I often tell my colleagues that running a Club Baseball operation can be hazardous to your health. Besides all the on-field work our coaches put into our teams, no one would believe the amount of work and red tape we go through behind the scenes.

Blue Wave Baseball is a fully-compliant 503C non-profit corporation with a Board of Directors, Treasurer, and President that deal with all the day-to-day activities associated with keeping us in good standing with local, state, and federal agencies that monitor and govern our every move.

Blue Wave has grown tremendously over the past few years (ten teams, more than 150 players per year at present) because we stay ahead of the game as far as being organized and by dotting all the "i's" and crossing all the "T's."

Yes, we have the best coaches around and some great teams. But, our hallmark has been our passion for professionalism in operating our organization and following all the rules. We have built a reputation for honesty and integrity that our Board is very proud of and continue to build on each step of the way.

Neither I, as president, or any of our officers have taken any form of compensation from Blue Wave Baseball in the four years we have been in existence. Only our coaches are paid a stipend from the fees we collect from our players. As we like to say, Blue Wave does not play "daddy ball" and it is not "profit ball" either.

We do not do this to be Saints, we do it to preserve the integrity of our organization. Above all else, no one can say that Blue Wave Baseball makes a profit from the boys that play in our program or that we are taking advantage of our parents and players.

And, no one can say that Blue Wave Baseball does not pay its bills. We pay our coaches, league fees, umpire fees, cage fees, insurances, and even donate to many of the fields we play on. We recently hired a college intern to begin helping with communications and our website as our organization continues to grow. We have increased our insurance from a standard $1-million in liability to $10-million in liability - we are the only club baseball organization that does this. We also have Medical and Catastrophic insurance, again, most organizations simply do not carry the levels of insurance we carry.

As President of the organization I personally donated or loaned money to our organization to ensure its good standing at the bank and within our community. And, I have personally covered shortfalls on various teams, sponsored and paid fees for players that are in need of financial assistance or scholarships as well.

Our Treasurer, Marlene Gaffney, puts in countless hours keeping up with our accounting activities. It takes both her signature and mine to write a check from Blue Wave Baseball and she keeps a close eye on everything we do.

And no one puts in more hours at different baseball venues in our area spreading the word about Blue Wave Baseball than does Louis Baltierra, our Vice President, Board member and co-founder. Louis is a fixture in the Southern California baseball community and guiding light for our organization.

To both these individuals, our organization owes a huge debt of gratitude.

As we move forward into the future we always ask our parents to make any checks out to Blue Wave Baseball, not personal checks to anyone in our organization if at all possible. Not only is this practice an accounting nightmare, it can cause tax problems for those accepting the payments as well as the organization.

We have also stopped accepting cash payments and hope to have credit card processing online in the near future. We have also added to our website the ability to accept corporate and individual donations to a specific team, function, or our organization as a whole. We will also list and acknowledge our donors and sponsors as well.

Again, we do these things to make sure Blue Wave Baseball is beyond reproach so that no one in the community can say we are here to take advantage of the players that don our uniforms.

If anyone ever has a question in regards to our finances or "Where Your Money Goes" in our organization or, even, and individual team (we keep separate Profit & Loss statements per team as well) please contact our Treasurer, Marlene Gaffney, or myself. Our contact information is available on our home page.

By law we must provide complete public disclosure and we do so proudly.

Sincerely,

Steve Kruse

Steve Kruse
President
Blue Wave Baseball

Blue Wave Baseball, Inc.
Balance Sheet as of July 31, 2007
ASSETS
Checking – UBOC                         2,708.24
Total Checking/Savings                 2,708.24
Total Current Assets                     2,708.24
TOTAL ASSETS                             2,708.24

LIABILITIES & EQUITY
Donations by Officer - Kruse          25,986.14
Total Other Current Liabilities         25,986.14
Total Current Liabilities                  25,986.14
Total Liabilities                              25,986.14

EQUITY
Retained Earnings                         -10,275.16
Net Income                                  -13,002.74
Total Equity                                  -23,277.90
TOTAL LIABILITIES & EQUITY           2,708.24

Profit & Loss
August 2006 through July 2007
INCOME
Cooperstown 2007 Donation            7,280.75
Cooperstown 2007 Tourney Income 7,723.41
Fall/Winter Season Fees                34,277.00
Merchandise Income                      1,313.94
Ripken Team Donation                   8,270.00
Ripken Tournment Income            11,905.00
Snack Bar                                     2,747.00
Spring Season Fees                      34,458.00
Summer Season Fees                   28,220.00
Tournament Fee Income               60,643.00
Uniform Income                            9,662.00
Total Income                         206,500.10
EXPENSE
Administration Fees                       1,000.00
Advertising                                   3,125.00
Bank Service Charges                       78.00
Cage Fees                                      915.00
City of Irvine Fees                           250.00
Coach Fees                                62,150.00
Coach/Umpire Travel Reimb        18,034.72
Cooperstown Fundraising Expense    725.00
Cooperstown Expenses...... ...........4,230.53
Equipment/Balls                           5,331.08
Field Rentals                                5,250.00
Filing Fees                                        20.00
Health Insurance                          1,100.00
Insurance                                    1,657.50
League Fees                               10,075.00
Merchandise Expense                    2,725.21
Miscellaneous                                  410.00
Office Supplies                                 808.60
Postage/Overnite Mailing                1,247.63
Printing                                            552.76
Reconciliation Discrepancies               482.95
Refund                                             530.00
Ripken Tournament Expenses          1,600.00
Snack Bar Expense                            450.00
Storage                                             365.00
Tax Preparation Fees                          330.00
Telephone                                          450.00
Tournament Fees                           58,370.00
Umpire/Field Fees                            5,050.00
Uniforms                                       20,478.30
Website Hosting/Maintenance            1,710.56
Total Expense                          219,502.84
Net Income                               -13,002.74
TOTAL LIABILITIES & EQUITY     2,708.24