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Did Your Charity Lose Your Donation Due to Improper Use of Funds?


Posted on December 10, 2013

On October 27, 2013, an article in the Washington Post detailed its analysis of IRS Form 990 tax returns between 2007 and 2012.  A Form 990 tax return is required to be filed annually by tax exempt non-profit or charitable organizations.

The Washington Post found that more than 1,000 non-profits reported to the IRS that a significant portion of their charitable assets was lost due to embezzlement, fraud, theft and other improper uses of funds.  As a result of The Washington Post’s article, several congressmen have expressed interest in this issue, including whether the public should know when charitable donations are diverted to non-charitable activities or are otherwise lost.  In one instance, according to The Washington Post, the American Legacy Foundation lost $3.4 million through embezzlement by a former employee but only told the IRS that the amount of the loss was more than $250,000.00.  Would you like to know if your charity lost or misused the funds that you donated?

 


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