Wednesday, January 9, 2008

Holden Karnofsky, Founder of GiveWell, a Nonprofit, Demoted by Board of Directors

The New York Times reported yesterday, January 8, that the founder of a charity, GiveWell, a new nonprofit research organization, was demoted from "founder/CEO" to "program officer" last week for promoting GiveWell on a website by posing as a prospective charitable donor seeking information.  This is a good example of when boards take their fiduciary duties seriously.  In response to the founder's poor judgment, the board required him to enroll in a professional development course, paid for with money withheld for the founder's salary.  To see the full article, New York Times.

amt

http://lawprofessors.typepad.com/nonprofit/2008/01/holden-karnofsk.html

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