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Nose for News 
Group: Members
Posts: 431
Joined: Feb. 2004
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Posted on: Feb. 16 2004,7:24 pm |
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In the Albert Lea Tribune front page today (not on the trib web)
A story about the attorney general's investigation into several nonprofit organizations for proper oversight, including loans to their officers, directors and employees. According to The Chronicle of Philanthropy, some nonprofit groups have made loans with no interest and sometimes don't have to be repaid . In the story according to the Chrononicle seventeen MN organizations have made loans of $10,000 or more. Included is the Mayo Foundation. Some of this group didn't follow at least the policy of multiple-employee membership on the board according to federal tax documents they filed.
Charities Review Council Recomendations
2D. Not more than one member of the governing board is a paid staff person of the organization
http://www.crcmn.org/standards/index.htm
Check out our local charities ALBERT LEA MEDICAL CENTER --MAYO HEALTH SYSTEM and ST. JOHN'S LUTHERAN HOME OF ALBERT LEA are the only two that don't follow the recommendation of multiple-employee membership on the board as of 2002 records filed with the state.
http://www.ag.state.mn.us/charities/Char_Srch.asp
Click link above and type in Albert Lea MN in proper boxes
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DISCLAIMER
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Nose for News Is Pleased To Announce That We Have Absolutely No Affiliation Whatsoever With The Albert Lea Tribune Or Its Parent, Boone Publishing.
Like Other Minnesota/Iowa Residents, We Simply Endure Them.
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minnow
Group: Members
Posts: 2243
Joined: Aug. 2003
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Posted on: Feb. 16 2004,7:48 pm |
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So what this means is--->More old boy chronyism...
It means they load the controlling board with employee's. People who draw a salary from it. Now they can vote themselves free loans and other perks.
The world revolves around $$$ now doesn't it eh?
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