In 1986, William Fugazy Sr. founded the National Ethnic Coalition of Organizations (NECO) to recognize the achievement of individual immigrants and the immigrant experience in general. Now Fugazy’s son charges that NECO’s Iranian-born chairman, Nasser Kazeminy, who also received the award, is abusing his position to promote himself.
According to the New York Post, Fugazy says Kazeminy has failed to hold election meetings to select new officers and has taken NECO into the red financially. He has been funneling money to other charities as well. “It’s not a PR firm for him,” says the younger Fugazy.
Fugazy Jr., who is a vice chair on the board, said he has informed other board members, but that nothing has happened. They have not had a membership meeting since 2004, despite a message from the New York state Attorney General’s Office in March 2010 to hold one within 60 days.
Kazeminy, who leads the Minneapolis investment firm NJK Holding Corp., joined the board in 2003. He made a fortune through computer leasing. He is known for significant financial contributions to charities, but what is disturbing to Fugazy is that many of these contributions are made through NECO.
Kazeminy sent $170,000 in 2006 to NECO to distribute to other charities, including $50,000 to California’s Hugh O’Brien Leadership organization. Kazeminy later received that organization’s Albert Schweitzer Leadership Award. Another $50,000 was sent to the Catholic Knights of Malta, which Kazeminy states made him a member. The Knights said he was only commended, not inducted. Kazeminy’s company then gave another $94,225 to the Knights through NECO.
The Post said Kazeminy also sent $20,000 through NECO to the Maziar Foundation, which financially supports Iran’s student movement. Fugazy asks why Kazeminy does not directly fund these organizations rather than funneling the money through NECO.
In addition, Fugazy complains that Kazeminy is mis-managing NECO, which ran up a $270,000 deficit in 2009. That same year, he says, NECO President Maurice Buckly got a raise of $30,000 while also earning $106,575 from another NECO-funded nonprofit.
The internal turmoil at NECO has become public just before the next Medals of Honor are to be awarded May 7.