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August 16 - September 15, 2004

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August 16 - September 15, 2004

August 16 - September 15, 2004

Volunteer Directors Not Liable To Entity For Breach of Fiduciary Duty
Statutory immunity except for “harm to the person” means harm to an individual, not an organization

In Uniform Management of Institutional Funds Act
Bankers, Bar ask for more time to consider sweeping changes to law governing endowments

Mississippi Hospital System Agrees To Settle Uninsured Patients’ Claims
Resolution requires refunds and reduced rates plus adoption of Sarbanes-Oxley provisions and conflict policies

Risk & Reward
The Board’s Role in Risk Management

Issues Notes
Thursday with the Editor, August 26, 1:00 ET
Have a pleasant end of summer

To the Point

I want to spend the rest of my life creating and directing musical choral ensembles. Is a nonprofit organization the way to go?

Lessons from Litigation

  • Bankrupt charity entitled to trust distribution
  • Director not indemnified as plaintiff
  • Nonprofit that squandered money in suit must pay more
  • Shut-down overrides bar against moving resident of home

Tax Matters

  • IRS “announces” compensation scrutiny
  • Property exempt partly as home and partly as place of worship

Employment Law

  • How broad is “ministerial exemption” for church employment?

Say That Again?

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