You are the executive director a food bank in your local area. As a charitable organization, you are not required to pay taxes. As such, you have all of the following fiduciary duties EXCEPT
A) to act in good faith and in a manner that you reasonably believe is in the best interest of the organization
B) to avoid untoward risk or potential harm to the interests of the principal
C) to ensure the organization conforms to the purposes that allow the organization its tax-exempt status from the IRS
D) to act in ways that demonstrate loyalty to the organization over individual interests

Question

Quizplus · Accepted Answer

For executives and board members of exempt organizations, there are three fiduciary duties: the duty of loyalty, which requires the fiduciary to act in good faith and in a manner that they reasonably believe is in the best interest of the organization, the duty of care, which requires the fiduciary to avoid untoward risk, and the duty of obedience, which requires the fiduciary to ensure the organization conforms to the purposes that allow the organization its tax-exempt status from the IRS.

You Are the Executive Director a Food Bank in Your