Helping Nonprofits Police Themselves: What Trust Law Can Teach Us About Conflicts of Interest
19 Pages Posted: 29 Oct 2019
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Helping Nonprofits Police Themselves: What Trust Law Can Teach Us About Conflicts of Interest
Date Written: October 28, 2019
Abstract
Over the past decade, scandals involving nonprofit boards and conflicts of interest have been the subject of considerable public attention. The resulting bad publicity, Congressional hearings, and calls for reform have failed to mitigate the problem. In 2009 alone the country witnessed several spectacular examples of self-dealing by nonprofit directors. For example, The Boston Globe recently reported that Suffolk University has a $10,000 per month contract with Wolfblock Public Strategies, lobbyist Robert Crowe’s firm. Robert Crowe is also a Suffolk University trustee, and a member of the compensation committee that made University President David Sargent the highest-paid University President in 2006.
Keywords: nonprofit boards, trust law, conflict of interest, fiduciaries, fiduciary duty, corporate law
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