Acceptance of a Restricted Bequest: Ethical Considerations

Acceptance of a Restricted Bequest: Ethical Considerations

Ellen Lippman,Teri Grimmer Journal of Critical Incidents
January 01, 2017
SKU: BUS-620

Region of the world: North America
Topic: Strategy & General Management, Ethics & Social Justice
Keywords: nonprofit, bequest, restricted donation, ethics
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Donald and Mildred Othmer were long-time supporters of Long Island College Hospital. Their wills directed that approximately one-fifth of their $730 million estate was to be given to the hospital; the principal was to remain restricted with only the interest available for general use. However, by the time of the Othmers’ deaths, the ability of the hospital to maintain that restriction was significantly in doubt. Should the board accept the bequest?

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