Wall Street Dominates Nonprofit Boards of Directors

"Wall Street" by Wagner T. Cassimiro "Aranha" licensed under CC BY 2.0
Wall Street” by Wagner T. Cassimiro “Aranha” licensed under CC BY 2.0

Source: MintPress News

A new report from the Stanford Social Innovation Review (SSIR) has revealed that the number of Wall Street employees on nonprofit boards of directors has grown significantly in the past decade and a half, reports MintPress News.

Using data from major private research universities, elite small liberal arts colleges, and prominent New York City cultural and health institutions, the SSIR found that the percentage of people from finance on the boards of these three types of nonprofits doubled between 1989 and 2014.

The apparent favor that nonprofits have for Wall Street originates at least partially from the drive to “follow the money,” asserts the report. However, this drive to follow the money has also led to Wall Street’s increased control over some of these nonprofits, sometimes conflicting with the “preexisting cultures within those organizations.”

Read full story at: MintPress News

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