July 6, 2007

Insider Deals Are Common Among Nonprofit Boards, Study Finds

By PETER PANEPENTO and PAUL FAIN

Almost half of large nonprofit groups make insider deals with board members, and one-third of those deals occur without the prior approval of other board members, according to a new study by the Urban Institute.

The study, described in a report released last week, "Nonprofit Governance in the United States: Findings on Performance and Accountability From the First National Representative Study," also found that many groups fail to attract ethnically diverse leaders. Half the boards

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