The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.
A Conference Jointly Sponsored by the Federal Reserve Bank of New York, the Bendheim Center for Finance of Princeton University, and the Journal of Accounting and Economics.
Introduction Few public policy issues have taken center stage as quickly as governance. In the not-for-profit sector, investor-donors, regulators, tax authorities, and academics are examining the decision-making processes of organizations, and, in some cases, are proposing changes to governance structures to enhance efficiency and accountability.
Despite this recent attention, the effect of governance on the performance and overall health of firms in the not-for-profit sector has received less academic scrutiny than it has in the for-profit sector. Given the growing role of not-for-profits in the U.S. economy, a better understanding of sound governance practices in the sector is essential to all stakeholders. Moreover, to evaluate the effect of reforms on the governance of not-for-profit firms, it is also important to understand current governance practices as well as how governance differs between for-profit and not-for-profit firms.
This conference aims to broaden the understanding of these and other key governance issues by presenting a wide range of distinguished, current research on the governance of not-for-profit organizations.
More Information There is no registration fee for attending the conference. However, because seating is limited, you must register in order to attend.
Thursday, September 30
Welcoming Remarks: Christine M. Cumming, First Vice President, Federal Reserve Bank of New York
MANAGEMENT OF FUNDS AND REGULATORY ISSUES IN NOT-FOR-PROFITS
Session Chair: Henry Hansmann, Law School, Yale University
Investment Management of Charitable Funds
Harvey Dale, Law School, New York University
Nonprofits under the Microscope: Current Regulatory Challenges and Practical Responses
James Schwartz, Manatt, Phelps & Phillips, LLP
THE ROLE OF INCENTIVES AND OWNERSHIP IN NOT-FOR-PROFITS
Session Chair: Michael Nelson, Federal Reserve Bank of New York
Are the Incentives Right?
Richard Steinberg, Department of Economics, Indiana University-Purdue University Indianapolis
What Difference Does Sector Make? An Agenda for Research on Ownership Effects
Joseph Galaskiewicz, Department of Sociology, University of Arizona
Lunch Speaker: Marion Fremont-Smith, Kennedy School of Government, Harvard University
INCENTIVES AND GOVERNANCE IN NOT-FOR-PROFITS
Session Chair: Patrick Bolton, Department of Economics, Princeton University
Paul Gertler, Haas School of Business, University of California at Berkeley Jennifer Kuan, Institute for Policy Research, Stanford University Discussant: R. Lawrence Van Horn, Simon Graduate School of Business Administration, University of Rochester