Wednesday, January 30, 2013

Nonprofit Fraud: An Easy Catch; A $722,000 Theft

by Gary Snyder

The Virginia FFA Association - formerly known as the Virginia Future Farmers of America - is a youth leadership organization that provides programs and experience to students interested in agriculture education. The Virginia FFA Foundation is a separate nonprofit, with a separate governing body, from the Virginia FFA. The organization’s foundation collects money from businesses, organizations and individuals, and those funds support FFA activities.

The foundation’s volunteer treasurer admitted to state police that he took $722,849 from foundation accounts without authorization and placed the money in a personal account for his own business. The foundation's treasurer until approximately June 1, was the only person authorized to write checks. Where was the board?

Nonprofit Imperative gathers its information principally from public documents...some of which are directly quoted. Virtually all cited are in some phase of criminal proceedings; some have not been charged, however. Cites in various media: Featured in print, broadcast, and online media outlets, including: Vermont Public Radio, Miami Herald, National Public Radio, Huffington Post, The Sun News, Atlanta Journal Constitution, Wall Street Journal (Profile, News and Photos), FOX2, ABC Spotlight on the News, WWJ Radio, Ethics World, Aspen Philanthropy Newsletter, Harvard Business Review, Current Affairs, The Chronicle of Philanthropy, St. Petersburg Times, B, USA Today Topics,, Responsive Philanthropy Magazine, New York Times...and many more Nonprofits: On the Brink (2006) Silence: The Impending Threat to the Charitable Sector (2011)
Post a Comment