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Tuesday, May 03, 2011
Federal Employees To Sit On Non Profit Boards?
Federal Employees may soon be allowed to sit on non-profit boards. The U.S. government's ethics office proposes an exemption to current conflict-of-interest laws. The Wall Street Journal reports, it would allow feds to sit on the boards of non-profit organizations in their official capacity. The Justice Department's Office of Legal Counsel, ruled 15 years ago that such appointments violated the law.
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Many people don't understand what a "Non Profit" is. In the simplest terms, it means that the Non Profit entity has no money left over at the end of their fiscal year. They basically must spend it all on operations which include salaries, company cars, business meetings in nice places, memberships in clubs, etc. The Non Profit can be a Billion dollar a year enterprise as long as they burn up all the money that comes in.
No, I don't agree with letting Federal Employees to sit on their boards.
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