IT IS OFFICIAL - The Woodruff Building legally has declared the arts superfluous. On June 24, 2011, Restated Articles of Incorporation, the legal document which controls corporate governance, became effective. The laudable original purpose of WAC for over 100 years (as articulated in 1968) was drastically whittled down to the fostering, promotion and production of “significant artistic expression” in the arts of “music theater” and other unrelated subjects. “Symphony” is not mentioned. And for the coup de grace, “the entire control and management of the affairs of the corporation, and all the powers and authority of the corporation, shall be vested in a Governing Board”. At a meeting of the WAC Board of Trustees on May 11, 2011, 76 members voted in favor of this restatement. Who were they? Where are the minutes of this meeting? How can the existing members of the Board of Trustees not immediately amend this travesty or impeach the Governing Board without violating their fiduciary duties? Was this Restatement ever shown to the ASO Board or was it filed in the dead of night? What was wrong with the historical purpose? - to form a vehicle for achieving high quality artistic attainment for the benefit and erudition of the public and for the nurturing and developing of creative talents and performance of participants in both the visual and performing arts; to receive capital funds required to provide Atlanta and the Southeast with first-rate facilities for a college of the arts and a performing art center; and to provide the management and continuing financial support for maintaining and enhancing the development of Atlanta as a leading art center; and the arts affected shall include music, symphony . . . . . Do the 18 members of the Governing Board have fiduciary duties? Do they have cultural awareness? Do they value their reputations?
Posted on: Mon, 06 Oct 2014 08:28:10 +0000
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