February 21, 2010
National Heritage Foundation Debacle Offers Lessons About Donor-Advised Funds
The implosion of the National Heritage Foundation—at its peak, a more-than $200-million organization—provides a cautionary tale for donors, especially the growing number who create so-called donor-advised funds.
In January the National Heritage Foundation, in Virginia, filed for bankruptcy following a court decision that ordered it to pay millions of dollars to donors who said they had been misled by the organization.
In the latest twist in the saga, the
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