Waterpark Information

This information has been

prepared from public records.
It is not an official document
from the Woodmen
Community Center, or the
Lions Water Adventure.

We used identifying marks for

clarity concerning the
organizations. If that upsets
anyone, we are happy to
remove them – but it will not
change the facts involved.
 Citizen Taxpayer’s Note
The financial picture can be very confusing because you have three entities comingling funds, and three
different expense buckets. You have some expenses that stay in Parks and Recreation, some expenses
that stay in Woodmen Community Center, and some that stay in the Woodmen Foundation. Some
revenue only flows to the Woodmen Foundation, and some stays at the Woodmen Community Center.

Additionally, expenses are hard to follow. As an example, the WCC would indicate they do not spend
much on marketing, but the foundation indicates it has spent 120K in the last 2 years marketing the
effort. Is the City of Kinston being misleading? No. This arrangement is just simply messy.

Passion for a particular outcome leads to confirmation bias. Facts are advisors to the wise.
 Is the Waterpark a
“Cash Cow?”

It is fairly easy for someone to repeat what they have heard. Sometimes the
originator of the information is not really trying to manipulate a situation, they
just don’t know any better. I don’t know if it is a “cash cow” or not, but I usually
like to verify financial information. Let’s look together:
 Water Park Revenue

If we add
waterpark admissions
+ facility rental
+ net concessions
(difference in concession
revenue minus concession
cost of sales)

= $639,328 in 2016
= $622,435 in 2015.

This data comes from the

Woodmen Foundation
Waterpark Revenue 2015 - $622,435 2016 Financial Audit, filed
with the NC Secretary of
Waterpark Revenue 2016 - $639,328 State.
 Note: We want to make
sure you understand we
are REDUCING the
expenses with the
adjustments we are
making below. (Modified
expenses are lower that
what is listed for “Total
Expenses”

We remove expenses for

contributed services, interest,
and taxes from the expenses.
We will ignore depreciation,
because it is a “non cash”
expense.

Waterpark Expenses 2015 - $570,715

Waterpark Expenses 2016 - $583,990
Source: Woodmen Foundation 2016 Audit filed with NC Secretary of State
Per their audit, the centers incur
certain management and other
expenses that are difficult to assign
to on specific area, so they are
lumped together under the area of
“Supporting Services.” Some
amount of this number comes from
the Waterpark Operation. We used
33% to come up with this expense
allocation above. We feel this is
reasonable, but even if you don’t
agree, the change is not material.
Conclusion?

Tax returns filed by the Woodmen

Foundation with the IRS, and reported
in their audited Financial Statements
indicates the rumors of the Water park
being a cash cow are, unfortunately,
only rumors.