I'm not truely involved in this, but with the word "audit" flying around so much, I wanted to ask my father (an IRS regional manager) what the implacations could be for something like this, just to make sure we truly grasped what an audit would involve. (First off, April, your right, he says it is a 501-C3.) I explained to him the situation with the NASC and Casper. I personaly do not see Casper making-off with the money (Remember, INNOCENT until proven guilty) but that is to be found out later; but if he did, my dad argrees that he has opened himself up to a lot of trouble. Mail fraud, tax exasion, embezzlement, state, local and federal tax dues...ect. However, as the situation is that Casper would have been stealing the money from the NASC, my father doesn't feel that the NASC has much to worry about at this point. He feels that Casper would be the target of any IRS audit, not NASC.
Cole