Financial and organizational transparency is very important to us. The purpose of this page and other pages in this section of the web site is to inform anyone who is interested about the what and how of the business side of the Vegas Vortex.
Vortex as A Business Structure
For a long time, Vortex events were held under the auspices of McBride Magic which is wholly owned by Jeff McBride. As the number and complexity of these events has grown, it became clear that the Vortex had a life of its own, and would benefit from separate accounting and management.
Accordingly Jeff and Abbi McBride began the process of forming and incorporating Vortex Productions LLC as a separate business in early 2005. Vortex Productions LLC is incorporated as a Partnership in the State of Nevada. We file a federal tax return annually which includes Schedule K’s for each partner. We hold a sales tax license in Nevada.
Running the Vortex as a business allows us to reserve venues, obtain event insurance, and keep a business bank account to operate from which is distinct and separate from any individual person’s finances.
We also feel that no one individual should unduly carry the burden or the expense of organizing and running gatherings and events which benefit the entire community. Therefore each person attending is asked to contribute both financially and energetically to the event process through paying registration fees as well as spending time and energy working to set up, clean up or participate in some other way while on site.
It is our intention to price Vortex events so that they are both affordable and so that all expenses are covered. Accordingly we do budgeting for each event. Unfortunately, even the best budget is still just an informed guess. Unexpected expenses can arise, low registration numbers can happen, and corporate overhead expenses not related to specific events also have to be covered by registration monies since that is Vortex’s sole income source.
Fair Energy Exchange scholarships are offered to most events so that people who want to participate but are financially challenged can give some extra energy to the gathering rather than pay registration fees.
Profit is technically any money remaining after expenses have been deducted from income.
By that definition, Vortex Productions LLC does show a profit. Obviously the business would not stay open very long, nor many more events get organized for the community if we priced our events such that we operate at a loss!
In addition we have hopes and plans to provide additional amenities at future events, perhaps even to own our own land for an event site some day. Some profit has to be generated and saved up inside the business to work towards these goals, and to purchase things like the really nice drummer benches we acquired last year.
The best we can do is price registration reasonably, make sure known expenses are covered, and that there is some padding (which sometimes becomes profit) left in case of the unforseen circumstance that might occur.
Under the current arrangement, Jeff & Abbi are each 50% partners. The way the Federal tax system works, each of the partners pay individual income tax on profit shown by the Vortex partnership, whether the cash is actually distributed to them or not.
Jeff & Abbi
We no longer believe in making a profit from spiritual work. Alchemists have an expression, “aurum non vulgarum,” which means “not vulgar gold.” Alchemists strive for spiritual gold, and when the pursuit of physical gold draws the attention of the practitioner, the work is doomed.
The profit distribution that went to Jeff and Abbi from the Vortex in 2005 was used to purchase a trailer. That trailer is now used to store all the physical stuff that the Vortex uses and it is handy to transport the goodies out to the gathering sites. As we refine our business process and practice, we will evaluate whether or not it makes business & financial sense for the ownership of the trailer to be transferred to the Vortex business as an asset or not. In any case it is wholly and strictly used for Vortex event benefit now.
Future profit shares designated for Jeff & Abbi will either be re-invested in the Vortex to acquire assets to use at the events, or will be donated to charitable ventures such as the Goddess Temple outside of Las Vegas or other worthy causes and entities.
Managing a business takes time and energy. The time we spend creating and facilitating the fires and workshops is done for fun and love and magick. (We could all make a lot more money spending our time in other ways!) But things like balancing the bank accounts, buying event insurance, answering questions about registration, preparing printed materials for the event, manning the check-in desk all day at the event, and filing taxes isn’t much fun; in fact is it just plain work, but it still has to be done.
The Vortex employs a couple of people to handle tasks such as registration, accounting, and other jobs related to managing the business. These people are compensated for their time and work, and travel expenses to attend Vortex events.
Vortex profit distribution is only a very small piece of income, but it does allow time to be spent on doing this work, including travel to and from some of the events.
We believe in transparent financial accountability, honesty, integrity, compassion and kindness. You can expect to see accounting for all Vortex events posted here following each event, including a report of the number of scholarships and/or donations to charity that are made with any profits produced.
The links on the left will allow you to see detailed information about financial budgeting, income and expense, and profit and loss for the Vortex as a business. We will be as prompt as possible in posting information at the end of each event, but it does take some time to close the books after each gathering.
We invite you to review the detailed financial information and if you have questions, please send an email to [email protected].