Community Reacts to
Board Member's Demand for
Foundation Assisting
Seniors Financials
We originally published an article
written by Sun City Anthem Director Carl Weinstein on
August 2, 2016 that uncovered a number of concerns as
to the Association Assisting Seniors request that they
NOT PAY Sun City Anthem any rental
subsidy.
Mr. Weinstein brought out the need to
examine that organization's financials in order to determine if such a request
was reasonable, and will likely
be brought up at the August 25, 2016 Board
Meeting.
As financial information for non-profit
organizations is public information, we uncovered the
Income Tax filings for that organization from 2011 through
2014.
As such, we had an opportunity to
examine them and after that review, we too had concerns that we
strongly believe should be addressed before any decision is
made.
Here are our
findings:
Gross Revenue $103,664 $136,393 $81,865
Expenses 54,285
Net Income 49,379
Total Assets 544,542
Grants 19,613
Other Grants 0
Accounting
Fees
Investment Mgmt.
Fees
Golf Tournament
Net Income after
Expenses
25,246
Net Income
from Coffee Shop
0
Volunteer
Recognition
(party?)
Gross Revenue 121,201
Expenses 58,
Net Income 62,773
Total Assets 667,205
Grants 35,124
Other Grants 11,845
Accounting
Fees
Investment Mgmt.
Fees
Golf Tournament
Net Income after
Expenses
30,321
Net Income
from Coffee Shop
0
Trosper
Communications*
1,500
Volunteer Recognition
(party?)
Notes:
*Trosper Communications
is owed by a woman named Elizabeth
Trosper....she was also a 2014 Trustee for the Foundation. This firm has
to do with social media.
For the fours years reported the percentage
of administrative expenses ranged from 30-62% which
appears to be very high in relation to donations
collected.
Trustees have also been named on each
return.
Because there was such interest in this
organization, we have also reprinted the reaction of our readers and hope you
too will further comment on these findings.
As you can see, in each case, concerns
were expressed.
We also would like Director Weinstein
to let us know if any progress has been made in obtaining the information he
requested.
- From Joe Mihalich...to...Anthem Opinions
- The key thing to know is this
The financial report of a
charity should cover their ENTIRE operation so that givers can determine what
percentage of the funds go to "administrative" expenses versus what percentage
goes into reserves or for charitable uses.
August 2, 2016
- From Dorothy Yu...to...Anthem Opinions
- As I understand, charter clubs also asked to donate to this foundation annually. The transparency of this foundation's financial report is so important for donors as well as for events organizers to choose which charitable organization to handle a disastrous situation.
I believe this is a very
reasonable request.
We, a group of Chinese American residents, sponsored two major events right here at Sun City Anthem, (before Chinese Heritage Club was established).
An Ad Hoc Committee was formed and studied each charitable organization's administrative cost online before our decision to have Tzu Chi be the charitable organization to handle those two disastrous events.
One happened in Sichuan, an earthquake in 2008, and the other one happened in Taiwan's flood in 2009. Due to the administrative cost ,Tzu Chi was the lowest.
After we found out how much Red Cross pays it's Director, I never donated a dime to that organization again!
There were a lot individuals who contributed not only money, but time to those two events.
They were: Bob Chang, Wen-dar Cheng, Meisheng Chou, John Hsu, Shirley Shiuh, Peter Tu, Joe Wang, Kenneth Wu, Betty Yuan, and Emily Chu (Tzu Chi Representative)
We are caring, loving and retiring residents here at Sun City Anthem.
Most of us were privileged and be able to sustain and take care of ourselves, yet, we also want to extend our hands to other less privileged ones within our community and making this Sun City Anthem a true Heaven for retirees to spend our golden years.
Volunteering is just like Charitable, both respected words in my dictionary, unless people misuse them.
We, a group of Chinese American residents, sponsored two major events right here at Sun City Anthem, (before Chinese Heritage Club was established).
An Ad Hoc Committee was formed and studied each charitable organization's administrative cost online before our decision to have Tzu Chi be the charitable organization to handle those two disastrous events.
One happened in Sichuan, an earthquake in 2008, and the other one happened in Taiwan's flood in 2009. Due to the administrative cost ,Tzu Chi was the lowest.
After we found out how much Red Cross pays it's Director, I never donated a dime to that organization again!
There were a lot individuals who contributed not only money, but time to those two events.
They were: Bob Chang, Wen-dar Cheng, Meisheng Chou, John Hsu, Shirley Shiuh, Peter Tu, Joe Wang, Kenneth Wu, Betty Yuan, and Emily Chu (Tzu Chi Representative)
We are caring, loving and retiring residents here at Sun City Anthem.
Most of us were privileged and be able to sustain and take care of ourselves, yet, we also want to extend our hands to other less privileged ones within our community and making this Sun City Anthem a true Heaven for retirees to spend our golden years.
Volunteering is just like Charitable, both respected words in my dictionary, unless people misuse them.
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August 4, 2016
- From Keith Coffin...to...Anthem Opinions
- I agree with carl..we shouldn’t donate the space for free to the foundation. He is correct in stating that since they do work for other than sca, then they should be treated like any other outside charity group. And, as all charities that get donations, they should reveal on an ongoing basis a full accounting of their income, income sources, and all expenditures.
Keep posting updates and
how the responses are please.
Thanks for the good work you do.
Thanks for the good work you do.
August 21, 2016
- From Robert
Leclerc...to...Anthem Opinions
- I believe Mr. Weinstein is on the right track. Why would we select one group, a Foundation about whose financial affairs we know nothing, and give them a free pass? More must be known. Foundations do not enjoy universally good reputations when it comes to financial stewardship.
- August 21, 2016
- From Robert N...to...Anthem Opinions
If F.A.S. has nothing to
hide, it should readily submit the requested documents...and yes the rent could
be returned to F.A.S. as a humanitarian gesture, but SCA should withhold any
costs of occupying the SCA space (e.g. utilities, etc.). Anyone with any
business experience understands that.
- August 21, 2016
- From Jerry
Eisenberg...to...Anthem Opinions
If the foundation has moved on, to other communities,so should an equal cost of their expenses. Other communities should be responsible for costs i.e. rentals, maintenance of vehicles, cost of vehicles, etc. Communities benefiting should also provide volunteers from their own communities without pulling volunteers away from SCA. Volunteers from SCA should not leave the boundary of SCA.
The foundation should definitely provide financials.
From Irv Prail...to...Anthem Opinions
Regarding the matter of The Foundation, I agree with Mr. Weinstein that there is no “legitimate” reason for the secrecy, but there is a reason.
The obviousness of the situation screams “Fraud!”, or at the very least, unethical/immoral activity.
If the obfuscation continues for longer than 89 days from notice, my vote would be to bar The Foundation from our property, and urge county/state and/or federal (due to TF’s special IRS non-profit status) investigators to take a very close look at this organization’s operation.
There is no doubt there is something very wrong with our association with this organization.- - - - - - - - - - - - -
Note: Anthem Opinions is not a CPA
firm, but we are also aware that The Association Assisting Seniors Treasurer, Dan Forgeron, (also a former Sun City Anthem Board Treasurer) does not, hold a CPA
certification.
Also, this is in NO
WAY any attempt to condemn the Association Assisting Seniors,
only an active search to obtain a full disclosure as to its fund raising
activities, financial income, and miscellaneous expenditures in order that
individuals and organizations many feel secure in their
contributions.
Would you like a copy of the Income Tax
Returns?
Do you have an additional comment?
Let us know by sending us an email at:
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-
Anthem Opinions Administration
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Unfortunately the blog format cuts the cross column format of the table so some of these bizarre numbers are difficult to compare. In summary:
From 2011 to 2014
Income increased 33%
Assets increased 23%
Accounting increased 700% (yes, that is the correct number)
Expenses increased 50% (in relation in income increase this seems weird?)
Social Media increased over 2,500 % (and the owner is a trustee?)
Doesn't having a trustee also being an outside paid vendor cross some ethical guide for non-profit charitable organizations? Expenses includes salaries too, so what portion of expenses are salaries and who gets them?
And one wonders why they need free rent. I don't believe they pay rent even for the coffee shop, which nets them over $20,000. That is $20,000 which the Sun City Association could be earning. I suspect they do good work, but it should not be at the expense of the Sun City Anthem homeowners.
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We should keep the income generated, at least until we see their financials.
My guess is their administrative expenses are higher than some of the charities listed as not good for donating.
As a matter of fact since they are an outside organization, they should rent outside of SCA.
Yes they must provide a financial statement. We need to know what percentage is truly going to charitable causes versus administration expenses.
As a charitable organization I believe they must file with IRS and it should be made public.
I do not donate to charitable organizations if I don't know how much or what percentage is going for the true charitable causes.
August 2, 2016