No subject
Mr. Algeier has allegedly requested funds from the IT-ISAC board, a nonprofit organization that operates using tax-exempt revenue. According to information shared with me, these funds were directed toward payments to his private company, Conrad, Inc.
It has been alleged that he requested inflated budgets categorized as “salaries” and operational expenses. The claim is that excess tax-exempt funds from these approved budgets were deposited into the Conrad, Inc. business account.
This information was reportedly shared and confirmed by an existing employee, Jonathan Braley, as well as other employees. In fact, several staff members are said to have left the organization after becoming aware of these financial practices.
If accurate, these allegations raise serious concerns regarding governance, financial oversight, and the appropriate use of nonprofit funds. I would strongly recommend an independent audit and formal investigation into Mr. Algeier’s financial dealings, including a review of IT-ISAC’s bank and savings accounts, as well as a detailed examination of expenditures and deposits made to employees and to the Conrad, Inc. business account.
