'Swimming in cash' makes youth clubs vulnerable
The last time we reported about embezzlement at a youth soccer club or league, the figures were $40,000 and $15,000.
Now comes news from Boston Globe Magazine of an alleged $195,000 rip-off at the Framingham United Soccer Club, which serves 1,200 children between the ages of 5 and 18. A club treasurer and longtime volunteer is accused of using the club debit card for personal expenses at liquor stores and restaurants, during a vacation, and to make daily purchases at Dunkin’ Donuts.
Reporter Hilary Levey Friedman, who is also the author of “Playing to Win: Raising Children in a Competitive Culture,” writes that:
“Part of the problem is that big youth sports organizations are swimming in cash. In 2013 in Massachusetts, 150 registered nonprofits running youth soccer programs reported more than $25 million in receipts to the Massachusetts attorney general. That figure doesn’t take into account the for-profit soccer programs.”
Nationwide, youth nonprofits of all kinds of sports pull in between $7 billion and $9 billion in participation fees in clubs, leagues, and tournaments, according to the National Center for Charitable Statistics.
Levey Friedman quotes Middlesex District Attorney Marian Ryan’s advice for youth sports organizations:
“We encourage organizations to implement internal controls to help prevent theft including having two signatures on checks over a determined amount, reviewing monthly bank statements for inaccuracies or large withdrawals, and restricting the use of an organization credit card.”
The last time we reported about embezzlement at a youth soccer club or league, the figures were $40,000 and $15,000.
Now comes news from Boston Globe Magazine of an alleged $195,000 rip-off at the Framingham United Soccer Club, which serves 1,200 children between the ages of 5 and 18. A club treasurer and longtime volunteer is accused of using the club debit card for personal expenses at liquor stores and restaurants, during a vacation, and to make daily purchases at Dunkin’ Donuts.
Reporter Hilary Levey Friedman, who is also the author of “Playing to Win: Raising Children in a Competitive Culture,” writes that:
“Part of the problem is that big youth sports organizations are swimming in cash. In 2013 in Massachusetts, 150 registered nonprofits running youth soccer programs reported more than $25 million in receipts to the Massachusetts attorney general. That figure doesn’t take into account the for-profit soccer programs.”
Nationwide, youth nonprofits of all kinds of sports pull in between $7 billion and $9 billion in participation fees in clubs, leagues, and tournaments, according to the National Center for Charitable Statistics.
Levey Friedman quotes Middlesex District Attorney Marian Ryan’s advice for youth sports organizations:
“We encourage organizations to implement internal controls to help prevent theft including having two signatures on checks over a determined amount, reviewing monthly bank statements for inaccuracies or large withdrawals, and restricting the use of an organization credit card.”