Jump to content


Photo

SHN Payback has a new website


  • Please log in to reply
249 replies to this topic

#21 arab01

arab01

    Advanced Member

  • Members
  • PipPipPip
  • 871 posts
  • Gender:Female
  • Location:Evans,Ga
  • Interests:My family and Arabian horses!

Posted 03 February 2010 - 03:58 PM

I am completely an outsider on the PayBack program as my horse is a gelding and not
part of this program but I'm on the H/J committee and needless-to-say a friend of Peggy's.

I know that both Peggy and Laura have worked hard to bring this program into the mainstream of the Arabian world. But as in any partnership issues arise and to be
honest, I had no idea Patience was even involved.

I will probably get slammed for this but as a friend to Peggy, I can't even imagine her
doing anything to impare this program that she gave hundreds of hours too -- Perhaps we
are looking at misunderstandings or miscommunations -- I will never believe Peggy did anything wrong or underhanded ---- JMO from outside the box.



I agree! I hope this all boils down to a misunderstanding... And I don't think anyone thinks Patience would be anything but an asset to the program, we are just suprised to hear of her involvement. After all Peggy's hard work I just hate to see her go! You guys have been a great team and gotten a lot accomplished.

Back to my origional question "How are members of the BOD selected?"
Kristie Heath Putt
Shenandoah Stables
Evans,Ga

www.shenandoahstables.com

#22 pegasus

pegasus

    Advanced Member

  • Members
  • PipPipPip
  • 1,111 posts

Posted 03 February 2010 - 04:44 PM

The normal procedure is, file articles of incorporation, hold the first organizational meeting, name the board of directors and adopt by-laws outlining the operating procedures. The by-laws also outline the procedures for adding or eliminating directors.

My understanding is: Since we have no such by-laws, and Payback is in essence a partnership, we BOTH would have to agree to directors to add, then adopt by-laws. That has not happened. I also understand that it would be illegal for either of us to act alone.

I should add that Patience did support the idea of a true BOD, and even endorsed the person I had in mind. She must have discussed it with Laura at some point, as she told me Laura didn't want anyone else added because no one would ever agree on anything.

For those that have asked, here is the IRS application for non-profit status, listing the directors and a recent copy of our tax return for 2008 listing them as well. As you can see, only two directors. Same with the bank account applications. Hope these attachments work!

Attached File  f1024.pdf   426.22KB   123 downloads

Attached File  Complete Return for SHN2.pdf   65.03KB   117 downloads

#23 HGEsquire

HGEsquire

    HG Esquire+

  • Members
  • PipPipPip
  • 8,321 posts
  • Gender:Female
  • Location:Rolling Hills of Virginia
  • Interests:I treasure my children, all my grandchildren and of course my dear husband Robert. I place high value on my family and are endeared to our horses and good friends. What else is there????

Posted 04 February 2010 - 07:59 AM

I am hopeful this will be worked out without a huge dent/decrease in the Payback Program Participants desire to be involved. This is another sad situation that I truly hope rectifies itself for the good of the program and all of it's participants!

Denise Gainey

HG Esquire+, Rated 'E' for EVERYONE
GCA & Sport Horses on Facebook

 

Where Quality & Friendship Matter!


#24 pegasus

pegasus

    Advanced Member

  • Members
  • PipPipPip
  • 1,111 posts

Posted 04 February 2010 - 01:00 PM

Id like to explain how the banking was conducted for the last two years, just for clarification.

When we started, I was told to open a checking and savings account here locally at Bank of America. Meanwhile, Laura started applying to her bank, Pentagon Federal Credit Union, for a Money Market and a Share account. Once that was opened, I closed the BOA savings and deposited those funds, by mail, as they arent a brick and mortar bank, to the Pen Fed money market. (I had to personally pay $20/year to be eligible to even be on an account at Pen Fed as it is for military only!)

When we added Paypal, it was linked to both the Pen Fed Share account and to the BOA checking account. When a purchase came thru Paypal, I would transfer it to PenFed Share, then into the money market. (Pen Fed had advised against linking Paypal directly to the MM.) When I was collecting for our co-op ads, that $ went into the BOA account, so a check could be written to the publication later.

If a stallion purchase was made by check, I would mail that to the Pen Fed money market account, which worked fine for a while. In late 2008 though, a couple of checks mailed to Pen Fed didnt get there for close to 2 weeks! I notified the people involved to stop payment and reissue in case something had happened. It was embarrassing and cost us money.

After that, I decided it was safer to deposit other peoples checks here in the local BOA account, then write a check out of there to mail to Pen Fed. (Laura was aware of this, as we spoke DAILY on the phone.) That way, no one elses checks were in danger of being lost. (I did try transferring electronically thru Paypal, but that was really a slow process.)

The BOA account has been in place for 2 years now. Laura never asked to be added as a signor on that account until November of 09. (Seeing how she was in Kuwait, it became difficult to do so at that point.) She had always had complete on-line access to all 3 bank accounts since they were opened. I assumed throughout this time Laura had been accessing them whenever she wanted and if she had any questions, she would have asked. She never did.

I have not had access to the Pen Fed accounts since Laura changed the log-in and password on December 8th, even though there was little money in them, as I had moved it to BOA for safekeeping until the bond came thru. She has refused to send me copies of the monthly statements, so I had to pay for hard copies to be mailed to me in order to finish the bookkeeping and give them to the CPA. The most recent I have is Dec. 20, 2009.

After I mailed the $20K to the Money Market that I had tried to secure with the bond, I also mailed to Laura the checkbooks for that account as well. The plan is to close the BOA account too, after the last bill to AHA for advertising is paid.

I have continued mailing deposits to Pen Fed in good faith (see below). Laura has now ordered me to send checks that I have received from customers to her in Kuwait! Yikes.

For those of you who have asked, the address the new Payback site lists for mail is that of Lauras mother, as is the phone and fax number.

PAYBACK ASSETS:
Account balance in Pen Fed Money Market on Dec. 20th was $99.83
Share Account balance Dec. 20th $12.14
Bank of America Checking Dec. 31st $21,691.93 (after all prize money checks had cleared)
Paypal balance Dec. 31st $ 553.55
Accounts Receivable $ 3,281.00

Deposits made by me into Pen Fed since 12/20/09
12/21 $2075
1/1/10 $500
1/5/10 $750
1/6/10 $375
1/7/10 $425
1/8/10 $2300
1/9/10 $12.26 (cleared out Paypal to close it)

The $20K transfer check to Pen Fed from BOA cleared on 1/4/10
A refund check from BOA to a buyer (the stallion died) for $375 cleared on 1/4/10.

The current balance in BOA is $1316.93. I currently have checks totaling $1585 to deposit to Pen Fed.

Any questions I'll be happy to answer, as always.

Peggy Ingles
pegasus44@verizon.net
410-823-5579

#25 pegasus

pegasus

    Advanced Member

  • Members
  • PipPipPip
  • 1,111 posts

Posted 05 February 2010 - 10:34 AM

I have a question for Laura:

Why does your new website say that I turned in my resignation as a Director in 2009 when we all know that never happened? (And announcing new "Directors" that were never approved by the current BOD?)

I was never notified of a Board meeting of any type to discuss these changes, as is required by Md. State Corporate Law.

If one wishes to promote trust, it is imperative that one be honest first.

Peggy Ingles
pegasus44@verizon.net
410/823-5579

#26 crfarm

crfarm

    Advanced Member

  • Members
  • PipPipPip
  • 1,287 posts
  • Gender:Female
  • Location:kentucky

Posted 05 February 2010 - 12:16 PM

As a stallion owner who has donated a breeding, this causes me great concern.
Stephanie and James Lynn JR
Home of the straight egyptian treasure MCF Nicole (Ruminaja Bahjat x SF Bint Sonbolha) my dream fulfilled

Visit My Website

#27 rroyalee

rroyalee

    Advanced Member

  • Members
  • PipPipPip
  • 1,429 posts
  • Gender:Female
  • Location:West Point, Utah
  • Interests:My girls Rroyalee, Nacacijin DSZ, Saudii Fadmar, Rifaffs Saable Rouge, Rifraffs Royale Gin, Burtanna, and my boys Allahs Sukkar Abiad & Royale Sumernitz.

Posted 05 February 2010 - 12:34 PM

As a stallion owner who has donated a breeding, this causes me great concern.


Same here. Peggy has been so wonderful working with me and my stallion. She has done wonderful with this program. I am very concerned with what's going on. And with what has been mentioned earlier, I really hate to see any negativity brought to this program. It was the one program I really loved to brag about to people who have Sport Horse foals out of my stallion that compete in all the sports. I really hope this gets fixed. Peggy is a real asset and such a hard worker.

Double Starz Ranch
Senior stallion - Allahs Sukkar Abiad
Junior stallion - Royale Sumernitz
www.doublestarzranch.com


#28 spiritthyme

spiritthyme

    ST

  • Members
  • PipPipPip
  • 9,805 posts
  • Gender:Female
  • Location:Central, OK
  • Interests:Topez & Spirit, of course !

Posted 05 February 2010 - 01:00 PM

Me too :(

Spirit Thyme ( Pryme Thyme X Kendrid Spirit YW ) 2003 Chestnut Gelding

Topez ( *Pesniar X DW Baskala by *Bask ) 1982 Bay Stallion

Spirit's Finale' HT ( Spirit Thyme X Halima El Jamaal ) 2013 Grey filly


#29 Tamcam

Tamcam

    Advanced Member

  • Members
  • PipPipPip
  • 8,052 posts
  • Gender:Female
  • Location:Northern California

Posted 05 February 2010 - 04:56 PM

It really would be nice if Laura or Patience or Nicole could come on here and answer the questions presented. The silence is not helping. Too many concerns and speculations has created bad energy surrounding this wonderful program.


Posted Image

Copyright 2011


Posted Image


#30 Dreamcatcher

Dreamcatcher

    Advanced Member

  • Members
  • PipPipPip
  • 7,268 posts
  • Gender:Not Telling

Posted 06 February 2010 - 09:42 PM

I agree Tamara, So far, all I see are unfounded accusations and innuendoes made by Ms. Woods towards Ms. Ingles. The only hard FACTS on this whole thread have been presented by Ms. Ingles.
It also concerns me that the money paid for breedings is going to her (Laura's) mother in Cascade, Idaho (up in the mountains, tiny tourist town). Is she an elected Treasurer? Another "BOD" member? Still waiting to see if there are going to be by-laws, an actual "new" board, anything in the way of a legal document that states , specifically, how this "reorganization" is being set up and run.

The other BOD members mentioned...if either or BOTH of you would weigh in here, might alleviate some worry and confusion. Give us legal documentation please. This has been a wonderful program, by remaining silent, I am beginning to think "something is amiss here."

I, and many others have stallions in this program. How are people going to continue to feel comfortable giving the program money for breedings if they aren't comfortable knowing the "mess" that is being created is not being straightened out legally and fairly, but instead, beginning to look like a "railroading" of the most visible, hardest working person involved?
You owe it to stallion and mare owners alike to provide us with documentation that shows us the legality of all of this, up to and including how the funds are going to be handled in the future, any state records of reorganization, etc. If my stallions didn't have babies out there showing in hopes of benefitting from this program, I would be tempted to pull them. I haven't because I feel an obligation to those owners. So let's have all of the "new order" come on and give us the "new SHN Payback legal info, please! JMHO



I was hoping this would just shake out and be a done deal here in a couple of days, but I'm starting to get a very queasy feeling about all this. Can someone in the "new order" please step forward and put some cards on the table? Otherwise I really will have to consider pulling svs Il Divo from the program BEFORE he has any mares bred. I can't afford the liability this is going to cause for stallion owners.

Pat Lowe