By Michelle A. Adams
Attorney in Georgia
California’s Attorney General filed suit against the L.B. Research Foundation (“L.B.”) and its board members this past September, disclosing alleged areas of “gross mismanagement” and requesting involuntary dissolution of the organization.
The apparent deficiencies noted, as described below, could easily occur in charities that are not aware of pertinent legal requirements.
Failure to Maintain Adequate Books & Records
L.B. was unable to produce many of the many of the documents requested by the Attorney General, including adopted bylaws, grant applications, grant agreements, final grant reports, or meeting minutes for the first 7 years -...
posted @ Monday, December 14, 2009 3:27 PM |