DEFAULT IS NOT IN OUR STARS, BUT IN OURSELVES: Part 6 — I Don’t Give A Damn About My Bad Reputation
INTRODUCTION: In Part 5, I revealed that Mike Bacigalupo filed the State Theatre’s last audit report with the City of Bay City in December 2020.
And, although he’s contractually obligated to provide those reports according to the terms of a June 19, 2017 agreement with the City of Bay titled “MAINTENANCE AND MANAGEMENT AGREEMENT FOR WENONAH PARK”, Bacigalupo hasn’t turned in any accounting homework since 2020.
But, hey, no probs!
Once someone has reinstated a corporation or LLC, or placed it back into good standing, that person may appear to have the authority to act on behalf of the revived entity.
This means that new loans or lines of credit may be taken out and new contracts signed…or bank accounts opened.
Is everybody in Bay City asleep at the wheel? (And I’m not not talking about a Western swing band.)
Let’s dig into the Bay City River Roar, and more money-grubbing antics from the former Chief Operating Officer of Bay City’s State Theatre.
River Roar…or Cat’s Meow?
On August 8, 2017, Mike Bacigalupo signed the Bay City River Roar’s last IRS Form 990 ( “Return of Organization Exempt From Income Tax”, for the tax year running from October 1, 2015 through September 30, 2016) as a “Director” of the nonprofit.
Later, on January 17, 2023, Bacigalupo filed “Restated Articles Of Incorporation” for 2020, 2021 and 2022 with Michigan’s Department of Licensing and Regulatory Affairs (LARA) for the “Bay City River Roar”.
Why did Bacigalupo merely “reinstate” the River Roar as a Michigan business, and not address the entity’s loss of its 501(c)(3) federal tax exempt status?
Well, Bacigalupo would have to tidy up the State Theatre’s missing financials — and pay the accounting firm he likely stiffed.
Not gonna happen.
Can Bacigalupo’s “Roar” restatement activity be directly linked to the “Rockin’ The River 2023” financial clusterf**k, with Joan Jett and Rick Springfield not receiving payment?
In my opinion, it’s possible…even probable.
Although tickets were sold by the State Theatre, cash payments could have easily been deposited in a “Bay City River Roar” account.
Or not deposited at all.
Between 1998–2017, the Bay City River Roar brought some of the top Formula One powerboat drivers on the racing circuit to downtown Bay City before a 2018 hiatus.
In 2021, concerts returned to Wenonah Park under the “Rockin’ The River” branding.
A newly-modified “Rockin’ The River” logo, shown below, eliminated the powerboat icon and replaced it with a guitar neck. The shape of the logo echoes a guitar pick.
On March 8, 2023, Mike Bacigalupo took to the stage of the State Theatre to announce the upcoming summer lineup. Included were Joan Jett & the Blackhearts and Rick Springfield.
Under the aegis of the State Theatre, tickets were sold.
Jett’s tickets were $70 for VIP seats, and $40 for lawn, so the gate receipts should have covered her booking fee.
But Bacigalupo was booted before the general public was aware of the depth and breadth of his alleged financial malfeasance.
The financial trail left behind by Bacigalupo wasn’t as sticky as a snail’s.
Jean Anne DeShano, Chairperson for the Bay City Downtown Development Authority, was quoted in a December 2022 puff piece about Bacigalupo that appeared on Second Wave Michigan.
Published shortly after Bacigalupo was named Director of Bay City’s Downtown Development Authority, DeShano asserted he was “a renowned expert on everything Downtown Bay City.”
I wonder if DeShano knew Bacigalupo had listed her name as the revived River Roar’s corporate board secretary in those 2023 State of Michigan filings?
And how about Bay City’s Community Development Director as the entity’s “Treasurer”?
Conflict of interest, anybody?
