This is news to me:
“Without board approval, commissioned and installed a life-size mural depicting himself and now hung inside the Koret Foundation’s new headquarters in San Francisco at a cost to the Foundation of $80,000.”
I’ll tell you, this one allegation should prolly make you never even consider starting up any kind of foundation.
And what’s the response – a general denial about how all the charges are “bogus” and an ad hominem attack against the widow of Koret?
Spokesmodel Nate Ballard could try to explain the painting / mural – like he could say how it didn’t cost $80k or how it was authorized, but he chooses not to.
Hey is it “erratic” to want to invite non-poor non-Jewish Willie Brown in to the Koret Foundation? Probably. But there’s a lot of erraticism going on on these charitable boards – that’s no reason for a dismissal.
All right, have at it Koret Foundation. Let’s hope the fund will be in better shape and be used for better purposes after all this gets hashed out.
All the deets;
“Lawsuit Filed by Widow of Koret Foundation Founder Demands New Independent Board to Save Half-Billion Dollar Foundation from Spending Down Assets
SAN FRANCISCO, Oct. 8, 2014 /PRNewswire/ — The widow of Koret Foundation founder Joseph Koret has filed suit against Koret Foundation Board President Tad Taube, accusing him and the Foundation’s Board of Directors of conflicts of interest in funding pet projects that include conservative causes in the United States and charities in his native country of Poland.
The suit filed October 7, 2014 in San Francisco Superior Court by Mrs. Koret alleges that under Taube’s direction the board has ignored the priorities established by her late husband to help the poor and assist Jewish causes in the Bay Area and Israel.
Instead, her suit claims, the Koret board is using foundation funds to promote programs closely affiliated with individual board members and is purposely confusing the public by putting signage that prominently features Taube’s name alongside the Koret Foundation name on buildings and grants for which the Koret Foundation is the principal funder.
“Defendants’ duty of loyalty to the Foundation has been corrupted by these directors’ close affiliations with many of the Foundation’s recent grants, resulting in tens of millions of dollars distributed due to self-interest,” according to the lawsuit.