Directors’ November 2023 BSPD Digest

Week 1 – November 7^th, 2023 Theme: A Violation of Trust: Fraud Risk in Nonprofit Organizations

A survey of nonprofits conducted in by the Association of Certified Fraud Examiners found that the median cost of fraud to non-profits in 2021 was $100,000! Fraud can exist in various forms from embezzlement to ghost employees to fictitious vendor schemes and more. Learn more about what to watch for and how to prevent fraud here: https://nonprofitrisk.org/resources/articles/a-violation-of-trust-fraud-risk-in-nonprofit-organizations/

Week 2 – November 14^th, 2023 Theme: Five Red Flags for Embezzlement

There are 5 red flags directors should watch for to prevent fraud from embezzlement. Find out what they are here: https://nonprofitsolutionslaw.com/blog/2020/10/8/five-red-flags-for-embezzlement

Week 3 – November 21^st, 2023 Theme: Financial Control Recommendations for Small Nonprofits

Internal Controls are key to preventing fraud. Find some of the most common controls, and the basics of how to implement them in this resource from Oregon, and remember to check your own state regulations as well: https://www.doj.state.or.us/charitable-activities/laws-guides-for-charities/financial-control-recommendations-small-nonprofits/