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No good deed goes unpunished ….. see who will contribute to them in the future
DID YOU EVEN READ THE ARTICLE? THE GUY COVERED UP A MASSIVE SCHEME AS A BANK PRESIDENT SQUANDERING $22M TO TRY TO HIDE IT. HE ENTERED A CONTRACT WITH THE SCHOOL WHY SHOULD HE NOT HONOR IT?
How is this insurance-related?
He also owned an insurance company and an insurance agency. You don’t get banned from the financial services industry for no reason.
The other issues can muddy the real issue here: Can and should organizations and non-profits sue those who pledge donations? I think, perhaps if the recipient received a clearly worded disclosure that says a pledge to them is a contractual obligation and they intend to collect each and every donation.
If NPR sued everyone who pledged any amount, collections organizations would be really busy for a short while until all donation pledges dried up.
Can’t get blood from a stone… More importantly, where did the fidiciary responsibility of the Institute Board and paid leadership go to evaluate if a pledge was solid enough to commence building? Me thinks the wrong folks are being sued.
Idea Sue the Board under their D&O for making a fiduciary snafoo of going ahead with spending money that was a “pledge” rather than a guarantee. A successful D&O suit then could pay for the building. The defense we were stupid is used all the time for thise losing such suits.
It just goes to show its all about the money anymore. So much greed and corruption out there. And heartless people. Like the old saying becareful of what you do to others. It may come back upon your head one day.
Also You cant get blood out of a turnip. Its a shame instead of being sympathetic to someone who has lost what they used to have and cant afford to help them, now you take them to court. I personally would never go to a museum that treated people this way.