Oh Wise Listers-
Quick board scenario for your review.
A long standing museum has a board of 25. Less than half of those members are active financial contributors, only 3 of which give $5,000 or less annually. There is no suggested or required board contributions. The board understands that growing the endowment is ideal for financial security. The board proposes a solution to the internal lack of contributions - create a sub-organization with its own board that financially contributes to the museum, it's buildings, and other programs run by the main board.
Question: Does anyone have any experience with this type of solution?
Thank you!
Jessica
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