High-profile New Schools’ board, officers unprotected after insurance policy goes unpaid

After the nonprofit NC New Schools suddenly collapsed in April, its high-profile board of directors learned that the unpleasant news went beyond a bankruptcy filing.

The board’s insurance policy had lapsed, leaving the directors unprotected against lawsuits or legal claims.

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The organization’s top officers were also left unprotected.

NC New Schools made North Carolina the nation’s leader in early colleges, which provide college-level classes for high school students. The organization won $11 million in grants from Bill and Melinda Gates, more than $35 million in federal grants and more from North Carolina’s biggest businesses.

Read more here: http://democratsforever.freeforums.net/thread/10026/profile-schools-board-officers-unprotected