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Where's the money gone?

Original post made on May 31, 2012

The Tri-Valley Community Foundation is in rough financial waters, facing questions of poor financial management, misapplying donations, making promises it couldn't keep and ongoing overspending that's left the agency nearly $175,000 in debt. The foundation has ousted David Rice, who as president was the public face of the charity for years, after an audit showed money had been spent and promised without approval from its board.

Read the full story here Web Link posted Thursday, May 31, 2012, 12:22 PM

Comments (20)

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Posted by havemydoubts
a resident of Another Pleasanton neighborhood
on May 31, 2012 at 12:30 pm

Suddenly Ron Hyde is to be trusted?


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Posted by homer
a resident of Downtown
on May 31, 2012 at 3:08 pm

$175K deficit? that's it? sounds like a preliminary number, kind of like an initial death toll number.


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Posted by Mike
a resident of Highland Oaks
on May 31, 2012 at 3:18 pm

"'other expenses' had climbed to just over $1 million and salaries had grown to nearly $418,000. The tax return for the year also claimed 108 employees. . ." (Rice's salary being 98 large.)

The term "top heavy" springs to mind, which usually suggests a leech infestation. It's fairly clear who the actual beneficiaries of this foundation have been.


Mike


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Posted by Appalled...but nice journalism, Pleasanton Weekly
a resident of Birdland
on May 31, 2012 at 4:11 pm

Thanks for reporting this. Can you post the financial audit to your website or provide a link to it?

How did TVCF get in any way get involved in committing money to the PUSD Adult Education department? You mentioned TV30 and the TVCF show. Was the TVCF downfall linked to the Tri-Valley TV30 meltdown during the last few years? San Ramon has pulled out of TV30 according to news report. How much of TVCF money was being poured into TV30. PUSD Adult Education and TV30 are on the District campus downtown.

I wonder how the money started being siphoned off to these and other San Joaquin and out of state agencies?



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Posted by concerned
a resident of Mohr Park
on Jun 1, 2012 at 12:12 am

Why hasn't the whole board resigned? They clearly violated there fiduciary duty.


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Posted by Prior Donor
a resident of Country Fair
on Jun 1, 2012 at 6:47 am

The entire board needs to resign. Where was the oversight? Shameful.


 +   Like this comment
Posted by John
a resident of Downtown
on Jun 1, 2012 at 10:48 am

Thank you, Pleasanton Weekly, for writing this article. It's a shame, though, that your financial information only dates to 6/30/2010. TVCF should have filed their 6/30/2011 tax returns by now, and I would expect that recent numbers will tell more of this sad story.

I'd like to point out that community foundations sometimes make unusual grants because of specific donor requests, and I suspect some payments outside the Tri-Valley could have been at the request of contributors to Donor Advised Funds. Although the board is responsible for the appropriate use of these funds, the choice of underlying recipients is donor-designated. I know this to be the case with the money donated in 2010 to the San Francisco Shakespeare Festival, and I also know for certain that this $10,175 was used for SF Shakes programs held directly in Pleasanton (Free Shakespeare in the Park and the Pleasanton Civic Arts Stage Company).

But the crux of your story is still very true. Even if you subtract the known pass through activities (e.g. properly segregated donor-designated money and the Pleasanton Weekly Holiday Fund), what you are left with is a situation where substantial Foundation assets are being used to pay contractors and staff, and where lack of transparency and specific "by fund" accounting enables enormous inefficiencies in the use of local donations. If there's a silver lining here, it's the hope that this shake up will lead to new leadership and vastly improved procedures to oversee public benefit assets.


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Jun 1, 2012 at 11:21 am

Let me get this straight . . . it's called the 'TRI-VALLEY' community center? ? ? And for starters donations were given to Buddhist Center in Boulder Colo; SanFrancisco Shakespeare Festival; UC Berkeley & UC Davis..no doubt in names of Rice, Lane, or Lawless; OAKLAND?families?; several SanJoaquin Co groups; AND one-third of total expenses went to UNDISCLOSED ! ! ! GOT IT !!!
I'VE noticed sadly, that many NON-profits pick from a different kind of 'employee pool' than 'real' companies.


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Posted by Wondering
a resident of Jensen Tract
on Jun 1, 2012 at 12:13 pm

It says "In 2009-10, "other expenses" had climbed to just over $1 million"

....and one third of expenses were undisclosed program expenses.

I wonder if this organization "Tri-Valley Community Foundation" related in any way to "Tri-Valley University" and whether the money has money gone to fund legal expenses for those arrested in the PUSD/Tri-Valley University fraud?


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Posted by Kathy Kendall
a resident of Bridle Creek
on Jun 1, 2012 at 1:33 pm

The Buddhist Center in Boulder CO. Run by a huckster who previously has been run out of every prior job he's ever had. For me, hearing that 'donations' were given to that institution is a real indictment. If not corruption then gross stupidity. No tears being shed for this outfit's demise at all.


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Posted by Appalled...but nice journalism, Pleasanton Weekly
a resident of Birdland
on Jun 1, 2012 at 2:35 pm

Only the first 2 years (2001, 2002) show where the money went and on the web, subsequent years don't disclose that at all.

Also, there are a bunch of 'common stock transactions' and 'securities' transactions. Very strange.

2001
Web Link

2002
Web Link

examples of missing info...

2006 (missing who money was donated to)
Web Link

2007 (missing who money was donated to)
Web Link


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Jun 1, 2012 at 4:08 pm

And the name of the 'Board' members again are....???????????? Do donors have to get in a lawsuit to exercise their RIGHT to KNOW ? ?
Do Board members serve without remuneration??? Don't Board member usually KNOW WHERE and to WHOM ALL money of ANY organization is transferred.....in WHATEVER manner !!!! Don't they ask to see the final tax return each and every year !!!
Make note of any residents who silently slip out of town. We deserve answers.


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Jun 1, 2012 at 4:12 pm

That's the problem....PLAYING with OTHER PEOPLE's MONEY ! ! ! Many humans have that problem ! ! !


 +   Like this comment
Posted by Bill
a resident of Amberwood/Wood Meadows
on Jun 1, 2012 at 5:18 pm

Real Buddists do not need money :-)


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Posted by Bill
a resident of Amberwood/Wood Meadows
on Jun 1, 2012 at 6:04 pm

Organization's stated purpose is raising of funds and distribution of funds to "local" charitable organizations.

By distributing funds outside of the local area (Tri-Valley), is not this organization in violation of its primary exempt purpose?

This should have been a red flag to Ron Hyde, being an ex-judge.


 +   Like this comment
Posted by Appalled...but nice journalism, Pleasanton Weekly
a resident of Birdland
on Jun 1, 2012 at 6:42 pm

PPIE financial statements posted for the last two years show it is overspending more than it has taken in. This is with the Superintendent of schools being the VP and Ron Hyde being the President.

PPIE's last financial statement show Revenue of $86,489 and Expenses of $124,572 and an operating deficit of -$38,083.

The previous year the operating deficit was -$25,375. Revenue was $104,077 and Expenses were $129,452.


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Jun 12, 2012 at 9:44 am

Have the board members ask or seen any tax returns...ever? It does seem that would be part of their basic responsibility. just askin...


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Jun 12, 2012 at 3:25 pm

Share your thoughts and opinions, just don't share names. We all have rights to our opinions..


 +   Like this comment
Posted by nicky
a resident of another community
on Oct 24, 2012 at 8:35 pm

Here is the money:
Web Link
and so many programs with no funding,
the list goes on and on.


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Posted by TRI-VALLEY ?
a resident of Another Pleasanton neighborhood
on Oct 24, 2012 at 8:43 pm

Clicking on the link gave me "element not valid" .


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