The following papers were presented by their authors, commented on by discussants, and then further discussed by the attendees:
- Boards, Investment Practices, and Delegation – Garry Jenkins
- When Donors Meet Purpose – Tinu Adediran
- Use of Restricted Assets During Crises – Jill Horwitz
- Release or Modification of Restrictions: The Consequences of Codification – Nancy McLaughlin
- Allocation of Authority: AGs, State Courts, and Private Parties – Lloyd Mayer
The Symposium also featured:
- A keynote address by Ricardo Castro, VP and General Counsel of the Robert Wood Johnson Foundation
- Reflections on the Restatement from the ALI
- A moving remembrance of Marion Fremont-Smith
- Reflections on the Restatement from the Bench (Hon. Carolyn Kuhl)
- Wrap-up (Richard Schmalbeck)
We were reminded that the area of charitable organizations law is still relatively young and that the recently published Restatement is the first in this field. The Restatement and Symposium were identified as a coming-of-age of charitable organizations law.
Judge Kuhl emphasized that the Restatement would be of great importance to judges, who might otherwise need to rely on episodic case citations without the broader context that the Restatement could provide. The attendees further discussed how important the Restatement would be to many charities, their advisors, and their leaders, who may not be sufficiently informed of the applicable charities laws that originate in several other bodies of law, including, but not limited to, corporate law, trust law, and tax law.
I will certainly be writing more about the Restatement in future posts. However, particularly for lawyers who represent charities on a very limited basis, I highly recommend that you get access to a copy (see, e.g., Thomson Reuters). Thanks to Professor Horwitz and all those who worked on the Restatement! And congratulations to Rose Chan Loui, who we learned was named the inaugural Director of the Program on Philanthropy and Nonprofits at the Lowell Milken Institute for Business Law and Policy at UCLA School of Law!
Photo credit: wolterke – stock.adobe.com