Mismanagement led to N.C. nonprofit’s $1.5 deficit
Poor management, not the misappropriation of funds, caused a $1.5 million deficit for the Autism Society of North Carolina in 2007, according to an investigation by the state auditor’s office, Triangle Business Journal reported Aug. 21 (see deficit story). The lack of oversight also led to the departure of two top executives and the layoff of seven workers.
Anonymous donor gives $5 million
An anonymous donor mailed a $5-million check to California State University, Northridge, to be used for student assistance, The Los Angeles Daily News reported Aug. 21 (see check story). The gift, one of the largest in the school’s history, will provide scholarships for students with high academic achievement and financial need.
Volunteer admits to stealing from nonprofit
Raffi Donoyan pleaded guilty to stealing more than $120,000 from the nonprofit youth organization in Watertown, Mass., where he worked as a volunteer athletic director and board member from 2003 to 2005, the Associated Press reported Aug. 22. Some of the funds stolen from Homenetmen Eastern Region Inc., which organizes athletic activities for youth of Armenian descent, were deposits paid by the young athletes to attend the organization’s annual international competition.
* Nonprofits in the St. Louis, Mo., area are courting Anheuser-Busch shareholders for donations of stocks in advance of the company’s $52 billion takeover by Belgian brewer InBev, The St. Louis Business Journal reported Aug. 22.
* ACT and Intiman, two of Seattle’s most prominent theater companies, have new CEOs to lead needed fundraising efforts, The Seattle Post Intelligencer reported Aug. 21.
* Joseph Rogers, president and senior scientist at the Sun Health Research Institute, received the Lifetime Achievement Award at the 2008 Health Care Heroes Awards breakfast in Phoenix for his pioneering research on Alzheimer’s disease, The Phoenix Business Journal reported Aug. 21.