Mr. Kevelighan is easily caught in a web of his own lies and nonsensical. At the time of my departure, the III’s revenues and membership were at record highs. This information is all available to the public on the III’s own tax forms, available free to anyone at: https://projects.propublica.org/nonprofits/organizations/131912455.
It does seem that Mr. Kevelighan is unable to understand the III’s own financial statements. Per the III’s own tax filings and as noted in this and other articles, III’s losses under its current CEO are a staggering $3.7 million—and that’s only through 2018. Wondering how the III has managed to keep the lights on despite such huge losses? By eating into the very large reserve fund I built up during my decade as president, that’s how. During my final three years alone at the III, the III had record revenues, record membership and POSITIVE net income totaling $3.6 million, representing an embarrassingly large adverse swing under current management of $7.3. million! Amid these huge losses, Mr. Kevelighan was paid $2.5 million. As noted, expenses under Mr. Kevelighan have soared, with executive compensation reaching 40% of total expenses in 2018. Large sums have been spent on high priced consultants, severances, settlements and legal fees. He’s also laying off people–including the III’s highly regarded Chief Economist–even terminating the III’s pension plan without–to date–notifying retirees. The III is vastly worse off today than it was 4 years ago. Mr. Kevelighan is attempting to spin lies, hoping that if repeated often enough they will become truth. They will not. The III has lost dozens of members, millions of dollars and now its independence–all of this occurring during Mr. Kevelighan’s tenure. End of story. Even several members of the search committee that hired Mr. Kevelighan have withdrawn from the III. Why might that be? As usual, he is seeking to blame others for his failures. Fortunately, people are smart enough to see through the deceit.
Mr. Kevelighan is easily caught in a web of his own lies and nonsensical. At the time of my departure, the III’s revenues and membership were at record highs. This information is all available to the public on the III’s own tax forms, available free to anyone at: https://projects.propublica.org/nonprofits/organizations/131912455.
It does seem that Mr. Kevelighan is unable to understand the III’s own financial statements. Per the III’s own tax filings and as noted in this and other articles, III’s losses under its current CEO are a staggering $3.7 million—and that’s only through 2018. Wondering how the III has managed to keep the lights on despite such huge losses? By eating into the very large reserve fund I built up during my decade as president, that’s how. During my final three years alone at the III, the III had record revenues, record membership and POSITIVE net income totaling $3.6 million, representing an embarrassingly large adverse swing under current management of $7.3. million! Amid these huge losses, Mr. Kevelighan was paid $2.5 million. As noted, expenses under Mr. Kevelighan have soared, with executive compensation reaching 40% of total expenses in 2018. Large sums have been spent on high priced consultants, severances, settlements and legal fees. He’s also laying off people–including the III’s highly regarded Chief Economist–even terminating the III’s pension plan without–to date–notifying retirees. The III is vastly worse off today than it was 4 years ago. Mr. Kevelighan is attempting to spin lies, hoping that if repeated often enough they will become truth. They will not. The III has lost dozens of members, millions of dollars and now its independence–all of this occurring during Mr. Kevelighan’s tenure. End of story. Even several members of the search committee that hired Mr. Kevelighan have withdrawn from the III. Why might that be? As usual, he is seeking to blame others for his failures. Fortunately, people are smart enough to see through the deceit.