William Morris Foundation

New York, NY: (May-15-07) The New York Attorney General Andrew Cuomo's office filed claims against the William Morris Foundation, alleging that its officers and directors paid themselves excessive compensation. The suit claimed that Bruce August and the late Edward Antonelli, two officers of the 50-year-old private grant-making organization, overpaid themselves for managing its investment portfolio. The AG's office also charged Wilmot Wheeler with receiving excessive compensation for serving as a foundation director. Each of the men also received excessive benefits from the foundation. The Delaware charitable foundation will pay nearly $2 million to settle allegations. The $1.9 million will be returned to the charity for future grants. [NBC3: WILLIAM MORRIS FOUNDATION]

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Published on May-16-07