EFO has apparent authority to bind nonprofit clinic
The Executive Finance Officer of a 501(c)(3) nonprofit health clinic has apparent authority to bind the clinic to the terms of a “Revenue Purchase Agreement” with a business funding group that paid the clinic for accounts receivable to be collected in the future. A federal District Court in Philadelphia has denied the clinic’s request for a preliminary injunction to prevent the business funding group from executing on its agreement with the clinic. The Mazzoni Center is a federally qualified health center “look-alike” that has served the LGBTQIA+ community in the Philadelphia region for more than 40 years. Early in 2024, it was running a payroll of about $400,000 every other week and having...
The full text of this article is available to paid subscribers only. Login or subscribe to read more