Corruption and how to deal with it. - Sox, Basel II

've got a couple of questions about corruption.
I'm part of a non-profit organisation that is devoted to helping its members learn and develop in a particular subject. It makes money from
selling books on the subject (a discount is given to members), from membership fees and from conferences.
It has a board of directors that have been behaving strangely for some time. Just recently they've published minutes in which they are offering a collection of books, usually sold by the organisation, to the directors at cost price. This is a new an desireable collection of books that sells for about 100 pounds. They are supplied at cost from the publishers at about 50 pounds. As far as I can see there is no benefit to the members from directors getting the books at half price - in fact there is a disadvantage because the organisation will lose 250 pounds income that it would otherwise get (5 directors X 50 pounts).
I think that this is a corrupt practice, the directors are putting their personal interest before that of the company that they are responsible for and using company money (the 250 pounds) for personal ends. This is certainly not the first time that this sort of thing has happened and it is openly recorded in the minutes.
My questions are:
- Is this corruption? - Is it theft? - Is it criminal? - Is it illegal? - What should I, as a member of the organisation, do? (I have already protested to the chairman of the board and had a rude letter back)
The above is one instance, there are others. Also, over the past two years, two separate committees have resigned in protest and at least five members have resigned, also in protest at the board (the whole organisation has less than two hundred members).
Given this, it seems that something other than simply resigning is called for. What would you suggest?
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No, no, no and no. At least in the US. I would hope there's a limit to the number of sets of books they can buy at cost. Other than that, it's done all the time, by board approval of course.

If you don't like what they are doing to that degree, then quit.
You can't make them abide by your rules.
--
Paul A. Thomas, CPA
Athens, Georgia
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Are your accounts audited? If so, I would suggest speaking to the auditors and having them address the issue.

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