The 2010 federal non profit 990 has been filed for Tenderloin Housing Clinic. This covers the year 2009 and is not available until nearly 18 months later in 2011. It is listed as the 2010 990 at Guidestar and is filed in 2010 with the IRS. The previous 2009 990 is available here >>
For the first time, Randy Shaw took a pay cut, from $125,000 in 2008 to 122,000 in 2009
One of the significant changes in the 990 since 2008 is new federal guidelines for reporting. This now includes knowledge of embezzlement, or diversion of assets. With the news yesterday of one of Tenderloin Housing Clinic’s top managers arrested for embezzlement
On the 990 this is located in Part VI, Governance, Management, and Disclosure, line 5
Line 2: Clarifies that, if two officers, directors, trustees, or key employees of the filer serve in similar positions with another tax-exempt organization, that involvement does not create a reportable business relationship between the two.
Line 4: Explains that the filer must report significant changes to its organizational documents on its Form 990, Part VI and in Schedule O, rather than in a letter to EO Determinations.
Line 5: Modifies standard for determining if diversion is material and must be reported on line 5.
Line 11: Describes the conditions the filer must meet to answer Yes when it e-mails board members a link to its Form 990.
Line 15: Defines conflict of interest for compensation arrangements.
Line 18: Explains when a filer may check the box for Another’s website.
This embezzlement allegedly involved the Galvin Apartments at 781 Brannan. Since James Holland was fired in 2009 according to The Examiner, this means that Randy Shaw and Tenderloin Housing Clinic became aware of the embezzlement during 2009 and the period for which this 990 covers.
The 2009 (2008) 990 shows the Galvin Apartments rental revenue at 371,000
the 2010 (2009) 990 shows the Galvin Apartments rental revenue at 359,000
This is a drop of 12,000 between 2008 and 2009. Yet it is reported that the embezzlement was 29,000. Is this under reporting?. There could be a strategic reason
In the latest 2010 990, this ‘diversion of assets’ line was NOT checked
This very well could be illegal and false reporting on federal tax forms
PDF screen shots from the law offices of Martin Trupiano