A $115K kickback scheme at a homeless shelter, 18 undisclosed LLCs at Chinatown's biggest housing nonprofit, and a city controller report finding 28% of nonprofits failed basic financial standards all share the same root cause: San Francisco routes $1.6 billion a year through 600+ nonprofits with oversight so weak the city bails them out anyway because it has no alternative.
Read Top Post →Malcolm Yeung controls 18 LLCs tied to Chinatown Community Development Center and disclosed zero of them on six years of financial filings. CCDC sits on $163M in assets and loses $6.7M a year while Yeung earns $312K. Nearby, TODCO hasn’t built a single home in 20 years while its execs pocket $777K. Four months after the Providence shelter fraud, the same story: politically connected nonprofits, opaque finances, no one checking.
Mar 01, 2026 · 6 min
Two Providence Foundation employees allegedly stole $115,000 from a homeless family shelter through fake invoices for work never performed — exterior painting, lock removal — while the building rotted with rust and fungus. Dean Preston’s office had championed the Oasis Inn as a model shelter-in-place hotel during COVID. The fraud went undetected until criminal charges were filed, setting a pattern that would repeat across SF’s nonprofit ecosystem.
Jan 31, 2026 · 4 min
