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When funds go missing, what can you do? What must you do?

from From Nonprofit Quarterly

While there are few precedents for establishing the limits of a board's liability when organizational funds have been embezzled, it is generally clear that if board members have acted within their fiduciary capacity and have not been grossly negligent in their oversight of the nonprofit's funds, they cannot be held liable for the stolen funds. That does not prevent a state's attorney general from laying the blame on a board, however. more

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