Resources · Category
Governance, fiduciary duty, and what real accountability looks like when boards and managers fall short.
← All resourcesExposes the dangerous gap between budget conclusions and the unexamined operational assumptions — payroll metrics, insurance loops, tax exposure — hiding underneath.
A director files suit seeking to establish whether Holiday Fund records are association records subject to owner and director inspection.
Examines the legal and structural argument that the Holiday Fund's design insulates the association from liability under Illinois fiduciary duty standards.
Board President Scott Timmerman publicly addressed the Holiday Fund controversy. His comments created five additional legal problems rather than resolving them.
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.
An early alert to owners and directors summarizing the core financial control findings and what they signal about the association's governance structure.
The piece that launched the 175 East Delaware investigation — a forensic accounting review reveals $450,000 in unauthorized payments and ongoing budget secrecy.
Documents what happened at an association after governance concerns were formally raised — and what the subsequent financial record shows.
Where does routine staff appreciation end and a governance problem begin? A practical framework for boards trying to navigate gift and compensation policies.
Management companies routinely receive bonuses and incentive compensation from associations. Under what standard, authorized by whom, and disclosed to whom?
How the management company's influence over auditor selection undermines the independence that makes an audit meaningful.
NOCLAR — non-compliance with laws and regulations — is something auditors are required to evaluate. This post examines what happens when they don't.
When reserves are underfunded, taxes are misstated, management is self-compensating, and records requests are refused after a court order — a pattern emerges.
Documents the governance record of the board president at 175 East Delaware Place — including unauthorized program approvals and records refusals.
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 audit and tax work at 175 East Delaware Place — including independence concerns, financial presentation choices, and mid-contract termination.
A detailed look at how the association's law firm has handled records requests, litigation strategy, and board communication.
A two-part investigation into Sudler Property Management's compensation practices at 175 East Delaware Place — approximately $500K in unauthorized raises.
What happens when association counsel starts making governance decisions that belong to the board — and why it creates serious accountability gaps.
Investigations involving multiple Chicago condominium associations reveal auditors voting proxies, overstating income, and understating expenses.
A state tax deficiency was resolved by the managing agent without informing the board of directors — and the paper trail raises deep oversight questions.
Why associations need functioning whistleblower policies and no-gift/anti-kickback policies — and why the absence of both is a recognized fraud risk.
The single internal control that stops financial fraud most reliably — and that most associations have quietly abandoned by delegating it entirely.
After losing in court, a 48-member board voted against a reasonable records request and declined to produce the documents — again.
