Analysis Tools Unit 5 IP Research Paper Example | Topics and Well Written Essays - 500 words

Analysis Tools Unit 5 IP - Research Paper Example George Scott founded the non-profit in 1987 and it became the area’s largest provider of student housing; second only to the college dormitories (Dominick, 2012).Scott and his wife obtained a $13 million lease purchase on a building in New York and opened its doors to college students. In 2002, Scott formed a second company, Student Services Inc. which expanded support services to students to include cable, phone and Internet services. Student Services became an outlet to transfer funds from Educational Services through excessive invoices. The non-profit’s board of directors was responsible for reviewing the financials for Educational Housing Services; however, somewhere along the way the checks and balances ceased to happen. Annual Revenue & Expenses Financial information on GuideStar is either digitized from Form 990 images we receive from the IRS or submitted by the nonprofits themselves through the GuideStar Exchange (990 filers cannot override Form 990 financial data). If your organization does not file a Form 990, 990-EZ, or 990-PF and you would like to have your financial data displayed in this section, join the GuideStar Exchange today! Million in a restitution settlement. â€Å"Siphoning millions of dollars at the expense of college students is deplorable,† Attorney General Eric T. Schneiderman said in a statement. â€Å"We have no tolerance for officers and directors who treat a nonprofit organization as a vehicle for personal enrichment† (Dolnick, 2012). The Board of Directors was also cited for excessive salaries and negligent accounting methods. Educational Housing Services is now a private company with 24 years in the business. Scott could have kept a separate private corporation for his personal ambitions. Since the original venture became such a helpful success to himself and to so many others, it would have been wise to keep the books the way they were. There was nothing to prevent him from pursuing