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massnonprofit.org ::: "Charities Should Scrutinize Severance Packages

The AG added, “We hope that board members at all charities will closely scrutinize these severance packages and work to put the protection of charitable assets above all other factors. These terms are highly costly, reduce the board’s ability to act independently, and in most cases do not advance a legitimate charitable purpose.”

The report said that reporting requirements for charitable organizations did not fully encompass all aspects of executive compensation. As a result, the attorney general’s office will now require all senior executive employment agreements to be disclosed as part of charitable annual reports filed with the AG’s office and an explanation for the protection afforded."