The New Age of Corporate Governance for Non-Profit Organizations

By Avi Z. Kestenbaum

With the abundance of corporate governance scandals and abuses in recent years, and the remedial measures and penalties imposed by the legislature and judiciary at both the federal and state levels to address them, both the for-profit and non-profit sectors are experiencing a new age of corporate governance.  Most people are aware of Sarbanes-Oxley, as well as the numerous court cases involving fraud and wrong doing in once prominent corporations (e.g., Enron, Tyco, Wordlcom, Adlephi Communication), which have raised the bar of corporate governance requirements in the for-profit world.

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