How closely does your nonprofit’s board supervise financial transactions? Last week, a woman who handled financial transactions for the Roman Catholic Archdiocese of New York was charged with embezzling more than $1 million over 7 years. She allegedly issued hundreds of checks in small amounts to her son under the guise of paying bills to …
Posts Categorized: Accountability
What Do Fundraisers Do With Donated Money?
Very interesting blog entry in The Chronicle of Philanthropy on Sept. 20, 2010, regarding the scrutiny of the “Arrangements Between Charities and Fund-Raising Companies.” http://bit.ly/lfnp106. The article sites a St. Louis Post-Dispatch article (http://bit.ly/lfnp107) regarding the the transparency of donations. Donors “often do not realize that most of their donations are going to the fundraising …
Foundations Mixing Public and Private Funds…
… is Fund-amentally Dangerous! In the ever-increasing scrutiny over the transparency of nonprofit accounting, the California State University system is learning a lesson about improperly mixing nonprofit funds with private funds. In an August 25, 2010 article in the Los Angeles Times by Carla Rivera, “A faculty group said it has found evidence that California …
Lawmakers Look To Cut NonProfit Salaries
Budgets are getting tightened or slashed from coast-to-coast. And lawmakers are looking at cutting the salaries and retirement compensation paid to the leaders of big nonprofits. According to the July 26, 2010, New York Times article, “Lawmakers Seeking Cuts Look at Nonprofit Salaries” by Stephanie Strom (http://nyti.ms/9leP6m), Senators on Capitol Hill are refusing federal grant …