Oakland Nonprofit (EBALDC) - A Money Making Machine

EBALDC - A Nonprofit Money Making Machine

(East Bay Asian Local Development Corporation -- EBALDC)

EBALDC's many residential properties are subsidized by the City of Oakland, and their in partnership with the Oakland Housing Authority at Lion Creek Crossings. Formerly known as the Coliseum Gardens public housing complex where 178 low-income families were displaced to make way for the mixed income housing development, Lion Creek Crossings has cost the City of Oakland many millions in subsidies to EBALDC and their billionaire partner Mark Stevens of Related Companies, for the massive project that has dislaced Oakland's poor.

According to the latest IRS 990 tax filing signed and dated as recent as 5/12/08, during 2007 EBALDC received $1,906,530 in contributions during 2007, with their cash on hand or the equivalent increasing by $4,727,954 from the year before, while their assets grew by $16,688,580 during 2007, in addition to the equity in their properties that grew by $6,782,398 from 2006 through 2007.

A money making machine.

Meanwhile, EBALDC has cut back on it's programs at residential properties, cut back on office hours for the management of their residential properties, and is in violation of state law at numerous residential properties (including the Madrone, The San Pablo, Hugh Taylor House) that do not have resident managers, but are required to have them according to state law .

EBALDC decided that it was more profitable to rent out the resident manager apartments at the above mentioned locations while it defies state law, and continues to collect subsidies and donations from it's many donors.

For more on the latest about EBALDC and their profit making machine, click below for the Guide Star financial report on EBALDC, from 2006 through 2007.

http://www.guidestar.org/pqShowGsReport.do?partner=networkforgood&npoId=84767


EBALDC PROPERTIES

http://www.ebaldc.org/pg/20/properties/residential-properties


IVY HILL DEVELOPMENT CORPORATION

Ivy Hill Development Corporation (IHDC), is a subsidiary of EBALDC, and used for the sole purpose of taking money from Effie's House tenants.

At each residential property, EBALDC set up a 501c3 charity nonprofit organization, to operate their residential properties from in the same manner as they run Effie's House. This is the same way that Oakland Community Housing Inc. (OCHI) set up all of their properties before trying to dump over 500 low-income renters recently from their housing, in the name of seeking higher funding revenues.

(Effie's House - 829 E.19th St. Oakland)

(EIN 943257432 -- Ruling Year 1997 as 501c3 charity. IRS records show that IHDC/EBALDC is listed as operating 22 units (at Effie's House) which is incorrect since theres only 20 residential units at Effie's House.)

Ivy Hill Development Corporation (IHDC) was set up as a 501c3 to allow EBALDC to shift money from Effie's House operations to EBALDC, by charging administrative fees or fees for any other reason they could possibly come up with as an excuse to make money on 829 E. 19th St., Oakland.

Through their rents, Effie's House tenants pay for the salaries of the IHDC property manager, in addition to being charged for excessive administration (management) fees by EBALDC.

During 2004, the tenants at Effie's House were charged $9,093 for administration fees, according to the IRS 990 tax form for that year.

During 2007, the tenants at Effie's House were charged $10,322 in management fees, plus an additional $7,534 in fees for management and in general.

The nearly $18,000 in excessive fees payed by the tenants of Effie's House to management during 2007, is in addition to the $36,226 in salaries & wages the tenants have incurred as expenses while residing at Effie's House in 2007. Meanwhile the managers office hours has been cut back to around 3 hours per week on average at Effie's House during the past 4 to 5 months, and during the past year regular office hours have become a thing of the past at EBALDC residential properties, including Effie's House.

IHDC employees at Effie's House, fraudulently pass themselves off as EBALDC employees while on the job, and the tenants at Effie's House receive threatening notices from EBALDC stating that they face eviction for speaking poorly of EBALDC employees, or that they may face eviction if they even look at an EBALDC employee in the wrong way.

For more on IHDC, according to Guide Star, click below....

http://www.guidestar.org/pqShowGsReport.do?partner=guidestar&npoId=227836


EBALDC PROPERTY MANAGERS

According to EBALDC documents, property managers get payed for 37.5 hours per week, and the tenants in EBALDC properties are charged accordingly per property location, to cover the cost and expenses for the property manager's salary, plus the excessive administration fees being charged by EBALDC at each residential property location.

Despite collecting a salary for the equivalent of 37.5 hours per week, during the past 4 to 6 months the tenants at Effie's House have repeatedly complained that they cannot find a manager on-site in the managers office at Effie's House, on a regular schedule. According to tenants, on average the manager at Effie's House is in the office for less than 2 days per week, for around 2 hours each time period, and the tenants complain that theres no way the manager can fulfill all of his duties in such a short time span per week, despite collecting a full salary at the expense of the renters. The current residential manager/property manager for Effie's House is Clifford Gatewood.

EBALDC Property Manager - 37.5 hours per week

Click below for full details of job description......

http://ebaldc.com/contents/jobsTEMP.htm


Effie's House Expenses Covered By The Tenants

With the Management Office hours at Effie's House cut back to less than 3 hours per week on average while the resident manager/property manager receives a salary for 37.5 hours per week, the question remains.

What are the tenants at Effie's House getting for their money?

In addition to paying for the expenses for the mortgage, loans and grants attached to Effie's House, according to the latest 990 tax filing (EIN 943257432 ) signed and dated as recent as 5/12/08, the tenant's at Effie's House also cover the following expenses through their rents.

1) $36,226 in salaries & wages.

2) $734 in pension plan contributions.

3) $3,181 in payroll taxes.

4) $4,626 in accounting fees.

5) $7,534 in fees towards management and general.

6) $550 in legal fees.

7) A $3,485 telephone bill for 2007.

8) $3,398 in miscellaneous expenses.

9) $10,322 towards management fees, in addition to the earlier fee of $7,534 for management.

10) $33,819 in repairs and maintenance.

11) $545 in fees for tenant events.

12) $4,942 in real estate taxes.

13) $658 in miscellaneous taxes.

14) $11,258 for property insurance.

15) The tenants were also charged $350 for asset management fees.

16) $20,821 for utilities. A month ago EBALDC claimed it was going going green, but continues to waste energy at Effie's House while the front lights and 4 flights of exterior stair lights are BLAZING 24 hours a day, costing the tenants plenty for no reason at all during day time hours.

In addition, according to the latest 990 tax filing IHDC/EBALDC holds $9,257 in security deposits, plus $1,365 in key deposits of the tenant's money.


Ivy Hill Development Corporation Officers (IHDC)

Brother Ayinde (Of UNIA/Jubilee West http://unia.us/contact.html ) is currently listed as the Vice President of IHDC.

Ted Dang (Notorious Oakland slumlord. In the past, people died in a fire at one of Dang's properties because there were no smoke detectors in the Oakland residential building) is listed as chief financial officer for IHDC.

Anita Rees is listed as the secretary of the 501c3 nonprofit organization, that was set up as a subsidiary of EBALDC in 1997.

Lynda Carson may be reached at; tenantsrule [at] yahoo.com