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State regulators seek greater conrol |
For my nonprofit friends...
You can only access the full article through a subscription to the Chronicle of Philanthropy, but here is an eye-opening beginning paragraph and link to a draft of the measure he is talking about:
By Mark J. Fitzgibbons/ Chronicle of Philanthropy
State regulators are trying to persuade lawmakers to pass a dangerous new measure that would give them greater control over how a charity uses its money and other resources.
Regulators are pushing a new model law in the hopes that all states will adopt the same version of a new Oversight of Charitable Assets Act. Below is a link to the draft. It bears looking into for nonprofit boards and management staff.
http://www.law.upenn.edu/bll/archives/ulc/ocaa/2010feb5%20meeting%20draft.pdf
DCR