The board of the Wounded Warrior Project (WWP) - one of the America's most well-known charities focused primarily on injured veterans and their families - has just fired the top two executives running the organization.
CEO Steven Nardizzi and COO Al Giordano were both let go from the company this week after reports that donation money had been misused over the past four years.
Charity Navigator, a website that ranks different charitable groups on financial transparency and the percent of money spent on their mission, recently placed the WWP on their "Charity Watch List", due to reports in January from CBS News and The New York Times about the possible misuse of raised donations by top executives.
Charity Navigator currently rates the Wounded Warrior Project 3 stars out of 4, however the financial score is only 2 stars out of 4. According to Charity Navigator, only about 60% of the company's total expenses were spent on its services to veterans, while 34% was spent on fundraising expenses, and the remaining 6% on administrative expenses.
For comparison, some other charities that service veterans, including the Fisher House Foundation, Building Homes for Heroes, and the Navy Seal Foundation all keep financial and administrative expenses well below 10% each. All of these charities are rated 4 stars by Charity Navigator.