Still no audit of Minneapolis NAACP branch books?
Topic: NAACP
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An audit of the Minneapolis NAACP branch & NAACP Parent Information Centers financial books and records was supposed to be underway by the end of April 2005 and completed by sometime in May or early June 2005. However, at the branch Executive Committee meeting in late June, Branch President Duane Reed reported that the auditor was still asking for more information. And at the EC meeting in August there was still no audit and no written report about the audit.

THREE BANK ACCOUNTS OR TEN?

On 25 March 2005 Doug Mann and Carol White were removed from the Minneapolis NAACP Executive Committee for calling 2 special EC meetings, on 25 February and 17 March 2005, to address the EC's noncompliance with findings of the bookkeeper, Mr. Jamal, which were reported to an irregular meeting of the EC on 8 February 2005. One of Mr. Jamal's findings was that an audit of the financial books and records was legally required.

At the Special EC meeting on Feb 25 it was also reported that Mr. Jamal had informed those who attended the 8 February 2005 meeting that the branch had 10 bank accounts, at that moment. However, Branch Treasurer Jesse Overton, who organized and attended the 8 Feb 2005 meeting, subsequently submitted written reports to the Executive Committee and branch membership which indicated that the branch only had 3 bank accounts, plus a few special restricted-use accounts.

ABOUT THAT MISSING $86,000

In 2001 a member of the Minneapolis NAACP Executive Committee, Ron Edwards started asking about the disappearance of about $86,000 that the branch had cleared from a 'Freedom Fund' banquet in November 2000, where Nelson Mandela spoke. Edwards' perseverance in posing that question and demanding an audit of the branch books eventually forced branch officers to admit that $86,000 had disappeared. Mr.Edwards was expelled from the NAACP in the fall of 2003.

At a branch meeting in mid-2003, acting Treasurer Sam Richardson reported that approximately $86,000 in missing funds had been invested, but offered no specifics. And at a subsequent NAACP branch meeting in the summer of 2003, President Albert Galmon reported that the $86,000 had been traced to accounts at Piper-Jaffrey / US Bank, but further information about that was not forthcoming.

The mysterious $86,000 investment is reportedly an off the books "loan" to an officer of the NAACP branch and his business partners for investment in grocery stores that soon went under. There was never a written agreement to repay the loan.

Even if the relevant branch financial records have been destroyed, the missing $86,000 can be tracked down by an auditor with access to the necessary bank records for the calendar years 2001 and 2002. Bank records are supposed to be kept intact for a minimum of 6 years.

As I have previously reported in "Minneapolis NAACP branch audit and hidden records" (see link below), the branch treasurer, Jesse Overton reported that the audit would only cover the years 2003 and 2004. The last audit was done in 1998.

MINNEAPOLIS NAACP BRANCH AUDIT &HIDDEN RECORDS
by Doug Mann, In two parts

Part One
*MINNEAPOLIS NAACP TO HAVE FULL AUDIT ONLY FOR 2003-2004
*Post to Mpls issue list by Booker Hodges, 2nd VP, Mpls NAACP
https://educationright.tripod.com/id461.htm

Part Two
*MOTION TO COMPLY WITH THE LAW RULED "OUT OF ORDER"
*THE $85,000 LOAN FOR INVESTMENT IN GROCERY STORES
*NAACP MEMBERS HAVE NO RIGHTS THEIR OFFICERS MUST RESPECT
https://educationright.tripod.com/id463.htm

Also see:
Breeding, Overton and Reed must go: Report to NAACP branch Exec. Ctte meeting of 3-17-05, by Doug Mann.
https://educationright.tripod.com/id449.htm