November 1, 2001
Unusual Arizona Group Shuts Down, Cutting Off Annuity Payments to Donors
An unorthodox Arizona charity that paid financial planners a commission to market its gift annuities has shut down, cutting off payments to an unknown number of donors who entrusted the organization with their money.
The closure of the Mid-America Foundation, in Scottsdale, Ariz., was disclosed in a terse, two-sentence letter to donors by Robert R. Dillie, the charity's executive director. Mr. Dillie, a former insurance agent who in the past had insurance licenses denied or revoked in
This content is only for subscribers. You can gain access by purchasing a:
Print Subscription
Digital Subscription
Already have an account? Log In Now.
Get more great stories about the nonprofit world delivered to your inbox every weekday. 
