Friday, March 16, 2012

International Sports Charity Focus of State Police Investigation

The Hartford Courant reports that Rhode Island State Police are looking into a variety of financial transactions engaged in by the Institute for International Sport that may have improperly benefited Executive Director Daniel Doyle Jr.  Among the transactions at issue are tuition payments for one of the Mr. Doyle's children, $80,000 of "reimbursed expenses" over two years, and millions of dollars in land purchases on an island where Mr. Doyle and an investment partner also owned property.  According to the Institute's website, Mr. Doyle founded the Institute in 1986 and has organized programs involving thousands of student-athletes around the world.  The Institute's most recent Form 990 available on Guidestar shows an annual budget that was $2.3 million in 2008 and $1.1 million in 2009, net assets of approximately $2 million, and annual reportable compensation paid to Mr. Doyle of $72,000 from the Institute, another $72,000 from related organizations, and $25,151 in other compensation from the Institute and related organizations.  The investigation apparently arose from Rhode island's acting state auditor raising questions about the Institute's use of a $575,000 government grant, and over the past month the Providence Journal has run dozens of stories on the Institute, including its financial and other connections to the University of Rhode Island.

LHM

http://lawprofessors.typepad.com/nonprofit/2012/03/international-sports-charity-focus-of-state-police-investigation.html

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