. And then we could have the made-for-tv, charity Binnington challenge. LOL
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    Default Re: Sens foundation, Sens no longer together

    The root of the problem lies in a misperception held by Melnyk from the outset of his ownership regarding how the foundation fits into his franchise. He sees it as an extension of the business as opposed to a quasi-independent entity with its own mandate and charter.

    Another sore point has been the high rent Melnyk charges the foundation. It’s in the hundreds of thousands of dollars annually, I’m told. Charging rent is not believed to be a common practice by other sports franchises with charitable foundations.

    Two years ago, a study by Charity Intelligence Canada concluded that the Senators Foundation directed less than half the money it raises to charitable projects. The rest was taken up in fundraising and administration costs, including rent, presumably.
    Not a good look for the Franchise or the Owner. The sooner Melnyk sells the team
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    Default Re: Sens foundation, Sens no longer together

    It is sadly pretty common for charitable organizations to be not very good about getting money to the causes they want. Having a say in where the money goes isn't actually too terrible, but he's charging the rent so that he can (shocker) make money off the charity.

    One of the few good things to come out this pandemic will be the realization for many non-profit organizations that having to pay high rent to maintain offices is not as necessary as they thought.
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    Default Re: Sens foundation, Sens no longer together

    Just to add to this, the Sun has a scathing column about Melnyk yesterday. (https://ottawasun.com/opinion/column...be-a-messy-one)

    When talking about Melnyk's organ donation charity:

    According to Canada Revenue Agency filings, the Organ Donation Project generated $991,708 in revenues in 2018, primarily thanks to a big charity gala it staged in Toronto. No doubt, that $100,000 Senators Foundation cheque helped.

    So what happened to all that money? Again, according to CRA filings, The Organ Project invested barely $5,000 of the nearly $1 million it raised on organ donor awareness. For those without a calculator, that’s 0.49 per cent, or less than half a cent for every dollar raised. And yet the Sens Foundation is being attacked for investing about 50 cents on every dollar it raises on programs. The hypocrisy is stunning.

    So, where did all The Organ Project money go if not to worthy causes? According to CRA, a whopping $779,464 went to cover fundraising costs. Another $238,118 went to management and administration. I’m told these are the kind of results almost certain to draw the attention of the taxman.

    The Organ Project is registered as a “private foundation” and, as such does not require an arm’s length community board of directors overseeing operations as does the Ottawa Senators Foundation. Instead, it appears to have only one director: Eugene Melnyk.

    Writer of the weekly Top 10 column.

    12-team Keeper pool, straight points for forwards & dmen. Goalies get: 2 points per win, 3 per shutout, 1 point per assist & 1 point per shootout loss.

    League champ in 2013, 2015, 2018, 2020 and 2022.

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    We keep 15 players (any position) plus two rookies.

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    Defence: Hedman, Fox, Matheson, Thrun, Jiricek
    Goalies: Kochetkov, Talbot, Vasilevskiy, Campbell, Schmid


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    Default Re: Sens foundation, Sens no longer together

    Quote Originally Posted by newfcollins View Post
    Just to add to this, the Sun has a scathing column about Melnyk yesterday. (https://ottawasun.com/opinion/column...be-a-messy-one)

    When talking about Melnyk's organ donation charity:
    I read that article yesterday, or something very similar. And I know it sounds shady, but I couldn't really understand why. Is it because it appears Melnyk started this charity so he can get his own organ transplant sooner?
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    Default Re: Sens foundation, Sens no longer together

    Holy crap. I get pissed when it’s Lea than 75c per $1 for things I’ll donate to. Those numbers suggest worse than poor management - somebody’s skimming imho.
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    Default Re: Sens foundation, Sens no longer together

    The Sun has had to apologize for its columns (Twitter link below):

    https://t.co/vN0XTrCBzv

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