Life Planning - Beware of Fraud in Non-Profit Organizations
There are some very important facts to know about non-profit organizations before donating to them or making the commitment to sit on the Board of Directors for one. Although there are many amazing chartities that do great work, an estimated $40-50 billion per year is lost to fraud in non-profits and scandal is found in nearly 20% of philanthropic organizations, according to the New York Times. Charities need to tighten controls against theft, especially in a tough economy. It is wise to be skeptical and first do your due diligence before involving yourself or your financial support.
*Care: Be a prudent board member and pay attention to what is going on and make decision based on good information.
References: www.irs.gov and Non-Profits for Dummies.
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