At AIM, we provide specialty insurance for many parent-teacher groups.
Here, embezzlement has become our #1 claim.
That fact alone says a lot. It’s easy to think “this could never happen to my group,” but history proves that it can and does happen to hard-working groups just like yours. In fact, it could be happening now, but you might not know until it’s too late. Why should you get PTO insurance today?
PTO Embezzlement is more common than you think…
One PTO in Virginia trusted their PTO treasurer, Victoria Joyce Carter, to properly handle their fundraising money. Money meant to support their elementary school and create future fundraising events. Thankfully someone was paying attention; Waynesboro City School officials reported suspicious fund activity from the school. An investigation opened and found that for nearly an entire year, money had been embezzled from the PTO. Victoria had stolen more than $12,000 and used it for personal expenses.
A similar case occurred in Connecticut. School officials became concerned about embezzlement from the elementary school’s PTO. Police found that PTO treasurer, Monica Bevilacqua, had been writing checks to herself. She was able to steal nearly $13,000 from the PTO that had placed their trust in her.
You might be tempted to rationalize these stories by assuming these treasurers may have had financial problems that pushed them past their limit. That this would never happen to your group because everyone there is a friend without the monetary distress that might tempt them into embezzling.
Surely this is what a PTO in Wisconsin had thought. As a financially sound teacher, PTO treasurer Renee M. La Fleur-Linder, left everyone shocked and confused when she stole over $14,000 from her Greenville Middle School PTO.
What do all of these stories have in common? The devastation of embezzlement; devastation that doesn’t have to be felt by you.
PTO insurance will protect you and your funds
Most organizations don’t know there is PTO embezzlement insurance available to them. Embezzlement insurance protects your organization’s money in case your officers, volunteers, or members decide your fund account is their new fun account. If this happens, AIM will replace the missing funds so you can continue doing your great work.
Embezzlement insurance is affordable, starting at $65 a year! AIM offers three standard coverage amounts: $10k, $25k, or $50k, but can go up to $250k. Get a quote in as little as three minutes, or call us 24/7 at 1-800-876-4044.
Don’t wait until the Spring Carnival to find out that someone has run off with your funds and left you without options. Your schools shouldn’t have to suffer for someone else’s mistakes.