July 16, 2012 to August 15, 2012
Lead Stories
Fundraiser Must Pay $8 Million For Violation of Confidentiality
Court affirms arbitrator’s award of compensatory and punitive damages for disclosure of information
Charity May Sue Director For Breach of Duty on Contract
Arbitration clause in construction contract does not prevent separate fiduciary duty claim in court
Officer Has No Property Right In Position on Executive Board
Court allows executive board to remove president by following procedures set forth in bylaws
Ready Reference
Mergers and Affiliations Require ‘Due Diligence’
Information gained in the process will help you know what you are getting into and may help structure the form of the transaction to protect what you have
To the Point
Will misuse of funds jeopardize our future applications for grants?
I am on the board of our 501(c)(3) nonprofit animal rescue where the president and treasurer have recently resigned. When we looked at the books we discovered that grant funds for spay neuter had been used for other purposes that we are not sure of. According to the terms of the grant, the funds were to be used for spay neuter only and if not used by December 2012, unused funds were to be returned. One of our Board members has now decided that we need to replace these funds and say nothing. What is the possible damage for such action and if the funds cannot be replaced, how does this jeopardize our future applications for grants?
Lessons from Litigation
Tax Matters
Employment Law