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Full-Text Articles in Law
Non-Profit Organizations Should Prioritize Governance In Board Selection Decisions—Those That Prioritize Money May Pay Too Much, Heidi Grunwald, Daniel Isaacs
Non-Profit Organizations Should Prioritize Governance In Board Selection Decisions—Those That Prioritize Money May Pay Too Much, Heidi Grunwald, Daniel Isaacs
Fordham Journal of Corporate & Financial Law
Non-profit corporations must comply with federal tax laws, and their governing bodies must satisfy corporation law-based duties, but they are not subject to the regulatory requirements of publicly traded corporations. This discrepancy should be troubling, because the stakeholders of non-profit organizations are far more vulnerable than the typical investor. Accordingly, non-profit boards have a particularly strong need for good governance. However, our research shows that non-profit board members believe that board selection procedures prioritize giving over the ability to attract and retain members with attributes commonly associated with good governance. To address this problem, we argue that laws should require …
Lessons From General Growth Properties: The Future Of The Special Purpose Entity, Samantha J. Rothman
Lessons From General Growth Properties: The Future Of The Special Purpose Entity, Samantha J. Rothman
Fordham Journal of Corporate & Financial Law
With the crash of the financial market, the effectiveness of “bankruptcy remote” provisions has been tested and examined. In the recent case of In re General Growth Properties, the court allowed a bankruptcy remote special purpose entity to voluntarily file for relief under Chapter 11 of the Bankruptcy Code along with its related corporate entities, despite the fact that bankruptcy remote provisions are designed to avoid precisely this result. This Note analyzes the General Growth decision and explores its potential future implications for the special purpose entity as a securitization tool. While General Growth casts doubt on the viability of …
Answering To A Higher Authority: Sovereign-Mandated Oversight In The Board Room And The C-Suite, Thomas F. O’Neil Iii, T. Brendan Kennedy
Answering To A Higher Authority: Sovereign-Mandated Oversight In The Board Room And The C-Suite, Thomas F. O’Neil Iii, T. Brendan Kennedy
Fordham Journal of Corporate & Financial Law
The relationship between business organizations and the sovereign agencies that regulate them is being redefined domestically and abroad. In the context of corporate enforcement proceedings, a critical challenge is how to achieve, most effectively, the timehonored public sector objectives of punishment, deterrence, financial restitution and rehabilitation. At issue are important policy considerations and at stake are the integrity and security of the commercial marketplace. The public sector increasingly must balance the pressures of limited resources against the need to ensure that corporate citizens behave not only lawfully, but ethically and responsibly. One solution that has been adopted is the imposition …
Reforming Nonprofit Exemption Requirements, Peter Molk
Reforming Nonprofit Exemption Requirements, Peter Molk
Fordham Journal of Corporate & Financial Law
This Article proposes a reform for nonprofit exemption and unrelated business income tax. Current tax law provides unclear guidance and requires exempt organizations to risk their entire exemptions on this guidance, leading them to make the socially inefficient choice to use for-profit subsidiaries to preserve their exemptions. Reforming the tax law will solve this inefficiency while providing exempt nonprofits with the desirable option to undertake efficient nonexempt activities to augment their operating budgets. This reform is particularly timely in light of changes to the healthcare field; reform will enable exempt healthcare organizations to offset rising health costs and decreased reimbursements …
Hybrid Entities: Distributing Profits With A Purpose, Heather Sertial
Hybrid Entities: Distributing Profits With A Purpose, Heather Sertial
Fordham Journal of Corporate & Financial Law
This Note elaborates on the introduction of a new legal structure for organizations known as the “hybrid entity.” A hybrid encompasses aspects of both the for-profit model, to generate revenue; as well as the nonprofit model, to distribute funds to a community in need. The objective of this Note is to offer a structural guide to entrepreneurs who are interested in this new model. This Note first examines the limitations of for-profits that would like to contribute to social goals, as well as the limitations of nonprofits that wish to increase their revenues. This Note then discusses two current statutory …
Problem-Solving Negotiation: Northern Ireland's Experience With The Women's Coalition Symposium, Jacqueline Nolan-Haley, Bronagh Hinds
Problem-Solving Negotiation: Northern Ireland's Experience With The Women's Coalition Symposium, Jacqueline Nolan-Haley, Bronagh Hinds
Faculty Scholarship
This paper is part of a Symposium that considered the relevance of domestic conflict resolution theories in broader cultural contexts. The Northern Ireland Women's Coalition (Women's Coalition) participated in the negotiations leading up to the 1998 Good Friday/Belfast Agreement. Members of the Woman's Coalition responded to thirty years of sectarian violence with a negotiation process based on accommodation, inclusion, and relationship building, concepts that resonate with American-style problem-solving negotiation. Using the Women's Coalition as a case study, this Article suggests that there are procedural aspects of problem-solving negotiation theory that may work across domains, specifically in multi-party, intractable conflict situations, …