Raising The Charity Accountability Bar
The raiding of a Toms River nonprofit's funds by its onetime treasurer is only the most recent instance of a growing trend, says Shore Assemblyman Jim Holzapfel.
He's introducing legislation to raise the accountability bar. The Republican says his bill updates a 1994 law requiring charitable groups to report finances over $25,000 to the state. His measure would require fidelity bonding for those with check-writing authorization.
Holzapfel acknowledges the effects of a bad economy - but says that it can't justify criminal acts.
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