Turns out it wasn’t a typo. It was theft.
Somerville Homeless soon discovered that the COO — who handled all the finances — allegedly embezzled approximately $108,000 over 18 months. The charity said he brazenly added some of the money directly into his paycheck — where it showed up on the group’s annual financial forms — used the organization’s credit card for personal expenses, and added his middle-aged son to the group’s health insurance.
“The whole thing has been a nightmare,” said Mark Alston-Follansbee, executive director of the Somerville nonprofit, which provides food, shelter, and other assistance to about 2,000 people annually. “The money he stole from us could have prevented 100 families from going homeless.”
More than 1,100 tax-exempt organizations nationwide have reported theft, embezzlement, or other major diversions of assets over the past seven years, according to electronic filings with the Internal Revenue Service. And experts say the total number of thefts is almost certainly far higher, because most cases of fraud are either never detected or reported in the digital filings.
“It’s shockingly common,” said Gerry Zack, a certified fraud examiner who recently was named incoming chief executive of the Society of Corporate Compliance and Ethics, a Minneapolis-based organization.
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