Nonprofit Fraud Robs Charities of Substantial Dollars

http://www.huffingtonpost.com/eugene-fram/nonprofit-fraud-robs-char_b_4276111.html

“According to a Washington Post analysis of the filings from 2008-2012 … of more than 1,000 nonprofit organizations, … there was a significant diversion of nonprofit assets, disclosing losses attributed to theft, investment frauds, embezzlement and other unauthorized uses of funds.” The top 20 organizations in the Post’s analysis had a combined potential total loss of more than a half-billion dollars. One estimate, by Harvard University’s Houser Center for Nonprofit Organizations, suggests that fraud losses among U.S. nonprofits are approximately $40 billion a year.

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2 comments

  1. After watching the NEWS I thought nothing could be worse than what I see on the NEWS; until I saw this article about individuals and corporations diverting funds from non profits. You call it diverting funds I CALL IT FELONY THEFT!! Why are the large legal charities and the government not prosecuting these FELONS??

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