Inquiry Uncovers Lavish Spending by Charities
From Times Wire Reports
An investigation of charities nationwide has found that some use funds earmarked for charity to fund travel and lavish perks for foundation trustees, the Boston Globe reported.
While such extravagance has infuriated shareholders of public companies in recent years, similar practices among charities have gone largely unchecked, the newspaper said.
In one example, the paper found that the DeMoss Foundation, a $444-million private charitable group that supports Christian organizations, spent millions in the last 20 years on three jet aircraft.
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