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Alcor finance, or irresponsibility for its members?

June 13 2010 at 2:09 AM
Finance Department  (Login Finance_Department)
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I just found this on the Alcor weblog (since it was just posted there though from 5 days ago and maybe by now a board meeting ago):

[Executive Director's Report - June 5, 2010

On the financial side, the A/R report indicates collection efforts are warranted for delinquent membership dues and CMS payments. The total outstanding balance for those 61-90 days past due is ~$13k and those over 90 days past due total ~$72k. This represents a 5% increase over the past two months. Bonnie plans to send duplicate invoices and/or collection notices to the members who are behind on their dues.

Respectfully Submitted,
Jennifer Chapman
Executive Director]

First, to point out, "Executive Director" is not a real position. Jennifer is really and actually the President of Alcor, as confirmed by her own statements and signatures on official documents.

Most importantly, it appears from the above material posted to Alcor's weblog that Alcor is mainly interested in whether it's faux members pay, than in actually knowing where its members are and their condition and status!

Hey, send them duplicate invoices and collection notices. Well, then, why not just refer them to collection agencies also, and put nasty remarks in their Transunion, Experian, etc. accounts?!

How is any of that going to get them the service they need when they deanimate (Alcor term)?? For all Alcor knows, many of them may be already dead.

Or is it that all they care about is the money? I know there are readers here who would love to have support for thinking that. I am pretty sure it isn't so, but the actions described above speak otherwise!!!

Ever onward,

FD

 
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TWrelated
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That's a lot of money

June 13 2010, 10:09 AM 

to be owed. I can understand them going after it...

 
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unperson
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math

June 13 2010, 10:37 AM 

----------------------
On the financial side, the A/R report indicates collection efforts are warranted for delinquent membership dues and CMS payments. The total outstanding balance for those 61-90 days past due is ~$13k and those over 90 days past due total ~$72k. This represents a 5% increase over the past two months. Bonnie plans to send duplicate invoices and/or collection notices to the members who are behind on their dues

-----------------
since dues are $150/quarter (90 days) and since you have 13K owed over about an average of 75 days, you could estimate that an average of about $130 owed per member who is overdue 60-90 days. So that is about 100 members who are 60-90 days late. Out of about 900 or so total alcor members.

As for the group who are over 90 days past due and owe a total of ~$72k, there is no way of knowing how long the average duration of arrears is, so it is hard to say how many members are behind more than 90 days. Let's say an average of 12 months behind, just for estimation purposes. So that is $600 total owed on average. So that is about 120 members who are more than 90 days behind.

220 members out of 900 behind on their dues. And increasing. I do some work in the debt collections field and that fits in with what I have seen. The rate of payment is decreasing. The economic situation is worsening.


 
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(Login advancedatheist)
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Your law career going bad, Un?

June 14 2010, 12:03 AM 

I do some work in the debt collections field


Next stop, preparing other people's tax returns, like Dan McIntyre's last job before he committed suicide?


    
This message has been edited by advancedatheist on Jun 14, 2010 12:03 AM


 
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Finance Department
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I'm all for Alcor getting paid, but ...

June 13 2010, 12:46 PM 

... how can they be so out of touch with their members that so many can be behind in dues payments? I guess it means they have no ongoing process of regular communication with members. One would think they would see the need for that, including periodic health monitoring. A report every few months even if it is "I'm still ridiculously healthy - no changes". Wouldn't Alcor benefit from knowing when a member's health is starting to go downhill? Shouldn't they be involved in ensuring such members' funding is secure from relatives, standby arrangements planned for, not to mention dues current?

The obvious lack of such a process is what leads to situations where an Alcor member dies and gets buried by the next of kin, and the first Alcor hears of it is when next of kin calls and wants the money back. Those kind of members are also likely to be behind in their dues.

The above is all part of the non-involvement paradigm most Alcor members fall into, fully supported and encouraged by Alcor's board which does not want the member to have any rights (read: to vote for who is on the board) or even to hear from them on issues.

Bottom line: If Alcor wants to get paid, they need to do more to get their members to care about it and matters in general. Not turn their own members over to collections.

Finance Department

 
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