Sunday, February 19, 2012
Last Monday, we blogged about problems that had surfaced in New York's charity care system. Today we note that the New York Times is reporting that New York's Attorney General, Eric T. Schneiderman, has proposed a plan to overhaul the way nonprofit groups operate in that state. According to the Times, the proposal "is as much an aid package for nonprofit groups as an attempt to hold the line on runaway compensation and other abuses."
Among other things, the proposal calls for state-backed, zero-interest loans for struggling nonprofits and changes to state laws and regulations to make them more friendly to nonprofits in general. Mr. Schneiderman's plan also proposes "some steps to bolster self-policing by nonprofit groups, including the use of independent directors to monitor compensation."