By Joe Raineri and Sabinna Pierre | KGW8 News
Devon Horace, the former president of the now-defunct Alberta Main Street nonprofit, has pleaded no contest to embezzling over $100,000 from the organization. The plea agreement, reached in a Multnomah County Court in February allows Horace to avoid a lengthy prison sentence. Instead, he will pay $50,000 in restitution and serve 12 months of probation.
Horace, who led Alberta Main Street from July 2021 to January 2023, was accused of misappropriating funds from the nonprofit, which was dedicated to supporting local businesses and organizing community events in Portland’s Alberta Arts District. During his time as president, Horace solicited donations in bad faith, withdrew money from the organization’s accounts without authorization and falsified financial records to conceal his actions.
According to court documents, Horace took substantial sums of money, including donations from major companies, like Nike Inc. and the Portland Trail Blazers. He withdrew funds from the organization’s account on the same day they were deposited, using the money for personal expenses. The total amount stolen was more than $100,000.
The financial mismanagement ultimately led to the collapse of Alberta Main Street, which had been a staple of the Concordia neighborhood for over a decade. The nonprofit’s mission to promote local businesses and organize beloved community events, such as the Alberta Street Fair and the Christmas tree lighting, came to an end in February 2023 due to the financial instability caused by Horace’s theft.
A statement from the Multnomah County District Attorney’s Office outlined the scope of Horace’s actions. The office confirmed that Horace misappropriated restricted funds, made false statements to the nonprofit’s board, and concealed his theft by falsifying bank records. These actions, the statement said, directly contributed to the nonprofit’s closure.
“Alberta Main Street was a 501(c)(3) organization with a mission to develop Alberta Street as a vibrant, sustainable commercial district,” the District Attorney’s Office said. “Horace’s actions undermined the organization’s mission and caused significant harm to the community.”
Despite the severity of the charges, Horace’s plea agreement allows him to avoid a lengthy trial and prison time. In court, Horace acknowledged his wrongdoing but did not issue a public apology to the nonprofit or its supporters. Instead, he expressed a desire to move forward with integrity.
“I’ve accepted this not as an admission of guilt but as a step to move forward,” Horace said. “I want to close this chapter of my life with integrity, and I take full accountability.”
Though he acknowledged the challenges he has faced in recent years, Horace did not focus on the harm done to the nonprofit.
“I’ve lost many professional opportunities despite these hardships,” he said, “but I try not to dwell on that and instead focus on what I can do for others.”
The financial misdeeds came to light after a forensic accounting investigation revealed discrepancies in the nonprofit’s financial records. James Armstrong, the interim president of Alberta Main Street, took on the task of reconciling the organization’s accounts after a mass exodus from the nonprofit’s board in February 2023. Armstrong, a former board member, said that the organization is cooperating with investigators and has continued to operate virtually while working to recover from the financial damage caused by Horace’s actions.
For the community, the loss of Alberta Main Street has been deeply felt. The nonprofit had supported local businesses and organized important community events for years, and its closure has left many wondering about the future of these beloved traditions.
“It would be like a ghost town,” said Allison Chown, owner of Mimosa Studios and a former board member of Alberta Main Street. “Everyone would come in here and ask what happened to Alberta Main Street.”
Chown, who was on the board from 2011 to 2016, said she was shocked by the scale of the theft. “I never saw a withdrawal as large as $64,000,” she said. “As a nonprofit, that was really surprising. Normally, withdrawals would be for regular expenses, like payroll, but never amounts like that.”
The interim board, led by Armstrong, is working hard to maintain the community’s events and rebuild the nonprofit in the future. However, without the necessary funds, this process has been challenging. Armstrong has been focused on reconciling financial records and ensuring that the community’s needs are met, even if Alberta Main Street is no longer in operation.
Horace’s legal troubles are far from over. Although the plea agreement has resolved the immediate charges, the Multnomah County District Attorney’s Office continues to investigate additional stolen funds, including another $50,000 that Horace is accused of taking. He is scheduled to return to court in one year to address this additional amount. The case has sparked outrage among many community members, who feel that Horace should have faced harsher consequences.
We need accountability,” said one local resident. “This isn’t just about money; it’s about the trust he broke with the community.”
The Multnomah County District Attorney’s Office has emphasized its commitment to prosecuting financial crimes, particularly those that exploit nonprofit organizations.
“These types of crimes have serious consequences for the victims and for the broader community,” the office said in a statement.
For now, the Alberta neighborhood continues to cope with the loss of a crucial community organization, while hoping for justice and potential restitution.
Original article: Ex-president of Portland nonprofit pleads no contest to stealing over $100K | kgw.com