A GOLD Coast Titans charity was paying the struggling club rent of almost $750,000 a year at the same time it was receiving $1.5 million of taxpayers’ money.
The rent for space at the Titans’ ill-fated Centre of Excellence peaked at $748,000 in 2011 before dropping to just $88,000 last year – despite Titans 4 Tomorrow increasing its programs tenfold.
T4T has 35 staff. It would not say how many staff were employed when it was paying the club $748,000 for office space at Robina.
The Gold Coast Titans ill-fated Centre of Excellence at Robina
The Gold Coast Titans ill-fated Centre of Excellence at Robina
A Bulletin search into company records also found:
- The organisation sought three loans - one unsecured of $350,000, another secured of $347,359, and one in 2013 from Gold Coast Titans Pty Ltd for $417,392.
- Received $2.3 million in Federal Government funding in 2013 and $1.35 million in 2012, and generated more than $3.5 million in outside sponsorship for that period.
- As of October 2013, had more than $1.5 million in liabilities
- Paid $370,000 and $237,000 in consultancy fees over two years
- Spent up to $45,000 each for luxury cars.
Managing director and organisation founder Michael Searle was unavailable for comment, referring the Bulletin’s questions to chairman Joshua Creamer.
TAKING QUESTIONS: Titans 4 Tomorrow chairman Joshua Creamer Picture: Tim Marsden
TAKING QUESTIONS: Titans 4 Tomorrow chairman Joshua Creamer Picture: Tim Marsden
Mr Creamer, who only became a T4T director late last year, defended the transactions, saying all loans, excluding motor vehicle finance, had been repaid in full.
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Since October 2013, the company’s liabilities had been reduced by $700,000, he said.
“Titans 4 Tomorrow Ltd directors commissioned a leading independent expert audit firm, Vincent’s Chartered Accountants, to undertake two independent audit reviews in 2013 and again in 2014 after the departure of senior management from the Gold Coast Titans to ensure the former finance staff and club management had adopted a commercial approach to transfer pricing between the entities,” Mr Creamer said.
“This reasonableness review examined transactions between Titans and Titans 4 Tomorrow for the years 2010, 2011 and 2012 and reviewed the costs and charges between the non-profit entity Titans 4 Tomorrow and the Gold Coast Titans. That report definitively concluded without exception or caveat that all transactions between the entities were reasonable and commercial.”
T4T was created in May 2008 to “provide services and assistance to people in need of relief including indigenous people living in remote areas within Australia”.
An NRL investigation into Gold Coast Titans’ financial affairs will scrutinise transactions for related bodies such as T4T.
Mr Searle, a major shareholder and board member of the Titans until his resignation this week, previously indicated he was “happy to fully comply with the NRL investigation”.
‘HAPPY TO COMPLY’: Titans founder Michael Searle - a board member until his resignation t
‘HAPPY TO COMPLY’: Titans founder Michael Searle - a board member until his resignation this week Picture: JERAD WILLIAMS
The records indicate T4T has increased its cash reserves to almost $300,000 after the available funds dropped to about $36,000 the previous year.
As the Titans property arm was bleeding with debts of up to $25 million in mid-2012 after legal disputes surrounding the building of the club’s Centre of Excellence headquarters at Robina, T4T provided rental payments of $748,381 in rent in 2011 and $412,765 in 2012.
These payments dropped to $88,655 last year.
T4T maintains it is separate from the club but documents show senior Titans employees were directors.
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The accounts also show, at October 2013, almost $840,000 was owed by debtors. “Yes,” Mr Creamer said. “The money owed by our sponsors and government has all been recovered.”
The latest financial statement shows T4T had, as of October last year, $1.2 million in total current assets and total returned equity or earnings of $100,292, up from $39,518 on the previous year.
In November 2011, three loans were obtained from St George bank to buy vehicles – Audi cars worth $45,000, $39,000 and $31,000.
“With 35 staff, and many who travel regularly between the Surat Basin and northern NSW, T4T has a range of vehicles.”
LEADING KIDS OUT OF DARKNESS
FOR Preston Campbell, the numbers not counted are the lives saved.
The former Titans captain has no knowledge of the NRL investigation that includes not-for-profit organisation Titans 4 Tomorrow or the intimate details of financial books, only that during tough times some friends on the staff had to be let off.
‘IT’S ABOUT TRUST’: Former NRL player Preston Campbell, an ambassador for Titans 4 Tomorr
‘IT’S ABOUT TRUST’: Former NRL player Preston Campbell, an ambassador for Titans 4 Tomorrow Picture: Adam Head
His humility would not even allow him to begin to calculate how many indigenous youths he has saved as an ambassador for T4T, his passion since retiring from rugby league.
Returning to Robina late this week, he recalls being out west near Roma where he encountered several teenagers, aware they were approaching what he calls the deep, deep, dark pit.
At 24 with the rugby league world at his feet, Mr Campbell descended into depression. At 37, the Coast father of three mentors those on the same journey.
“We may have saved a life there. That’s why we do what we do. I can’t stress how important this (organisation) is for the community,” Mr Campbell said.
“I’ve been working on this since I’ve retired. People still think we are looking for the next (rugby league) superstar. We’re not. We have to get the people’s trust, build up relations.
“At times, we have had to work really hard to get these people help – people who wanted to take their lives. They needed us.”
Mr Campbell is convinced the connection with the Titans remains critical because rugby league speaks all languages, breaks down barriers.
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Up to 200 schools, attended by students living as far south as Kempsey to Doomadgee in the Cape, have been greeted by Campbell often with former New Zealand international Clinton Toopi by his side.
“It’s the foot in the door. People honestly believe they know us. They’ve seen us on the TV,” Mr Campbell said
“That’s all we have in the beginning to earn their trust. It takes weeks.”
When they arrive in the Cape or other remote areas, Mr Campbell simply asks, “What is it we can do for you?” He tries to return to Doomadgee once a month.
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“We’ve gone there for over three years. They’ve seen services come and go. We don’t want to be one of those people who fly in one day and don’t come back.”
They provide guidance on how youths can get job skills, acquire qualifications and provide them with the tools to access those job services.
T4T job providers estimate about 130 youths have gained employment in the past few months, but the more Mr Campbell travels the more he realises the vast challenge before him.
“It’s only going to get worse for our kids. They’re calling for us to do something on mental health. There was a young lady who died in the school holidays and they asked us to do a whole-of- school talk,” Mr Campbell said, before his voice trails off.
Whatever happens at the Titans, Mr Campbell regards T4T as a separate entity that has the potential to grow much larger.
“If it is cheaper to rent a car for us, we will drive from the Gold Coast to Roma and come back later that week so we can save money. At times, we have slept in a swag because we didn’t want to use up any money,” he said.
A former rugby league star, sleeping out under the stars, dreaming of bringing those troubled among his people out of the darkness.
“They see that we care,” Mr Campbell said. “At the end of the day they can see hopefully there is light at the end of the tunnel.” Campbell said.
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