Concentrates on the historical, statutory, judicial, and administrative aspects of philanthropic foundations. It begins with a general survey of the rise of foundations, particularly as a legal concept, and examines existing provisions for state registration and supervision, with special atention to the role of the attorney general. There are field reports on ten states with programs aimed at following charitable activities closely. The concluding chapter provides appraisals and recommendations, and appendices include state legal requirements for charitable trusts and corporations, selected state acts, rules, reporting forms, and a list of cases.
The nonprofit sector is a vital component of our society and is allowed the greatest freedom to operate. The public understandably assumes that since nonprofit organizations are established to do good, the people who run nonprofits are altruistic, and the laws governing nonprofits have reflected this assumption. But as Marion Fremont-Smith argues, the rules that govern how nonprofits operate are inadequate, and the regulatory mechanisms designed to enforce the rules need improvement. Despite repeated instances of negligent management, self-interest at the expense of the charity, and outright fraud, nonprofits continue to receive minimal government regulation. In this time of increased demand for corporate accountability, the need to strengthen regulation of nonprofits is obvious. Fremont-Smith addresses this need from a historical, legal, and organizational perspective. She combines summaries and analysis of the substantive legal rules governing the behavior of charitable officers, directors, and trustees with descriptions of the federal and state regulatory schemes designed to enforce these rules. Her unique and exhaustive historical survey of the law of nonprofit organizations provides a foundation for her analysis of the effectiveness of current law and proposals for its improvement.
Attempts to study corporation philanthropy inevitably prove frustrating, for it is a subject surrounded by rhetoric and almost entirely devoid of hard facts. Marion R. Fremont-Smith's concise appraisal of corporation philanthropy takes a close look at the donative policies of corporations and their methods of giving. Concentrating on the legal and historical setting, as well as corporation philanthropy in practice, the author analyzes recent expansion in the field of traditional philanthropy and the accompanying shift in public attitude toward the responsibility of business corporations. The book shows how this new attitude has brought with it a reappraisal of the philosophical and legal bases for corporate action in the social sphere. In conclusion, Mrs. Fremont-Smith calls for a more imaginative and independent definition of the objectives of corporate philanthropic policies and not merely a continuing series of ill-considered defensive reactions.
Concentrates on the historical, statutory, judicial, and administrative aspects of philanthropic foundations. It begins with a general survey of the rise of foundations, particularly as a legal concept, and examines existing provisions for state registration and supervision, with special atention to the role of the attorney general. There are field reports on ten states with programs aimed at following charitable activities closely. The concluding chapter provides appraisals and recommendations, and appendices include state legal requirements for charitable trusts and corporations, selected state acts, rules, reporting forms, and a list of cases.
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