I went to the state capital in January for the final settlement hearing, which was a formality, and which I had been asked to attend, and which I almost didn't.
The charitable trust division of the attorney general's office had negotiated a consent agreement with the foundation. Under the agreement, the foundation would dissolve the holding companies, return the escrowed gala funds to its restricted grant-making accounts, amend three years of filings, submit to a five-year compliance monitor, and make a voluntary payment of two hundred thousand dollars. Corinne Grant would resign from the board and from all foundation committees. Ellis Grant would remain as board chair but would not hold a financial position, and the foundation would have an independent finance committee going forward. No
