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Assets Held by Charitable Organizations Are Safe From Claims of Creditors in Bankruptcy Cases . . . Or Are They?

“Property of the Estate” is a very broad and sometimes vague term, which can often lead to disputes over held assets in a bankruptcy case. This ambiguity can be further complicated with large estates or the bankruptcy of charity or non-profit organizations. While many believe that assets like donations or pension funds are protected from creditors in the event of liquidation, some recent cases have shown that this is not always the case. The following article by authors Ileana M. Hernandez, Ivan L. Kallick and Jill S. Dodd examines how charitable organization assets like donations may be treated in a bankruptcy case.

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Honoring Our Soldiers

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Debra Matassino was joined by Pat Chambers Daly of the Dominican Sisters of Amityville and her two daughters, Clare and Elizabeth, at the last Islanders home game of the season to honor Wounded Warrior LT.COL.Sandy Krigel. Debra spoke with Sandy and he said, “What a great thing to have the Wounded Warrior Project. They are needed…

New Ground Honoring Christopher Waldorf

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New Ground honors Mr. Christopher V. Waldorf, during their 13th Annual Groundbreaker’s Celebration, for his years of support.   Groundbreaker’s Celebration New Ground is a non-for-profit agency in Hempstead that educates and empowers families as well as individuals who are caught in the vicious cycle of homelessness. The organization held its 13th annual Groundbreakers’ Celebration…