Chapter 7 - JAMES'S LETTER
Emily’s father had anticipated trouble.
Not the puppy.
Margaret.
James Carter left a sealed governance letter with foundation counsel.
It was not legally binding by itself.
But it explained his intent.
MARGARET BUILT THE PUBLIC FACE OF THIS FOUNDATION. I BUILT THE ENDOWMENT. BOTH MATTER.
Then:
IF THE FOUNDATION EVER BECOMES A FAMILY STATUS SYMBOL INSTEAD OF A CHARITY, EMILY SHOULD HAVE THE RIGHT TO FORCE AN INDEPENDENT REVIEW.
Emily stared.
She had that right.
Under the bylaws, after James’s death, Emily could trigger a special audit once every five years if supported by two independent directors.
Susan Bell agreed.
Another director, Dr. Mark Feldman, agreed.
Margaret exploded.
“You’re using a puppy tantrum to steal my foundation.”
Emily answered:
May you like
“It isn’t yours.”
That was the first time anyone said it plainly.
