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Protecting Your Nonprofit Organization From Embezzlement and Fraud

A reporter was suprised when his son's coach was arrested for embezzling funds from the youth league's bank accounts. Bill Pennington wrote a New York Times feature, The Trusted Grown-Ups Who Steal Millions From Youth Sports highlighting similar occurances of fraud and embezzlement and demonstrated how destructive and pervasive these events are.

Board leadership must create an anti-fraud environment and put into practice regular reviews and financial best-practices to reduce risk to the organization. Using a cloud-based accounting software application with multiple users like Nonprofit Treasurer can certainly help your organization provide a transparent (and fraud-resistant) environment, but it is not the only practice your board must take. These short articles provide a good starting point to evaluate your risk and define some concrete measures that should be in place at your AVO: