The Valley Rock Foundation in Yountville is being forced to shut down and give away roughly $10 million after a state investigation concluded the nonprofit mishandled charitable assets, according to the California attorney general. Under a legal settlement, the organization, formerly known as the Edward A. Keith Foundation, must dissolve, send its remaining money to community projects and Westmont College, and help fund a new community-use area in Yountville along with repairs or development at several local churches.
Settlement Terms And Allegations
A Jan. 23 press release from the California Department of Justice states that the settlement resolves allegations that foundation directors engaged in self-dealing and unjust enrichment. Under the…..