Whew! Usually I am reporting on stories about a nonprofit staff member stealing from the organization. Today I am reporting about a nonprofit board member who managed to steal nearly $700,000 from a Catholic Charity.
The embezzler in question was apparently the Vice President of Finance and he managed to transfer this money from the Knights of Columbus owned nursing home to his own account. Talk about a failure in checks-and-balances! And what is this board position anyway -- Vice President of Finance? The position gave a board member enough authority to transfer this kind of money?
This place needs some seriously revised systems at the very minimum and should do some rethinking of board positions and authority.
Click here to view the story from the San Francisco Chronicle.