RENO, Nev. (KOLO) – The North Tahoe Business Association (NTBA) has officially dissolved as of May 15 after significant financial “mishandling”, according to a letter from Interim Board President Sean O’Brien.
“The NTBA Board of Directors extends sincere gratitude to all former board members, staff, members, volunteers and sponsors who have supported the organization since its founding in 1979,” according to a post on NorthTahoeBusiness.org.
O’Brien said in April 2024, the NTBA board was notified of serious financial mishandling taking place that was in breach of the organization’s bylaws. The board suspended the executive director, then terminated the employee, and alerted the Placer County Sheriff’s Office.
“Unfortunately, despite the board’s efforts to stop the bleeding, the damage had been done,” O’Brien said.
Then the NTBA had an accountant forensically reconstruct its financial records for fiscal years 2020-2024.
“Each week of discovery added significant debt to the tally, more than anyone within the organization could have imagined,” O’Brien said.
The Placer County District Attorney’s office filed charges against the former executive director. The case is ongoing.
“I am thankful to say that, with the help of the North Tahoe Community Alliance’s guidance and support, the NTBA was able to carry out most of its normal programming since the terrible discovery in early 2024,” O’Brien said.
This includes Music on the Beach in Kings Beach; Labor Day drone show and concert; Kings Beach Snowfest parade; and Kings Beach clean-up days.
In fall 2024, a task force was formed to find a way forward for the NTBA.
“As these meetings unfolded, more and more financial liabilities came to the surface …” O’Brien said. “It became very clear … that the mounting debt was simply too large to overcome as an organization.”
To read O’Brien’s resolution declaring the dissolution of the NTBA letter, click here.
Copyright 2025 KOLO. All rights reserved.
