I went back to the archives and found this reply to one of Ms. Pareene's
posts:
http://www.mail-archive.com/[email protected]/msg20151.html
=================================================================
Wendy Introwitz Pareene writes:
>
http://www.ag.state.mn.us/charities/search_res1.asp?Fed=411309335&Yr=CUR
R&cmdSearch=Submit
>
> This link is to the charities division of the Minnesota
> attorney general's office for one Minneapolis neighborhood ...
> ...A 1 year budget of $450,000+
> about $200,000 goes to staff salaries, bennies, office space
> for the staff, phone bills ($8000 for 1 year?). $82,000 gets
> written off because NRP refuses to cover these expenses for
> whatever reason(?). That leaves... about $120,000 for actual
> projects/programs for this neighborhood.
Doug Walter replies:
Wendy, I read the State Auditor's report on Lyndale Neighborhood
Association entirely different. It actually states that Lyndale put
$368k back into the neighborhood ("Program Service Expense") in program
funds--not the $120k that you deduce.
The "red ink" $82k that you say is written off by NRP appears to be
nothing of the sort, but the difference in assets from the year before
("Changes in Fund Balance"). Their payroll is low, and most other
expenses are more than reasonable.
I agree that the $8,144 listed as "telephone" seems high when taken at
face value. However, that amount may depend on how they classify
expenses--it may include their web development and ISP/Hosting charges,
etc., which I don't see listed elsewhere. I do know--having been
through the process--that the State's auditors miss nothing.
Doug Walter
====================================================================
Curious as to how LNA's AG Charities Division information stacks up
against other neighborhood Associations, I looked up a random selection
of reports on:
FOLWELL NEIGHBORHOOD ASSOCIATION
For the Fiscal Year Ending 12/31/2002
Telephone $3,933
STEVENS SQUARE COMMUNITY ORGANIZATION, INC.
For the Fiscal Year Ending 6/30/2002
Telephone $5,930
POWDERHORN PARK NEIGHBORHOOD ASSOCIATION
For the Fiscal Year Ending 12/31/2002
Telephone $4,353
for close to the same fiscal year as LNA: 5/31/2002
Telephone $8,144
In the same series of reports, the Powderhorn Park Neighborhood
Association listed $7,563 in Expenses for Postage & Shipping.
Take a look at page five of the AG's Guide to Minnesota's Charities Laws:
http://www.ag.state.mn.us/pdf/charities/GuidetoCharLaws_01.pdf
Under the Annual Report section, item number three it states:
An audited financial statement prepared in accordance with generally
accepted accounting principles, if the charitable organization received
total revenue in excess of $350,000 for its most recent fiscal year. The
audited financial statement must bear the opinion of an independent
certified public accountant, if the charitable organization received
total revenue in excess of $350,000 for its most recent fiscal year. In
preparing the audit, the certified public accountant must take into
consideration capital, endowment or other reserve funds controlled by
the charitable organization. A review or compilation does not fulfill
state requirements for an audit.
The Total Revenue for the LNA report, cited in Ms. Pareene's archived
post, is $457,351. The information from the AG guide would perhaps then
explain some of the $13,189 listed as Accounting Fees. It is my
assumption that based on this information, there was an opinion from an
independent CPA. If that's the case, what is the likelihood that the
$82K, listed as Changes in Fund Balance, is "missing"?
Eva Young wrote:
http://lloydletta.blogspot.com/2005/10/scott-persons-and-lyndale-neighborhood.html
Tuesday, October 11, 2005
Scott Persons and Lyndale Neighborhood Association's Missing 82K
I went fishing for more information on the allegations on Minneapolis
Upside Down and Stop Scott on the Minneapolis Issues list. Wendy Pareene
(better known as Wendy Wilde) was the board member of Lyndale
Neighborhood who wrote the letter according to one source.
I have contacted Wendy to get the scoop. Wendy Pareene has
<http://www.mnforum.org/pipermail/mpls/2003-May/024531.html>several
<http://www.mnforum.org/pipermail/mpls/2003-June/024614.html>posts about
this topic in May and June 2003 on the Minneapolis issues list.
--
Scott Moore
Lyndale
612.791.2333
Happy Accident Productions, LLC
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