NY Post: Audit finds Sharpton's nonprofit on brink

By CARL CAMPANILE
Last Updated: 10:22 AM, September 7, 2010
Posted: 3:51 AM, September 7, 2010

An accounting firm hired by Al Sharpton's National Action Network found the civil-rights group in such financial disarray that it flunked its record-keeping -- and may not even survive, The Post has learned.

The scathing critique was spelled out in a hard-hitting internal audit of NAN's books, a copy of which was obtained by The Post.

"The organization has suffered recurring decreases in net assets -- and has been dependent upon advances from related parties and the nonpayment of payroll tax obligations -- to maintain continuity," the firm KBL concluded in an April 2 audit of NAN's 2008 financial records, the most recent available.

Read more: http://www.nypost.com/p/news/local/al_net_lo_es_f52rRrLNnBRAZagK0TgvwN#ixzz0yrKoJbOp