You may ask why a law firm that represents nonprofits would write a newsletter article about the abuse scandal at Penn State University. While the scandal centered around the abuse committed by former assistant coach, Jerry Sandusky, the scandal in part occurred because of the abject failure of Penn State’s trustees to exercise their duty. …
Posts Categorized: Director Duties
Attorney General Takes Action
In most states, the Attorney General has the authority to govern organizations that administer or solicit charitable funds. While the authority varies by state, most Attorneys General require initial registrations as well as annual updates. But the Attorney General plays another important role. It acts on complaints about abuses and misuses of charitable assets. Corrective …
OFAC Violations, You Can Go to Jail this Time
Remember when we said you won’t go to jail for violating the California Attorney General’s rules on charitable solicitation? Well, you can go to jail for violating the Office of Foreign Assets Control (“OFAC”). OFAC administers economic sanctions against certain foreign countries, terrorists, international narcotics traffickers and persons or entities involved with weapons of mass …
Alleged Embezzlement Sets Off Review of Financial Procedures
How closely does your nonprofit’s board supervise financial transactions? Last week, a woman who handled financial transactions for the Roman Catholic Archdiocese of New York was charged with embezzling more than $1 million over 7 years. She allegedly issued hundreds of checks in small amounts to her son under the guise of paying bills to …
Are You Thinking of Joining a Nonprofit Board?
Questions to Ask Before Joining a Non-Profit Board.