Monday, October 28, 2013

NONPROFITS - Story of Unauthorized Use of Funds

"Washington Post report finds fraud, embezzlement at more than 1,000 non-profits" PBS Newshour 10/27/2013


HARI SREENIVASAN (Newshour):  A startling report in today’s Washington Post, the newspaper says more than a thousand of the nation’s non-profits have each acknowledged losses of a quarter million dollars or more, because of theft, investment fraud, embezzlement or other unauthorized use of funds.  The report is based on tax filings by the non-profits during the past five years.  Each non-profit disclosed the problem by checking a box on the tax form indicating what’s called a significant diversion of funds.  For more about all this, we’re joined from Washington by Joe Stevens, he’s an investigative reporter for the Post and the co-author of today’s piece.

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