Remember when we said you won’t go to jail for violating the California Attorney General’s rules on charitable solicitation? Well, you can go to jail for violating the Office of Foreign Assets Control (“OFAC”). OFAC administers economic sanctions against certain foreign countries, terrorists, international narcotics traffickers and persons or entities involved with weapons of mass …
Posts Categorized: Accountability
Monitoring Your Fiscal Sponsor
Fiscally sponsored programs should vet and monitor their fiscal sponsors.
AG Proposes Changes to Penalties
Ever wonder what will happen if you don’t comply with the California Attorney General‘s rules on charitable solicitation? Stay up at night wondering whether you’re going to be carted off to jail for failing to register? Hopefully you didn’t spend too much time getting to know the current rules, because the AG is thinking about …
Alleged Embezzlement Sets Off Review of Financial Procedures
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 …
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.” https://bit.ly/lfnp106. The article sites a St. Louis Post-Dispatch article (https://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 …