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January 16-31, 2009

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January 16-31, 2009

January 16-31, 2009

Church Loses Over $291,000 Pursuing Anonymous Gift
Member took funds borrowed to purchase a $1 million bargain-sale property

Change in Time of Meeting Invalidates Corporate Action
Court says church pastor was not reappointed when annual meeting time was moved several hours

Niece Has No Standing To Enforce Terms of Gift
Court dismisses claim that hospital failed to use bequests for nursing school

Ready Reference Page No. 106-G
New "Core Form" Presents Revised Look for Nonprofit Finances - Part VII

Statement of Functional Expenses asks for more details, while balance sheet remains generally the same 

Issues Notes

  • Kramer to participate in PBI Institute
  • Talk with the Editor, April 16, 2009

To the Point

Our 501(c)(3) has had the same treasurer since 1986.  She is the only person who signs checks and is fighting adding anyone to the account.  We do not get monthly reports and there are some questions about some things, but we cannot seem to get a straight answer.  Everyone is aware of the situation but she was just reelected.  Are there federal laws governing how the money is to be handled?

Lessons from Litigation

  • Court approves settlement among charities
  • Who is more negligent in fall?
  • Service on lawyer effects notice

Tax Matters

  • No deduction for car “totaled” before gift
  • Summer camp not exempt from real estate tax

Employment Law

  • “Donor’s Bill of Rights” not key public policy

Say That Again

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