Tuesday, January 20, 2015

The Saga of Oral Roberts University

ORUA number of years ago we reported on the rescue of Oral Roberts University from looming bankruptcy by a generous (to the tune of $70 million) donor after the resignation of the University's President.  I recently came across a detailed account of the circumstances that led up to this dramatic event, published by This Land Press, an Oklahoma based media company.  While not focused on legal issues, the story provides some fascinating details regarding how the University's Board of Regents - populated by a whose who of televangelists - learned about and reacted to accusations that the University's President, who was also Oral Roberts' son, had received improper personal financial benefits from the institution.  It also provides a detailed - and contestable - narrative about the motivations that led Oral Roberts to found the University and other, even less successful nonprofit ventures, and to try to keep leadernship of the Universithy within his family.

Lloyd Mayer

https://lawprofessors.typepad.com/nonprofit/2015/01/the-saga-of-oral-roberts-university.html

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