The U.S. Senate Finance Committee investigated The Nature Conservancy for assisting trustees and insude managers to profit from land deals brokered by the nation's largest non-profit real estate organization. During the Senate investigation The Nature Conservancy's president admitted receiving a $1.5 million dollar mortgage at a minimal interest rate. Although this violation and other admissions clearly violated laws regarding non-profit organizations, The Nature Conservancy was allowed to continue operating with its non-profit status.
See a discussion of the investigation in this law firm's newsletter: http://www.gg-law.com/CM/Publications/August%202003.pdf
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