When the National Heritage Foundation, a donor advised fund sponsor that ultimately lost its 501(c)(3) charitable status, lost a $6 million verdict to one of its donor families, it filed for bankruptcy protection in 2009. Not long thereafter, it filed suit against its insurance carrier, Philadelphia Indemnity Insurance Company, alleging that the carrier had failed to provide a defense and indemnification pursuant to its policy. The Foundation also claimed that the failure was the proximate cause of its bankruptcy. The litigation was resolved when the Foundation and the insurer signed a Compromise, Settlement Agreement, Full and Final Release. The release settled all claims connected with...