November 1-15, 2006
Last Issue: October 16-31, 2006
Grasso
Breached Fiduciary Duty
By Failing to Report Income to Board
New York Court orders former NYSE CEO
to repay millions of his compensation
Full Article (free)
CRAT
Trustee Not Required
To Diversity Stock Holdings
Trustee did not breach duty to remainder charities
by taking 10 months to divest Lilly stock during market decline
Court Refuses to Permit Trust
To Meet Foundation Payout Requirement
Decision apparently overlooks fact that undistributed
income
eventually goes to pay federal excise taxes, not fulfill trust’s
purpose
Ready Reference Page - No. 96
IRS Provides Interim Guidance
On Pension Act Provisions
Standards given for foundation grants to SOs,
applicability dates, disaster relief funds, and scholarships
- Last Minute Gift for a Colleague—and Yourself.
- Thursday with the Editor, December 28
To the Point
As
a member of the Board of Directors, I have been told that
the salary of our Executive Director is protected information
not available to me or the public. Is this correct?
Answer
Lessons from Litigation
Full
Article
- Bequest for conservation purposes creates trust
- Hospital not liable for acts of agency nursing assistant
Tax Matters Full Article
- Charity can’t join benefits firm in tax refund claim
- Even the U.S. gets the terminology wrong
Employment Law Full Article
- Supervisor’s making life miserable may be constructive discharge
What our readers say about Nonprofit Issues
Once again you've tackled a tricky question and explained it so we all can understand the issue.--M.V.
Thank you for your informative and keen advice on nonprofit matters. I believe its a unique and concise place to get answers to this often wispy area called nonprofit. --R.T.
