Agency for Co-operative Housing ("the Agency")

The Agency for Co-operative Housing (the Agency) CLICK HERE The Agency Who We Are, Board of Directors meetings, What We Do, Mission, Vision, Values and How We Started. Canada Mortgage and Housing Corporation (CMHC) contracted the Agency in the administration of federal government non-profit co-op housing programs to monitor whether co-ops are abiding by the terms of their operating agreement with the CMHC. (Compliance monitoring)  CLICK HERE for on-line documents

 

It should be noted that the Agency cloned its website at some point-in-time, and internet search engines may re-direct you to the cloned site agency-public.coop that my not share all the same information displayed at agency.coop

 

In Ken's view, the Agency monitored 515 housing cooperatives at the end of 2007, and 532 housing cooperatives at the end of 2014 in British Columbia, Alberta, Ontario, and Prince Edward Island.   

 

Co-operatives representations:

Most of the Annual Information Return (AIR) is completed by the co-op's auditor, based on her or his examination of the co-op's records. However, some questions can be answered only by the co-op itself. These questions are known as the co-op's representations. They differ from one co-op housing program to another. If these questions are answered, it may confirm that co-ops are either whole or in part following the terms of their operating agreement or not. Example: AIR for co-op's with both section 61/27 and section 95 Program Operating Agreements in PDF CLICK HERE

 

Example of a question noted in the AIR:  105 The auditor issued a Communication of Maters Identified During the Audit of the Financial Statements that identified significant weakness in internal controls, fraud, illegal acts or possible illegal acts. (If yes, please give details)...

 

The Agency for Co-operative Housing Annual Report's page link CLICK HERE. Annual Portfolio Performance Report's to CMHC share some statistical information about compliance monitoring. Examples: CLICK HERE 2014 and to review the 2007 Report CLICK HERE

 

In Ken's view, the Agency, Annual Portfolio Performance Report's to CMHC have information edited out that include information from question 105 noted in the AIR.

 

In Ken's view, the Agency refused to publish information on its website including its complete Consolidated Annual Financial Statements and remuneration of the CEO, individual Managers and other Staff at the Agency.  

 

Almost all revenue the Agency receives annually comes from Canadian taxpayer's through CMHC. Revenue reported in 2014 was over 6 million dollars. 

CLICK HERE to review the Agency 2015 Audited Financial Statements 

CLICK HERE to review the Agency 2014 Audited Financial Statements 

 

In Ken's view, for some two years, the Agency appears to had broken the link to the 2007 Annual Portfolio Performance Report to CMHC. Comparisons of data reported in the 2007 Report can't be made with other Report's to CMHC. The Agency has refused requests to restore the link to that 2007 Report in 2015. As At February 2016, the 2007 Report is still hidden out of view. The Agency has refused requests to publish their Audited Financial Statements on their websites. Ken's conducted a video review of the Agency website on January 28, 2017 CLICK HERE and CLICK HERE and CLICK HERE and CLICK HERE

 

CHIE tested links to Agency Board meetings, in full or in summary in February 2016. In Ken's view, the following Board meetings could not be accessed: May and June, 2015, November 20, 2014, June 6, 2014, June 8, 2012, March 11, 2011, March 11, 2010, and May 28, 2009.  

 

CLICK HERE to access one board meeting!  

 

In Ken's view, the Agency is committed to keeping a low profile away from social media. Some examples: The Agency has no account on any social media platforms, such as Facebook or Twitter.  The Agency reports and information that are available as a PDF..., published on the Agency website have no gadget tools to share any of this information directly on to any social media platforms. 

 

In Ken's opinion, the Agency falls short on their mission, vision, and values that lack transparency and accountability to Canadian taxpayer's...

 

The Agency is the sole partner of the Co-operative Housing Federation of Canada 

Ken shares some views and opinions about CHF Canada and the Agency: CLICK HERE  

 

The Agency, current Board of Directors: CLICK HERE

 

In Ken's view, the Agency CEO and many Staff are formerly from CHF Canada. Background information example: Ms. Alexandra Wilson, Chief Executive Director, the Agency is a former Co-operative Housing Federation of Canada, Executive Director, and lobbyist: CLICK HERE  

 

Ms. Wilson is currently a Member of the Board of Directors for the Co-operators Group Limited, as CHF Canada is listed as a Member and Owner: CLICK HERE

 

 

Comments:

In Ken's view, the Agency and CHF Canada are advocates for cooperative housing and have a tendency to express some bias views and opinions. 

 

The Agency monitors a portfolio of non-profit zero equity housing cooperative's on behalf of CMHC. These type of housing cooperatives are more vulnerable to embezzlement by their very nature. First, there are no **owners** watching over every dollar of their money. Unfortunately, most people are less concerned when it is not their own money at risk.  

 

Scott Jackson, National Communications Officer, CHF Canada, wrote an article called "Risky Business" about the Agency in 2011. Ken quotes some excerpts from the article in his view:

..."A significant number of co-ops are in difficulty and require a workout loan"..."many cases are due to poor management and governance"...

..."Agency data rates 17% of is portfolio, or roughly 90 co-ops, as high risk."..."Over 80% of its client housing co-ops do not have an approved capital replacement plan"...other risk factors include..."director arrears, and inadequate insurance."... Review this article in PDF: CLICK HERE

 

Impact of Fraud and Theft 

Fraud and theft is a common occurrence across the entire economy. However, the general public at-large often does not hear of these events unless they are large enough to get reported in the press or through social media. For non-profit organizations that include the Agency and CHF Canada, the potential impact of having fraud and theft become known to volunteers or donors, much less the public, is so great that such occurrences are most frequently swept under the rug. 

 

THAT information above, helps to explain why the Agency, does not provide any information from the AIR identified as a housing cooperative's significant weakness in internal controls, fraud, theft or related illegal acts or possible related illegal acts in any of the Annual Portfolio Performance Review Report's to CMHC that are made public on the Agency's Website. 

 

Crisis Situations in Cooperatives: Better Interventions Hing on a Better Understanding: CLICK HERE

 

 

Information may be added, revised or deleted without prior notification 

 

 

 

 

Ken Hummel, Adm. CHIE