Monday, April 11, 2005

The Chronicle, 4/14/2005: Loss of Trust

The Chronicle, 4/14/2005: Loss of Trust: "Loss of Trust
Donors, foundations say banks mishandle charitable accounts
By Brad Wolverton
Many charities and foundations believe they are losing millions of dollars a year to the very institutions they pay to safeguard their assets. At least seven class-action lawsuits are pending in federal and state courts across the country in which charitable trusts, foundations, and scores of individuals accuse the banks that oversee their assets of a range of improper activities, including mismanagement of funds and conflicts over what charities can benefit from a trust."

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