When the FBI shows up at your charter school and seizes your financial records, you can be pretty confident that "Something May Not Be Right In your Nonprofit".
Our case today is in Philadelphia where the FBI has seized the financial records of two charter schools. According to the Inquirer, this is
"the latest in a string of investigations into possible financial mismanagement at city charters.....In recent months, several Philadelphia-area charter schools have come under investigation for fiscal wrongdoing.
Last month, two leaders of the Philadelphia Academy Charter School pleaded guilty in federal court to stealing funds from the school. In May, Brien N. Gardiner, founder of the school, committed suicide.
Allegations of financial mismanagement have also been leveled at New Media Technology Charter School, with campuses in the city's Germantown and Stenton neighborhoods, and Germantown Settlement Charter School, which closed in June.
In my judgement, if there was ever a need for good governance, it's at these Charter Schools. Clearly someone is failing to provide oversight and I believe that all nonprofit oversight must begin with the board of directors.