[Fmpro] ASCAP & Taxes

[Pete]

I wonder how many people request that data from ASCAP.
I wonder how much it would cost to compile and report
that data. I wonder how many people would be willing
to pay for that data. Not that it's not do-able, but
everything costs money.

P e t e
S u r d o v a l

--- Mark Northam <mnortham at gmdgroup.com> wrote:

> This brings to the forefront an interesting
> accounting reality at ASCAP...
> 
> They say their overall operating expenses are 12% of
> income, however that
> includes 12% of ALL income, including foreign
> royalties paid to US writers
> via ASCAP. Now, assuming ASCAP takes only 4% off the
> top of all foreign
> incoming royalties (it's a very, very good question
> as to why they don't
> list the "gross amounts" - that is the amount
> actually received by ASCAP on
> behalf of it's writer member on the writer's
> statement), that means they
> would have to take a lot more than 12% out of the
> domestic income in order
> to have the overall blended rate end up at 14%
> overall.
> 
> And since the vast majority of foreign royalties
> received by ASCAP are for
> writers, who aren't allowed to collect it directly
> from foreign societies
> (without resigning from ASCAP internationally) the
> way ASCAP's US publisher
> members are (yet another injustice and example of
> double standards at
> ASCAP), it's a fair conclusion that ASCAP's writer
> members bear a greater
> expense of the ASCAP Operating Expenses than the
> publishers do.
> 
> If any other financial organization that handles
> hundreds of millions of
> dollars of other people's money refused to list the
> actual amounts received
> on behalf of their members on member statements,
> they'd be in hot water in
> an instant. Yet, at ASCAP, they do it with impunity.
> I wonder why that is.
> Can you imagine a statement from your bank, stock
> brokerage, investment
> house, etc that only listed your balance, and didn't
> list any of their fees
> that they took out of YOUR money?
> 
> Just remember... The numbers on your ASCAP statement
> represent only what was
> left after ASCAP took their "share" as a fee for
> sitting on your money for
> whatever number of months they chose to do so. The
> fact that they do not
> disclose their fees and deductions for these
> incoming foreign royalties on
> their statements is troublesome to say the least.
> The fact that they go
> further and prevent members from communicating
> directly with the
> organization that sent the money (the foreign PRO,
> etc) only makes things
> that much worse, is it's now impossible to confirm
> the correct amount paid
> with the source who paid it.
> 
> Imagine if your bank told you, "Congratulations,
> we're paying you $9,245 out
> of money we received on your behalf from another
> country. We're not going to
> show on your statement whatever amount we decided to
> take as a fee, and
> we're not going to show you on your statement the
> original amount they paid,
> and we're not going to let you talk to the people
> that paid you the money,
> just trust is that it's the right amount because
> it's the only number we're
> going to show you on your statement. Please, stop
> asking questions and go
> back to writing your music."
> 
> More ASCAP "transparency" at work....
> 
> Best,
> 
> Mark Northam
> 
> 
> On 6/3/07 9:12 PM, "Pete" <musical411 at yahoo.com>
> wrote:
> 
> > 12%
> > 
> > --- leshurdle wrote:
> >> Ah ha...........  but how much of her income was
> >> taken away?
> > 
> > 
> >        
> >
>
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