In 2001, the longtime executive director of a leading Southwestern community-development corporation resigned. He had been a dynamic leader, with a network of relationships that generated steady funding for what appeared to be a healthy organization. Shortly after his departure, however, the board of directors realized that the corporation’s infrastructure was shaky and its finances were worse. The board was forced to slash the staff and cut operations by two-thirds – a shocking turn…

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Read more stories by Tom Adams.