Restricted Funds

Do you think that a not-for-profit organization’s board can release the restrictions on money in a strike fund and use it for general operations?
Does it matter whether we are talking about a strike fund held by a steel workers’ union to pay benefits to its members during a strike, versus a fund used by a not-for-profit as a safety reserve in case its workers go on strike?
Please help with a detailed enough response, not looking for an essay like answer, just need a general answer the answers my question fully enough. Please help someone.
Anonymous User
Anonymous User
Asked Jan 09, 2012
The purpose of the fund and it's usage of the money should be stated in the strike fund section of the union's bylaws. The bylaws are different for each union and some unions have different bylaws for each local. The answer will depend on the bylaws of the specific union you're concerned about. Look at the organizational documents.
Rob
Answered Jan 09, 2012

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