Accumulating millions in endowment returns is not unethical if they are being
reserved for legitimate reasons. If an accountant notices that a client has a
going concern problem, he or she is obligated to request the client’s capitalization
and financing plans for the long term—awkward as this may be. And, while
not strictly illegal, there is indeed a conflict of interest when the board of a membership
organization also serves as the board of the organization’s daughter nonprofit.