The trust will be "overseen by the family and their closest advisors," which means that from a governance perspective, spending is controlled by roughly the same people, with some additional...
The trust will be "overseen by the family and their closest advisors," which means that from a governance perspective, spending is controlled by roughly the same people, with some additional restrictions. The risk is that many boards of non-profit organizations are have low engagement and are accountable to nobody, so if the board checks out and the organization ever drifts away from good governance, there's no formal way to fix it.
Still, that's just a generic problem to worry about for most non-profits. It's no worse than before (with the family controlling the money directly), and we can hope that the organization spends the money wisely.
I love this. Here's a non-paywalled version:
https://archive.ph/OyzyZ
The trust will be "overseen by the family and their closest advisors," which means that from a governance perspective, spending is controlled by roughly the same people, with some additional restrictions. The risk is that many boards of non-profit organizations are have low engagement and are accountable to nobody, so if the board checks out and the organization ever drifts away from good governance, there's no formal way to fix it.
Still, that's just a generic problem to worry about for most non-profits. It's no worse than before (with the family controlling the money directly), and we can hope that the organization spends the money wisely.
This is a step in the right direction and from people I feel inspired by.