As a board member of a non-profit I know that someone took principal out of an endowment to cover overdrafts on a checking account. A month later they put the money back. There was cash reserve to cover the need, but they took the money from the endowment by mistake. They then put too much back in, now there are commingled funds. What are the ramifications? Do I need to report this to anyone?
Orignal From: What is the legal penalty for temporarily removing principal of an endowment?
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