Wednesday, January 9, 2008
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.