San Diego Human Dignity Foundation launches financial investigation after concerns grew over two funds managed by the organization.
The San Diego Human Dignity Foundation (SDHDF) is being put through a rigorous financial investigation by its Finance Committee and Board of Directors.
The organization has hired an independent certified public accountant to conduct the review as some concerns have arisen about the misappropriation of funds reports one source close to the philanthropic organization which has served the community since 1996.
In a statement sent to SDGLN, the SDHDF donor-advised fund holders have been contacted and apprised of their fund balances, adding, “stakeholders, donors, sponsors, and partnering organizations have been contacted in the spirit of openness and transparency. The Finance Committee’s questions are related to two of the funds managed by the Foundation.”
Joselyn Harris, board president of SDHDF says the Board of Directors regards its responsibility to protect the foundation’s operating income and assets a serious matter.
She adds: “Therefore, we are imposing strict cost cutting measures which include placing on hold some foundation projects to address a shortfall in fundraising income.”
This development has halted the Aston-Brooks Gala scheduled for Dec. 10, 2016. The foundation is looking to re-schedule the event for spring 2017.
The statement also says that, “in addition to managing funds and acting as fiscal agent on behalf of philanthropists and organizations, SDHDF conducts fundraising activities to cover operational expenses.”
You can check out the SDHDF’s recently completed 2015 audit by clicking HERE.
The foundation will release updated statements in the coming weeks with new information and details about the necessary actions taken by the board once the investigation and its finding are complete.
The Foundation’s Board of Directors are committed to, “financial transparency and integrity and will explore any concerns that arise from its initial financial review or any legitimate source,” they said in the statement.
“The Board of Directors did not make these decisions lightly or hastily,” said Harris. “We are committed to continuing the mission of the Foundation – to fund programs and projects that promote equal treatment, tolerance, wellness, well-being, and human dignity.”
To stay informed of the Foundation’s financial review or to confidentially submit a question or comment to the Board of Directors, please visit www.sdhdf.org.
About the San Diego Human Dignity Foundation
Established in 1996, the San Diego Human Dignity Foundation (SDHDF) is the sole community foundation in the San Diego region dedicated to the benefit of lesbian, gay, bisexual, and transgender (LGBT) people. SDHDF funds programs and projects that promote equal treatment, tolerance, wellness, well-being, and above all else, human dignity. We work to strengthen LGBT organizations and leadership. We nurture philanthropic giving to support LGBT people and address important issues such as aging, arts and culture, health and wellness, youth and families, and civil rights. For more information, visit www.sdhdf.org. Connect on Facebook and Twitter.