Richard Lesher Posted October 21, 2023 Author Share Posted October 21, 2023 I have to confess of being sloppy myself. In looking at the 2021 submission of the IRS990 that was on the CA DOJ site, the audited statements (the duplicate 2019 audit not the correct one) is also attached to the end of the FY21 990 via the state website. This should have been brought up in my OP. There is just too much wrong to catch it all in a first pass. However, this still applies (pulled from the FY21 990 via the DOJ site): Quote Link to comment Share on other sites More sharing options...
Richard Lesher Posted October 21, 2023 Author Share Posted October 21, 2023 So with the submission of FY 2021 sourced from the DOJ CA site it solidifies my arguments. Vanguard had said over and over they have filed for an extension. Now, it was never explained what they meant by that. Going through things again page by page I found this, which is at the front of the copy of the FY2021 990's that the CPA's give SCV. It is not the copy of the 990 that makes it to the DOJ or IRS. This is only found at the SCV site. https://www.scvanguard.org/policies-and-financials/ I provide below the source of said extension request. If you have to click a few pages to get through it. Here is a copy of a larger version I made so I could read the thing. The "extension" was only requested for the FY21 990, and would have expired September 15, 2022. Now, remember, FY2021 was submitted an entire year later than the extension, and we still don't have an FY21 audited statements posted on the DOJ to accompany the 990. I'm not saying SCV didn't submit an Audited Financial statement for 2021, but it wasn't put up when the duplicate one was taken down. If they did indeed submit the correct statement and the error lies entirely on the DOJ then it will get corrected. If they did not submit an FY21 Audit, well, I presume another Delinquency letter will follow soon enough. 1 Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted October 22, 2023 Share Posted October 22, 2023 1 hour ago, Richard Lesher said: The current sitting Board President is a CPA To modify a well-known statement regarding legal representation, The CPA who audits their own nonprofit has a fool for a client. 1 2 Quote Link to comment Share on other sites More sharing options...
scheherazadesghost Posted October 22, 2023 Share Posted October 22, 2023 (edited) 1 hour ago, Richard Lesher said: So with the submission of FY 2021 sourced from the DOJ CA site it solidifies my arguments. Vanguard had said over and over they have filed for an extension. Now, it was never explained what they meant by that. Going through things again page by page I found this, which is at the front of the copy of the FY2021 990's that the CPA's give SCV. It is not the copy of the 990 that makes it to the DOJ or IRS. This is only found at the SCV site. https://www.scvanguard.org/policies-and-financials/ I provide below the source of said extension request. If you have to click a few pages to get through it. Here is a copy of a larger version I made so I could read the thing. The "extension" was only requested for the FY21 990, and would have expired September 15, 2022. Now, remember, FY2021 was submitted an entire year later than the extension, and we still don't have an FY21 audited statements posted on the DOJ to accompany the 990. I'm not saying SCV didn't submit an Audited Financial statement for 2021, but it wasn't put up when the duplicate one was taken down. If they did indeed submit the correct statement and the error lies entirely on the DOJ then it will get corrected. If they did not submit an FY21 Audit, well, I presume another Delinquency letter will follow soon enough. 🤔 So wait... said extension has nothing to do directly with the delinquency status at the CA DOJ except that they received it? Or is that federal extension request automatically extended to include the state? Or am I misunderstanding? When looking into the charity registry statuses, I didn't get the sense that extensions were a thing there. But to be fair, I haven't explored the resources provided by the DOJ to get out of delinquency cause even I'm not that dedicated... Edited October 22, 2023 by scheherazadesghost Quote Link to comment Share on other sites More sharing options...
scheherazadesghost Posted October 22, 2023 Share Posted October 22, 2023 22 minutes ago, IllianaLancerContra said: To modify a well-known statement regarding legal representation, The CPA who audits their own nonprofit has a fool for a client. So many CPAs involved in leadership there, homie. That said, they insist that their books are audited by an independent company and what docs they do make public also indicates this. 1 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted October 22, 2023 Share Posted October 22, 2023 12 minutes ago, scheherazadesghost said: So many CPAs involved in leadership there, homie. That said, they insist that their books are audited by an independent company and what docs they do make public also indicates this. I was thinking that auditing has to be done by an outside source. But…. having CPAs in the leadership ranks you’d think they would have the act together when paperwork is filed. Not my area of expertise so no idea what is being discussed really means. Just sitting back and watching Quote Link to comment Share on other sites More sharing options...
IllianaLancerContra Posted October 22, 2023 Share Posted October 22, 2023 1 minute ago, JimF-LowBari said: I was thinking that auditing has to be done by an outside source. But…. having CPAs in the leadership ranks you’d think they would have the act together when paperwork is filed. Not my area of expertise so no idea what is being discussed really means. Just sitting back and watching It also makes me wonder- could a bunch of CPAs successfully hide/cover up financial irregularities so other, third party CPAs would have a difficult time seeing it? I’m not saying it is happening, but am curious. Quote Link to comment Share on other sites More sharing options...
HockeyDad Posted October 22, 2023 Share Posted October 22, 2023 5 hours ago, Just Wondering said: Why not just have a CPA correct all this and move on! Could be done in a few days! I’m starting to get a vibe that maybe they are obfuscating, like Mr. Lundegaard at the dealership messing up the vehicle VIN numbers on purpose in the movie Fargo and stinging along the financing dept. 3 Quote Link to comment Share on other sites More sharing options...
Sutasaurus Posted October 22, 2023 Share Posted October 22, 2023 28 minutes ago, IllianaLancerContra said: It also makes me wonder- could a bunch of CPAs successfully hide/cover up financial irregularities so other, third party CPAs would have a difficult time seeing it? I’m not saying it is happening, but am curious. Not sayin’ there is malfeasance going on here but it’s not looking totally legit either. I’m not holding my breath but I hope to he** they get their act together and soon. 3 Quote Link to comment Share on other sites More sharing options...
JimF-LowBari Posted October 22, 2023 Share Posted October 22, 2023 54 minutes ago, IllianaLancerContra said: It also makes me wonder- could a bunch of CPAs successfully hide/cover up financial irregularities so other, third party CPAs would have a difficult time seeing it? I’m not saying it is happening, but am curious. Just remembered my niece has a Masters in accounting. No idea how this ties into being a CPA. Too bad she’s couple hundred miles away and haven’t seen her face to face in a few years. Be an interesting question for her 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.