USA: A ‘New Era’ of Preying on the Faithful?

Abstract

In May 1995, shock waves hit the world of US institutional charities, wealthy benefactors and educational organisations. The cause of these tremors was the collapse of the Foundation for New Era Philanthropy and its subsequent filing for protection of the United States Bankruptcy Court wherein it listed more than $551m in liabilities and only $80m in assets. Charities owed money by New Era included hospitals, churches, academic institutions and all manner of cultural, civic and religious organisations.

Citation

Rutledge, G.P. (1996), "USA: A ‘New Era’ of Preying on the Faithful?", Journal of Financial Crime, Vol. 3 No. 4, pp. 405-407. https://doi.org/10.1108/eb025747