[NFBSF] Concerning SF LightHouse Annual Reports

[bernieslife at icloud.com]

Hello, 

 

Most of us are aware of  recent changes at the SF LightHouse. Information
has been hard to come by. I am sharing a letter written by Margie Donovan,
former LH Board Member, LH donor, and cross-disability advocate. She sent
the following letter to Brandon Cox, LH CFO.

 

From, Lisa Irving

See Margie's letter below. 

 

Written to Brandon today and he has read it. Margie

 

 

-----Original Message-----

From: Margie Donovan

Sent: Sunday, May 18, 2025 8:02 AM

To: Brandon Cox <bcox at lighthouse-sf.org <mailto:bcox at lighthouse-sf.org> >

Subject: Annual Reports

Importance: High

 

Greetings Brandon:

 

In further checking with a friend of mine who works in the non-for-profit
field as an attorney, I learned that more than the CFO should have copies of
the Annual Audits. He was not sure of what a reasonable time period is to
get copies upon request. I will be calling the Secretary of State office on
Monday to get more clarification on this. I do not think it is reasonable to
wait for two weeks for someone to return to work and then they have a lot of
catch up to do. This may only cause a further delay in me getting the
Audits.

 

When I served on the LH board, all board members got copies of the audits.

We read through them thoroughly to know what the financial situation was. At
that time it was great, but we still reviewed them annually. I only resigned
from the board as I retired from the SFVA and moved out of the Bay Area. 

 

I want you to know, I am 100% in support of the LH staying open and I am
very concerned about where all the money has gone. I am concerned that the
first eight floors were lost because the LH did not have the 48 million
dollars for the balloon payment due this past January. There is something
seriously wrong. After the original bequest, there was more money once the
assets were liquidated. There was also the sale of the Van Ness building. I
find it hard to understand that most of this money is gone and another
balloon payment of 27 million is due within the next few years to keep
floors nine through 11. This appears to be financial negligence on the part
of the board, CEO, COO and CFO. I want answers. There are not enough details
in the 990s and this is why I am asking for the Annual Audits. As a regular
donor, and as someone who has the LH in my estate plan, I want to understand
how so much money was spent and none of the floors were purchased right out.

 

I am also concerned that in FY 2022/23 the C Suite salaries amounted to 1.7
million dollars. Why did you get a $25,000.00 bonus last year, when the LH
was in such a financial crisis? This size of a bonus is unheard of in the
non-for-profit blindness industry. I am very concerned about how we are
going to keep the LH doors open. The LH had been a pillar in the Bay Area
for 120 years serving people with sight loss. 

 

The need for the LH is much greater at this time with the aging population,
and 20% of them experiencing sight loss.

 

Best,

Margie Donovan