Wounded Warrior Project under fire for spending

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Veterans Charity Put On Watch List After Reports Of Excessive Spending

A prominent veterans organization was added to a charity watch list in light of investigative reports.

The Wounded Warrior Project is well-known for its post-traumatic stress disorder recovery services. It also offers inclusive fitness programs, employment assistance and peer mentorship to veterans.

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In a CBS report, the Wounded Warrior Project was accused of excessive spending on employee programming and inflating the reported percent of donations spent on veteran services. The nonprofit has disputed multiple claims in the report.

Steven Nardizzi The group's CEO, who has served in the role since 2009, was paid $496,415 in 2014 according to the CBS report, which also alleges that former WWP employees say that amount seems too high. CharityWatch president Daniel Borochoff told CBS his biggest concern was that the charity has a $248 million surplus, a possible sign that it could easily spend more on the veterans it claims to serve.

See images of Project events involving Obama and more:

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Wounded Warrior Project under fire for spending
WASHINGTON, DC - APRIL 17: (L-R) U.S. President Barack Obama, Vice President Joe Biden and Veterans Affairs Secretary Eric Shinseki cheer the participants of the seventh annual Wounded Warrior Project's Soldier Ride on the driveway of the South Lawn of the White House April 17, 2014 in Washington, DC. According to the Wounded Warrior Project, the four-day ride uses 'cycling and the bonds of service to overcome physical, mental, or emotional wounds.' (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC - APRIL 16: U.S. President Barack Obama welcomes veterans participating in the Wounded Warrior Project's Soldier Ride to the White House in celebration of the eighth annual Soldier Ride April 16, 2015 in Washington, DC. The Wounded Warrior Project is a charitable organization offering programs, services and events for U.S. military veterans wounded in conflicts that have occurred in the wake of the September 11 attacks. (Photo by Win McNamee/Getty Images)
US President Barack Obama applauds as Wounded Warrior Projectâs Soldier Ride participants ride past him on the South Lawn of the White House in Washington, DC, on April 17, 2013. The Soldier Ride is a four-day cycling event for wounded veterans to overcome physical, mental, or emotional wounds. AFP PHOTO/Jewel Samad (Photo credit should read JEWEL SAMAD/AFP/Getty Images)
WASHINGTON - APRIL 24: (AFP OUT) U.S. President George W. Bush greets an unidentified member of the Wounded Warrior Soldier Ride at the South Lawn of the White House April 24, 2008 in Washington, DC. President George W. Bush kicked off the Wounded Warrior Project?s second annual 'Soldier Ride: White House to Light House Challenge' which participators will bike 65 miles from the White House to Annapolis, Maryland, a three-day trip to raise awareness of the capabilities of the nation?s injured service men and women. (Photo by Alex Wong/Getty Images)
WASHINGTON - APRIL 24: (AFP OUT) Friends and families watch as members of the Wounded Warrior Soldier Ride leave the South Lawn of the White House April 24, 2008 in Washington, DC. President George W. Bush kicked off the Wounded Warrior Project?s second annual 'Soldier Ride: White House to Light House Challenge' which participators will bike 65 miles from the White House to Annapolis, Maryland, a three-day trip to raise awareness of the capabilities of the nation?s injured service men and women. (Photo by Alex Wong/Getty Images)
NEW YORK - NOVEMBER 11 2015: A wreath from the Wounded Warrior Project at the Eternal Light Monument for the ceremony in Madison Square Park before the Americas Parade up 5th Avenue on Veterans Day.
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Charity watchdog Charity Navigator cites reports from CBS and The New York Times for Wounded Warrior Project's watch list status.

Being placed on the watch list doesn't remove a charity's rating or equate to a more serious "Donor Advisory." Charity Navigator still lists a three-star overall rating for the organization, out of a possible four stars, and a two-star financial rating.

But the decision could make some would-be donors think twice.

The Wounded Warrior Project has a C rating from a different charity monitoring group.

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