The association's federal tax positions left owners unable to claim deductions they were legally entitled to — a direct financial consequence of how the taxes were filed.
How improper tax positions and inflated reserve studies can pass undetected for years — until a sale, a loan, or an audit brings them to the surface.
A specific example of how the label "current budget" can mean different things in different documents — and why that gap matters to every owner.
How cable costs were allocated in a way that shifted more of the burden onto certain unit types — and why cost allocation is a financial fairness issue.
An examination of how a late fee structure was applied — and the governance questions it raises about who benefits from fee income.
A summary of enforcement actions, court outcomes, and regulatory referrals arising from the Governance Ledger's investigations.
Management companies routinely receive bonuses and incentive compensation from associations. Under what standard, authorized by whom, and disclosed to whom?
Where does routine staff appreciation end and a governance problem begin? A practical framework for boards trying to navigate gift and compensation policies.
The piece that launched the 175 East Delaware investigation — a forensic accounting review reveals $450,000 in unauthorized payments and ongoing budget secrecy.
An early alert to owners and directors summarizing the core financial control findings and what they signal about the association's governance structure.
Five years of budget data show a persistent gap between approved reserve funding and what was actually billed — and what that means for owners facing future assessments.
A look at the reserve and financial disclosures at the former John Hancock Center, and the questions they raise about what owners and buyers actually know.
What happens when a board claims the portal satisfies your records request — and why that argument has legal limits owners should understand.
Boards increasingly frame records requests as burdensome or costly. This post examines whether that framing holds up and what it signals.
A case study in how an off-books financial program uses association infrastructure, staff, and resources while claiming to be outside owner oversight.
A direct communication to 700+ owners at one Chicago high-rise explaining what a decade of the association's own records show.
After losing in court, a 48-member board voted against a reasonable records request and declined to produce the documents — again.
A state tax deficiency was resolved by the managing agent without informing the board of directors — and the paper trail raises deep oversight questions.
A two-part investigation into Sudler Property Management's compensation practices at 175 East Delaware Place — approximately $500K in unauthorized raises.
A detailed look at how the association's law firm has handled records requests, litigation strategy, and board communication.
Documents the audit and tax work at 175 East Delaware Place — including independence concerns, financial presentation choices, and mid-contract termination.
An examination of reserve study methodology and the conditions under which reserve studies can obscure rather than reveal an association's true capital needs.
Documents the governance record of the board president at 175 East Delaware Place — including unauthorized program approvals and records refusals.
When reserves are underfunded, taxes are misstated, management is self-compensating, and records requests are refused after a court order — a pattern emerges.
Documents what happened at an association after governance concerns were formally raised — and what the subsequent financial record shows.
A 2020 email chain shows a $5,000 loan from the Holiday Fund back to the association — directly contradicting claims that the fund contains no association money.
Board President Scott Timmerman publicly addressed the Holiday Fund controversy. His comments created five additional legal problems rather than resolving them.
Examines the legal and structural argument that the Holiday Fund's design insulates the association from liability under Illinois fiduciary duty standards.
A director files suit seeking to establish whether Holiday Fund records are association records subject to owner and director inspection.