A 52-year-old woman suspected of stealing $100,000 from the Silicon Valley Community Foundation has been arrested, Mountain View police confirmed Wednesday.
Frances Louise Stewart, a San Carlos resident and former foundation employee, was arrested without incident at a friend's home in Redwood City at 3 p.m. today, according to Officer Steve McCoy, a spokesman for the Mountain View Police Department. A warrant for her arrest was issued Dec. 24.
"Stewart was the sole focus of our investigation. Our investigation is still in progress," McCoy said.
She was transported to the main jail in San Jose and booked. McCoy said she is being cooperative. He did not have a date for her court appearance, he said.
Stewart was fired on Monday after the foundation's finance department discovered the $100,000 loss, said Rebecca Salner, media relations officer for the nonprofit, located in Mountain View on El Camino Real near Showers Drive.
Stewart worked in the human-resources department. The money taken was from "flexible spending accounts" that are used for employee health care and dependent care expenses.
The monies were not budgeted for any philanthropic grants or programs, according to a statement on the organization's website.
The Community Foundation oversees donations to numerous local nonprofit organizations and in 2008 awarded $264 million in grants.