AND BARUCH FOCUS
ON NONPROFIT BOARDS
AT WELL ATTENDED NONPROFIT
BARUCH COLLEGE, NEW YORK, NY – On February 19, Baruch
College’s respected Center for Financial Integrity (CFI)
and its ten-year-old School of Public Affairs co-sponsored
a conference entitled “New Pressures on Nonprofit Boards:
An Action Plan.”
New York State Attorney General Eliot Spitzer, as the day’s keynote speaker, addressed the more than 150 nonprofit executives and board members and focussed on how recent problems revealed in the governance of boards of for-profit companies provide lessons for nonprofit boards – which, he pointed out, carry even greater burdens of responsibility than for profit boards, have fewer checks and balances, and often have less time to serve during the year, less depth of training and skills related to the specific operation of the nonprofit they serve, yet are under greater public obligation and potential scrutiny.
Baruch President Ned Regan, who served for fourteen years as New York State Comptroller and who is an expert on corporate governance issues, introduced Spitzer and delivered opening remarks. He said, “This is a very timely conference. Nonprofits make up 12 percent of the city’s economy, and they employ more than a half million people in the five boroughs -- more people than work in finance, insurance, and real estate combined. The nonprofits face special and complex governance issues and this is a valuable day of information and expertise from some of the highest ranking people in the nonprofit world as well as the legal and auditing experts who work closely with them.”
The day also featured a luncheon address by Morris Offitt, head of the UJA of New York, and panel discussions such as “Responsibilities and Risks of Nonprofit Boards,” “Internal Controls for Nonprofits”, “Audits, Standards, and Integrity in Nonprofit Organizations,” and a special closing section on how Baruch, with its governance expertise and its longtime public administration program in nonprofit management, can provide ongoing assistance to nonprofit boards and board members.
Vince Passaro, Director of Public Relations