[24128] in APO-L
Re: [APO-L] B oard liability
daemon@ATHENA.MIT.EDU (Kathryn Rose Thorsen)
Wed Jan 21 20:01:18 2004
Date: Wed, 21 Jan 2004 18:49:43 -0500
Reply-To: Kathryn Rose Thorsen <blackbird@SPRING.THEPOND.COM>
From: Kathryn Rose Thorsen <blackbird@SPRING.THEPOND.COM>
To: APO-L@LISTSERV.IUPUI.EDU
In-Reply-To: <Law12-F255RNB6HfMVu00039a57@hotmail.com>
Just to add on to what Rich said, in my Nonprofit Management grad
program's legal issues class, ALL board members of ALL 501C3 have a fiduciary
responsibility to that organization. They can be named separately, but
when the organization is sued, they are sued.
The only true way to protect their personal assets is to make sure that
nothing does go wrong and to get really good insurance. Unfortunately,
ignorance is not a defense, so not knowing about a situation or the
law doesn't make you any less liable in the eyes of the courts.
Being on any nonprofit BOD is not a decision to be taken lightly.
YiLFS,
Katie Thorsen
OI/WPI '01
Northeastern U '02
Boston, MA (area)
