The Lapp Brothers, Light of Hope, Blessings of Hope

[mike]

Theoretically, large donors or investors could make their bailout contingent on a radical restructuring of the organization with full accountability, transfer of assets away from individual or family ownership, and governance by an actual board of directors.

[ken_sylvania]

Theoretically, large donors or investors could make their bailout contingent on a radical restructuring of the organization with full accountability, transfer of assets away from individual or family ownership, and governance by an actual board of directors.

And maybe a revision to the part of the bylaws that requires the organization to pay a tithe to the Lapp Brothers' church?

[JohnH]

And what motivation would the BoD have to do that?

(Maybe AIC will take a break from blatantly promoting them next year. I had an enjoyable conversation with someone there a few years ago who was busy flogging for BoH who went on a rant about the evils of food stamps and how everyone in them doesn’t work.)

[Judas Maccabeus]

And what motivation would the BoD have to do that?

(Maybe AIC will take a break from blatantly promoting them next year. I had an enjoyable conversation with someone there a few years ago who was busy flogging for BoH who went on a rant about the evils of food stamps and how everyone in them doesn’t work.)

Avoiding forced liquidation?

[JohnH]

And what motivation would the BoD have to do that?

(Maybe AIC will take a break from blatantly promoting them next year. I had an enjoyable conversation with someone there a few years ago who was busy flogging for BoH who went on a rant about the evils of food stamps and how everyone in them doesn’t work.)

Avoiding forced liquidation?

A nonprofit can’t be forced into bankruptcy, unlike a for profit business or sole proprietor.

Remedies are limited to creditors suing for individual debts, obtaining judgments, and then enforcing them.

[Judas Maccabeus]

And what motivation would the BoD have to do that?

(Maybe AIC will take a break from blatantly promoting them next year. I had an enjoyable conversation with someone there a few years ago who was busy flogging for BoH who went on a rant about the evils of food stamps and how everyone in them doesn’t work.)

Avoiding forced liquidation?

A nonprofit can’t be forced into bankruptcy, unlike a for profit business or sole proprietor.

Remedies are limited to creditors suing for individual debts, obtaining judgments, and then enforcing them.

They can be forced into liquidation by court order. The state can revoke articles of incorporation for violations of law. Nonprofits are not immune to the law.

[JohnH]

Avoiding forced liquidation?

A nonprofit can’t be forced into bankruptcy, unlike a for profit business or sole proprietor.

Remedies are limited to creditors suing for individual debts, obtaining judgments, and then enforcing them.

They can be forced into liquidation by court order. The state can revoke articles of incorporation for violations of law. Nonprofits are not immune to the law.

I can’t think of any laws being broken, though.

[the-real-steve]

Apparently there are a few million in private loans they took and almost immediately defaulted on. This is so sad. They do a good thing.

[Judas Maccabeus]

A nonprofit can’t be forced into bankruptcy, unlike a for profit business or sole proprietor.

Remedies are limited to creditors suing for individual debts, obtaining judgments, and then enforcing them.

They can be forced into liquidation by court order. The state can revoke articles of incorporation for violations of law. Nonprofits are not immune to the law.

I can’t think of any laws being broken, though.

Fraud might be something to look into. Taking loans without the intention of paying them back.

[ohio jones]

Apparently there are a few million in private loans they took and almost immediately defaulted on. This is so sad. They do a good thing.

Well, some things they do are good. Others apparently not so much.