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Sunday, October 27, 2013

Non-Profit Scams

I couldn't even read the whole thing; just too painful.  The Washington Post today has the result of a investigation into "diversion" of funds by non-profits.  As I understand it, non-profits are supposed to report if more than $250,000 of funds (or 5% of assets/receipts) meant for their causes has been "diverted" -- i.e. stolen, usually by a trusted employee.  About 1000 non-profits have made such reports since the reporting requirement began in 2008, for a total of hundreds of millions of dollars.

It's really sad that there are so many people out there -- specifically, people who have been entrusted with paid jobs in these non-profits -- who are routinely engaging in this kind of theft.   

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