/cgl/ - Cosplay & EGL

Otakorp puts on Otakon, an anime convention now in DC.
Budget meeting this month to finalize a $ 500,000 loan plan. Many mistakes that basic forsight could have avoided thru better leadership have cost Otakorp over a million dollars.
Once the outstanding debts Otakorp has are paid, they're so far in the red right now that they need pre reg to open early (december) and do well and/or get the $ 500,000 loan just to exist past Otakon Vegas. Otakon Vegas has cost Otakorp over a $ 100K a year, but bad staffers wouldn't let it die before now. This was a passion project that violated the ethical and legal requirements to be on a Non Profit Board.
Even with the loan, if Otakon DC 2018 does not seriously out perform Otakon 2017 membership wise, Otakorp will be in the same situation it's in now also dealing with loan payments and an inability to take a second loan and will bankrupt. It's going to take an eight thousand membership spike from the 2017 con turn out to save Otakon.

Why am I putting this here? The Board and the Staff have lengthy discussions about the problem. There are years of issues, inquiries, ect into some of the bad decisions that continued. The board and voting members debated, but those with the most pull always got their way. They have failed the attendees and as a non profit answer to them. If Otakon is a convention you hit up, things are looking really bad. They have an obligation to be more transparent and work to prevent the mess they've created from fully imploding. Even writing this, I've betrayed them but honored the membership.

Otakon attendees, I'm sure some of you will read this. Let it spread like wild fire. I can't talk on this beyond anonymously or the powers that be at Otakorp will use ties they have with other conventions I also work to black list me from doing what I love. They had huge rainy day funds they tore thru, and those funds were from attendees.