Nature Conservancy Benefits Its Benefactors

In the last of its investigative series the Washington Post reports on how a multi-billion dollar environmental charity takes care of its own. For example, "on New York's Shelter Island, the Nature Conservancy three years ago bought an undeveloped, 10-acre tract overlooking its Mashomack Preserve ... just a stone's skip from the exclusive Hamptons. Cost to the charity: $2.1 million. Seven weeks later, it resold the land, with some development restrictions, to James Dougherty, former chairman of the charity's regional chapter, and his wife, Nancy, a trustee at the Conservancy's preserve. Cost to the Doughertys: $500,000. ... Time and again, the nonprofit has bought raw land and resold it at a loss to a trustee or supporter."