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How a Loan Deal Backfired on One Nonprofit Leader
By Harvy Lipman and Grant Williams
Ronnie Webb has a message for nonprofit groups thinking about making loans to one of their officials:
Don't.
Mr. Webb speaks from experience.
In June 2000 the board of Kids Incorporated, the Crossville, Tenn., charity of which he is executive director, voted to lend him $140,000, which he planned to use to...