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Then Get Them Yourself
Then Get Them Yourself
> Kim,
> I would really apprecaite a months end report for April for the
> entire business.
> Piper
> ----- Original Message ----- From: "Kim Helm" <kimberlyhelm@mac.com>
> To: "Kids In Motion" <kidsinmotion@yhti.net>
> Sent: Thursday, May 07, 2009 6:04 PM
> Subject: Re: Purchase of the Gym
>
>
>> Piper,
>>
>> If you need ink go get it and turn in the receipt. Stop involving
>> Janet in the operations of the business. You had no problem
>> spending 500.00 to paint the gym. This is getting out of control.
>> I am meeting with Greg tomorrow. When are you meeting with the
>> bank? This needs to get resolved. Your program was $1,100.00 in
>> the red for April and with the bills you sent over today you are
>> well on your way to going over budget again. The gym program is
>> draining the business. You need to get your loan figured out.
>>
>> Kimberly Helm, MS, CCC-SLP
>> Gateway Center for the Arts
>>
>>
>> On Thursday, May 07, 2009, at 04:23PM, "Kids In Motion" <kidsinmotion@yhti.net
>> > wrote:
>>> Kim,
>>> Nadiana will pick up the stuff from you tonight. I am sure she
>>> will not look
>>> at anything. As for a bank account, i did not set one up you told
>>> me not to.
>>> Piper
>>> ----- Original Message ----- From: "Kim Helm" <kimberlyhelm@mac.com>
>>> To: "Kids In Motion" <kidsinmotion@yhti.net>
>>> Sent: Wednesday, May 06, 2009 6:51 PM
>>> Subject: Re: Purchase of the Gym
>>>
>>>
>>>> The role sheets and copies of the tax returns are at the front
>>>> desk. I
>>>> would prefer for you to pick them up personally as I don't think
>>>> the tax
>>>> returns are anyone else's business.
>>>>
>>>> I am pulling financials together for Greg for my part of the
>>>> loan. I have
>>>> the information for the bank account for Helm & Hoemann and the
>>>> Gateway
>>>> bank account (which was set up with the fundraiser money). Did
>>>> you set up
>>>> a bank account for Kids In Motion? Greg will need any
>>>> information we have
>>>> on all bank accounts related to the business.
>>>>
>>>> Kimberly Helm, MS, CCC-SLP
>>>> Gateway Center for the Arts
>>>>
>>>>
>>>> On Wednesday, May 06, 2009, at 04:40PM, "Kids In Motion"
>>>> <kidsinmotion@yhti.net> wrote:
>>>>> Kim,
>>>>> I also need the role sheets for the gym classes for 2008. I need
>>>>> to show
>>>>> him
>>>>> enrollment numbers and tuition.
>>>>> Piper
>>>>> ----- Original Message ----- From: "Kim Helm" <kimberlyhelm@mac.com
>>>>> >
>>>>> To: "Kids In Motion" <kidsinmotion@yhti.net>
>>>>> Sent: Wednesday, May 06, 2009 11:14 AM
>>>>> Subject: Re: Purchase of the Gym
>>>>>
>>>>>
>>>>>> Piper,
>>>>>>
>>>>>> I have the tax info at the studio so you can pick them up
>>>>>> whenever you
>>>>>> have a chance.
>>>>>>
>>>>>> With regards to the loan, please keep me informed of your
>>>>>> progress. I
>>>>>> want to try to get this wrapped up before summer programming.
>>>>>>
>>>>>> In the event that you are unable to get the loan, there are other
>>>>>> avenues
>>>>>> to dissolve the business. That is not the most desirable
>>>>>> route, but
>>>>>> that
>>>>>> is my intention regardless of whether you secure a loan or not.
>>>>>>
>>>>>> Let me know if you need any other information.
>>>>>>
>>>>>> Thanks.
>>>>>>
>>>>>> Kimberly Helm, MS, CCC-SLP
>>>>>> Gateway Center for the Arts
>>>>>>
>>>>>>
>>>>>> On Monday, May 04, 2009, at 02:32PM, "Kids In Motion"
>>>>>> <kidsinmotion@yhti.net> wrote:
>>>>>>> Kim,
>>>>>>> As for the bank, Greg said once we have the split amount of
>>>>>>> the loan
>>>>>>> agreed
>>>>>>> upon, then he can help me try to get my own loan. I will give
>>>>>>> this email
>>>>>>> to
>>>>>>> my attorney along with the paperwork Tom gave me. Once the
>>>>>>> split is
>>>>>>> agreed
>>>>>>> upon then I will need 2007/2008 taxes to give to Greg. I will
>>>>>>> also need
>>>>>>> the
>>>>>>> gym role sheets, which you have, for 2007 (in the tax tub) and
>>>>>>> 2008 you
>>>>>>> took
>>>>>>> them with the payroll stuff from the filing cabinet. I need to
>>>>>>> show him
>>>>>>> number for enrollment. He said if it was close to a 50/50
>>>>>>> split then he
>>>>>>> would just go by the taxes for the business to figure out the
>>>>>>> loan.
>>>>>>> Again,
>>>>>>> If I am not able to procure a loan since at present I have no
>>>>>>> income to
>>>>>>> my
>>>>>>> name then some other kind of legal arrangement will have to be
>>>>>>> met
>>>>>>> concerning the loan. Thank you so much for the information. If
>>>>>>> you would
>>>>>>> please have the role sheets and tax documents for me on
>>>>>>> Thursday either
>>>>>>> Huntley or Nadiana will pick them up from the front desk
>>>>>>> during the time
>>>>>>> Nadiana volunteers for the studio. Oh, also while I was
>>>>>>> cleaning out
>>>>>>> some
>>>>>>> papers I found that copy of Ursula's drop notification for
>>>>>>> people to
>>>>>>> fill
>>>>>>> out when they stop attending. I will send that with Nadi on
>>>>>>> Thursday,
>>>>>>> along
>>>>>>> with a deposit and the packing slip for the medals. We missed
>>>>>>> Sophie and
>>>>>>> Corrine at the mini-olympics.
>>>>>>> Thank you,
>>>>>>> Piper
>>>>>>> ----- Original Message ----- From: "Kim Helm" <kimberlyhelm@mac.com
>>>>>>> >
>>>>>>> To: <kidsinmotion@yhti.net>
>>>>>>> Sent: Monday, May 04, 2009 12:59 PM
>>>>>>> Subject: Purchase of the Gym
>>>>>>>
>>>>>>>
>>>>>>>> Piper,
>>>>>>>>
>>>>>>>> I have spent a considerable amount of time working on the
>>>>>>>> split of the
>>>>>>>> business. Based on advice from my attorney and the
>>>>>>>> accountant, the
>>>>>>>> most
>>>>>>>> logical way to split the business is to do the following....
>>>>>>>> We simply
>>>>>>>> need to figure the value of the assets for each location, and
>>>>>>>> then
>>>>>>>> split
>>>>>>>> the remainder of the loan balance evenly. Based on the
>>>>>>>> information on
>>>>>>>> our
>>>>>>>> latest Tax Returns and Asset list, we have roughly $40,000
>>>>>>>> worth of
>>>>>>>> assets. Most of these assets are at the gym. The only real
>>>>>>>> assets at
>>>>>>>> the
>>>>>>>> Studio are inventory and other assorted items. Based on this
>>>>>>>> assessment,
>>>>>>>> the studio has about $7,500 worth of assets and the Gym has
>>>>>>>> about
>>>>>>>> $32,500.
>>>>>>>> Again, these are are hard numbers based on actual asset
>>>>>>>> valuations.
>>>>>>>> Understand that what we paid for the business has little to
>>>>>>>> do with
>>>>>>>> the
>>>>>>>> current value.
>>>>>>>>
>>>>>>>> Since our loan balance currently is about $150,000, we would
>>>>>>>> subtract
>>>>>>>> the
>>>>>>>> $40,000 in assets, which would leave us $110,000 to split
>>>>>>>> evenly.
>>>>>>>> This
>>>>>>>> equates to a purchase price for the gym of $87,500.
>>>>>>>>
>>>>>>>> I am ready to finalize this split. I need you to update me
>>>>>>>> on your
>>>>>>>> status
>>>>>>>> ASAP. I have asked you several times to let me know where
>>>>>>>> you stand
>>>>>>>> with
>>>>>>>> the loan, etc, but you have yet to get back to me. I need to
>>>>>>>> know
>>>>>>>> what
>>>>>>>> your intentions are so we can both move on.
>>>>>>>>
>>>>>>>> I am meeting with the bank this week to begin finalizing the
>>>>>>>> loan for
>>>>>>>> my
>>>>>>>> end. Let me know if you need any other information.
>>>>>>>>
>>>>>>>>
>>>>>>>> Thanks.
>>>>>>>>
>>>>>>>> Kimberly Helm, MS, CCC-SLP
>>>>>>>> Gateway Center for the Arts
>>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>>
>>>>>>
>>>>>
>>>>>
>>>>>
>>>>
>>>
>>>
>>>
>