Today the United Way of Central Carolina (Charlotte) released a report on its internal investigation into how its former CEO, Gloria Pace King, managed to engineer a pension package so outrageously generous that she was fired when the details of the pension became public. Yes, even though the UW Board's executive committee had signed off on the plan, when it became public they threw Ms. King under the bus.
Now, with this new report, they've thrown her under the bus again. According to the report, published today in the Charlotte Observer, Ms. King manipulated details of her proposed pension payout to triple its value. Basically, what the UW Board is saying is "she fooled us."
Right. Under the bus again, Ms. King.
Meanwhile, the United Way of America is conducting a survey of all local United Ways to make sure the King pension story in an anomaly. The UWA will no doubt conclude that the remuneration and retirement plans at other United Ways are reasonable and customary. Guess how many nonprofit professionals outside of the United Way would agree with that assessment.
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