They do not need to spend it all but they do have to account for where the money goes.
As for me, I'm in the hole every month paying out of pocket more than comes in.
Oregon Attorney General wants to shut down Veterans of Oregon nonprofit
Published: Monday, July 19, 2010
Julie Sullivan, The Oregonian
Oregon's Attorney General wants a popular nonprofit that awards honorary medals to military veterans shut down for deceiving donors.
John Kroger said that Veterans of Oregon telemarketers told donors their money would feed, house and provide medical care for homeless and ill vets. Instead, 80 percent of the cash raised over two years -- about $500,000 -- went to the Michigan telemarketing firm making the calls.
The Department of Justice has sued the nonprofit veterans group and its for-profit fundraiser, Associated Community Services, saying it "spent nothing or only token amounts on the programs described" in solicitations. The state alleges that much of the remaining 20 percent went to founder John Neuman and his associates' expenses for the $6 medals and travel to award ceremonies.
read more here
http://www.oregonlive.com/news/index.ssf/2010/07/post_114.html
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