East Bay Asian Local Development Corporation salaries rise as poverty increases

East Bay Asian Local Development Corporation salaries rise as poverty increases

By Lynda Carson -- June 10, 2011

Oakland - As the rents are increasing ever higher, and the working poor earn less in wages due to lost jobs and wage losses, local, state and federal budget cuts have been devastating to the poor, elderly, and disabled communities throughout the Bay Area.

Making matters worse for the poor, 990 tax filings reveal that the salaries and compensation have been steadily rising at a rapid pace for the key staff employees working for the Oakland based non profit housing organization, East Bay Asian Local Development Corporation (EBALDC).

EBALDC claims that it's mission is to develop affordable housing and community facilities, including integrated services focused on tenants and neighborhood residents, with an emphasis on Asian and Pacific Islander communities and the diverse low income populations of the East Bay.

Additionally, according to an Aug. 2010, report from Guide Star, EBALDC received contributions/donations of $755,986 during FY 2008 - 2009, but EBALDC's web site does not make it clear in regards to what the donations are actually being used for, or if EBALDC employees are restricted from benefiting from any donations.

During the past few years EBALDC has been borrowing millions of dollars to renovate it's many low-income residential buildings, directly placing it's low-income renters into deeper debt to pay off the loans. Plus there's an additional cost of $5,000 per unit EBALDC rakes in from each loan, in what is called developers fees, for renovating the buildings.

As the tenants are placed into deeper debt to pay off the loans EBALDC borrows plus the additional costs for the developers fees being charged to renovate the low-income residential rental buildings, the tenants are sinking ever deeper in poverty.

Meanwhile, the salaries and other compensation of the top EBALDC staff have risen dramatically since FY 2006 through FY 2009.

Records show that in 2009, Executive Director of EBALDC, Lynette Jung Lee, earned as much $140,536 that year, including an additional $5,942 in other compensation from EBALDC.

In contrast, records also reveal that during FY 2007 - 2008, EBALDC only paid Lynette Jung Lee $87,265 plus other compensation of $3,055, meaning that in 2009 Lynette Jung Lee's compensation from EBALDC skyrocketed by more than $50,000 in a single year. Since then, Lynette Jung Lee has been replaced by Jeremy Liu, as the Executive Director of EBALDC.

During 2009, La Netha Oliver, Director of Human Resources for EBALDC earned $80,221, plus an additional $8,184 in other compensation, but in FY 2007 - 2008 she only earned $68,547 plus $1,227 in other compensation, meaning that her compensation increased by around $18,000 in a year.

The records also reveal that in 2009, Carlos Castellanos, Director of Real Estate Development for EBALDC, had earned $91,280, plus $11,228 in other compensation, but in FY 2007-2008 Castellanos only earned $71,865 plus $2,415 in other compensation, meaning that his wages jumped by around $28,000 in around year.

Additionally, in 2009, Don Piyathaisere, EBALDC's Chief Financial Officer earned $98,265, plus an additional $8,472 in other compensation. However, records show that in FY 2007 -2008, Piyathaisere earned $91,138 annually plus an additional $2,236 in other compensation, meaning that in one year his compensation leaped more than $12,000. Since then, Piyathaisere has been replaced by Peter Sopka as the Chief Financial Officer for EBALDC.

Records also reveal that Mary Hennessy, Chief Operations Officer for EBALDC is raking in a whopping $129,220 annually, plus $8,134 in other compensation, and that the wages of Charise Fong, Director of Economic Development for EBALDC, have risen in 2009 to $81,828, plus $308 in other compensation, from $69,751 annually plus $2,099 in other compensation, during FY 2007 - 2008, meaning her compensation jumped to around an extra $10,000 in a year.

In total contrast to the huge leaps in salaries and compensation for the top staff at EBALDC, records reveal that during FY 2006 - 2007, Lynette Jung Lee was the top wage earner at EBALDC, pulling in a mere $87,156 annually, with no extra compensation.

Click on link to see listing of properties EBALDC borrowed millions of dollars to renovate it's buildings, placing the low-income renters into deeper debt. http://tinyurl.com/3b3rago

Lynda Carson may be reached at tenantsrule [at] yahoo.com