A government watchdog group found that a San Francisco homelessness nonprofit organization was guilty of being “careless and irresponsible” with $240 million of taxpayer money.
The report by OpenTheBooks found that HomeRise, which runs 1,500 units across 19 properties on a $34 million annual budget, had misused funds and engaged in practices that “heightened the risk of fraud.”
The city’s $240 million funding of HomeRise includes $110 million in loans to develop and upgrade properties, $90 million for operations, and more than $40 million in grants for support services.
“It’s unclear exactly how much of the $240 million grants, loans, and subsidies was misused, but what is clear is that this company should never have been trusted with public funds,” OpenTheBooks CEO Adam Andrzejewski said.
The Mayor’s Office of Housing and Community Development and the Department of Homelessness and Supportive Housing hired Sjoberg Evashenk Consulting
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