We were given this picture of the P&L sheet that had been posted to the realtor's website when the ranch was first listed in response to Frank Mendocino's comment on the article last week. It appears that Mr Frank Mendocino is still parroting this concept as an excuse to have sold this ranch and fulfill their initial plan, which was to sell it, giving credence to the complaint from the public, industry and even members of the UW faculty that there was no real intent to use it... in the first place. Numbers and tax records have jailed many a mobster, corporation and businessmen in the history of income tax. Perhaps it is time to jail a university foundation or two even though they are nonprofits. This P& L shows the timeline of the aggressive depreciation that began in 2001 to cover the additional income from herd depopulation during that period of drought to maintain the illusion that there was no net profit. Through 6/30/2012 when the depreciation ends, there was $1,466,568 in net operational income and during that time frame $1,491,277 in depreciation expenses. One lean-to, a few solar panels, two overhead cake bins, paint and shingles on two houses and barns, continuous fencing, four pickups, a few trailers, a processing alley, a modular home and a hydraulic chute should not be near this amount of depreciation.This schedule of P&L does not include the banner years of 2013-14's abundant profits, with aggressive depreciation being stopped in 2012 when they anticipated the original sale. In actuality, they anticipated that sale so they ended the frivolous depreciation because by then they had sold the idea for ten years on the street and to the IRS, that the ranch made no net profit.
A great editorial by Donal O'Toole: "It would be interesting to know whether Blalock disclosed to Amy Davis he was the beneficiary of an incentive scheme when the foundations insisted that a provision be added for selling the ranch after 14 years if it did not meet expectations as a teaching tool. Bringing home $10 million to the foundation gets Blalock a lot closer to maximizing his annual bonus."
If you'd like to know the purchaser, you may contact the Albany County Assessor's office, as this is public information. We did, and the mainstream media didn't seem to do their due diligence to find this info. The purchaser is listed at Press L III, LLC.
Gov. Jim Gehringer's comment is spot-on: "If the two universities could have been more effective with the money than the ranch, the donor would have sold the ranch herself, at a much better price, and given the cash directly to the universities. She saw higher value in what the ranch and its operations could pass along to students for many generations. Instead, the boards of trustees envisioned a bank account without a soul. Neither university should be run as a profit center.... Rather, they should endow the passing of the heritage and values of what makes our two states unique. For us I say. Wyoming is what America was – and what America ought to be. So – trustees: you violated your very title. Trust is never taken. Only you can give it away. And you did. In biblical terms, you sold it for a mess of pottage."
Hello to all of you who have supported saving the Y Cross. The ranch has sold, despite all best efforts to maintain this extraordinary piece of land and the opportunities it was meant to offer students. Alas, the universities have chosen a short-sighted monetary gain over long-term learning programs. Let this be a stern warning to anyone who ever considers donating to these universities: education is secondary to financial gain, and they don't honor donors' intentions. We're sure more information will be forthcoming, but thank you all for your hard work in fighting a good fight and standing up for what was right!
Check out this excellent essay by Donal O'Toole about all of the problems surrounding the UW Foundation and their blunders when dealing with the Y Cross.
Why can't Dean Galey say that the internship was at the Y Cross Ranch, a university-owned property? Because he never intended to use the gift, and he obviously wouldn't want the word to get out. He's a disappointment to education.
Here's what the students at UW found as an internship posting for the Y Cross. Why is this so cryptic, and why are they calling this a test for something that should have been in use for over a decade?
Maybe Paul Ludden, the internship coordinator, could answer that?
email@example.com • (307) 766-4213
It is with great sadness that we report Amy Davis, who donated the Y Cross Ranch to CSU and UW, passed away April 16, 2014. Her ashes will be spread on the Y Cross. Amy will be coming home.
The Wyoming State Supreme Court will not hear Amy Davis' appeal.
Now we need to be proactive in making sure the universities do not sell the ranch!
This is from 2005, but start reading about the Y Cross on page 6. We need to remind the universities of the purpose of this ranch.
CSU's student newspaper, The Rocky Mountain Collegian, published two pieces regarding yesterday's hearing in Cheyenne.
The Supreme Court hearing will be November 19th.
We need to pressure the universities not to sell, in case the court won't hear the case. Write to your newspapers and to the universities, and show your support for Amy Davis and the Y Cross.