Embezzlement. Fraud. Financial crisis.
As a stakeholder of a non-profit organization, these are words you never want to hear.
But every day, non-profits find themselves facing these issues. Most had no prior indication that something was amiss–and even more thought it could never happen to them.
A 2013 Washington Post analysis of Federal filings from 2008-2012 found that more than 1,000 non-profit organizations in the U.S. checked the box on their tax forms indicating that they had discovered a significant diversion of assets, disclosing losses attributed to theft, investment fraud, embezzlement and other unauthorized uses of funds.
In addition to fraud, mismanagement of a non-profit’s funds can also lead to the type of headlines volunteers dread but are all too often seen today.
In either case, the resulting loss of reputation for a non- profit can lead to decades of lost revenue and donations.
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