The Real Cost of Bank Trustees (Summer 2015)

Unbeknownst to much of the nonprofit sector, four of the largest corporate banks in the country have trustees on several prominent charitable foundations. A number of court cases have taken banks to task for improperly using their roles as trustees to further their own self-interests toward maximizing their power and profits instead of the philanthropic priorities of the organizations they are paid to serve. In so doing, money that could have been going to the charities is instead lining the pockets of these banks. by Rick Cohen