Two board members resigned Tuesday over governance concerns as the Social Development Commission announced it has just $2,770 in cash, a $3.5 million net deficit, and is actively considering bankruptcy alternatives while trying to revive its tax assistance program.
Social Development Commission
Posted inEconomic Development, Social Development Commission
Social Development Commission votes on board officers, reelects Franco in chaotic meeting
The SDC board reelected Jorge Franco as board chair and selected a vice chair, secretary and treasurer during a heated meeting Wednesday.
Posted inEconomic Development, Social Development Commission
SDC faces an uncertain future: What you need to know about an agency in crisis
This week, the SDC board has convened a series of critical meetings as commissioners openly weigh bankruptcy options.
Posted inEconomic Development, Social Development Commission
Bankruptcy talk; new life explored for former North Avenue headquarters: Here’s the latest on SDC
The Social Development Commission Board of Commissioners voted to hold off on a decision about whether to file for bankruptcy during an emergency meeting Monday night.
Posted inCommunity, Social Development Commission
Social Development Commission considers bankruptcy pathways as it deals with debt
Options include filing for bankruptcy under Chapter 7 for liquidation or under Chapter 11 for restructuring, or continue trying to secure funds to relaunch as a scaled down organization.
Posted inCommunity, Social Development Commission
SDC moves to keep Teutonia building out of foreclosure
SD Properties Inc., the property corporation affiliated with the Social Development Commission, is working with the City Attorney’s Office to avoid foreclosure on its property at 6850 N. Teutonia Ave. A judge approved a default judgment against SDC in a separate contract lawsuit.
Posted inCommunity, Social Development Commission
COA executive director calls for transparency from Social Development Commission, clear timeline on when it will pay debt
Amy Rowell, executive director of COA Youth & Family Centers, said SDC owes her organization more than $150,000 and hasn’t been transparent about what went wrong.
Posted inHealth and Wellness, Social Development Commission
Months before some anti-poverty funding expires, UMOS ramps up efforts to provide housing, health and food services
UMOS has spent less than half the $2.1 million in community action funding that is set to expire by the end of September. The organization continues to scale up its programming with the support of partner organizations.
Posted inCommunity, Social Development Commission
Board membership dispute sparks new disarray at Social Development Commission
The Social Development Commission was once again thrown into disarray Tuesday after a disagreement over whether Dessie Levy could participate as a board member.
Posted inCommunity, Social Development Commission
Debt, questions about board seat and governance compliance among latest concerns for Social Development Commission
On Thursday, SDC Commissioner Walter Lanier filed a request asking the city attorney to review the organization’s governance compliance. Lanier and other commissioners attempted to hold an emergency meeting May 19, before the full board meeting two days later.