Current Conversation
Conflicts of Interest, Board Investment Policies and the Madoff Ponzi Scheme (posted by Norm Silber)

Marc Perelman makes an interesting observation about the impact of board investment policies on the Forward website, http://www.forward.com/articles/14749/ He notes that Merkin, Madoff's friend, sat on the board of both the United Jewish Appeal and on the board of Yeshiva University-- but that the UJA did not lose money in the scheme through the Ascot Fund, while Yeshiva did. The reason? Apparently a policy guideline of the UJA's board.

"The UJA-Federation said that it did not...
Princeton President Tilghman's statement on the Robertson Fdn. Settlement (Posted by Mark Sidel)

Dear colleagues,

Here's the statement Princeton issued last week on the settlement of the Robertson litigation, for those interested in this long-running legal and family drama.

Warm wishes to all....

Mark Sidel

* * * * * * * *
Dear Princetonian:

Earlier today, the University announced a settlement agreement in the six-year-old lawsuit involving the Robertson Foundation. The announcement is posted on the University's website at www.princeton.edu/rls. Later in this letter I...
Why is the Promotion of Animal Welfare a Charitable Purpose?

(first post, July 16, 2008)

The recently announced, $8 billion bequest from Mrs. Leona Helmsley for the welfare of dogs has prompted a lot of discussion in the philanthropic world, including a provocative New York Times column by Professor Ray Madoff of Boston College Law School.

But one issue that has not received any attention is why animal welfare is a regarded as a charitable purpose at all. In 1918, the tax code was amended to include "prevention of cruelty to children and animals" as a legitimate reason for tax-exemption, but it is not clear why, or whether the...
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