Semantics are crucially important in matters of Law.

Many festivals, as not-for-profit organisations, are Companies Limited by Guarantee.

The Directors are, generally, unpaid and gain no personal finacial advantage if the Festval is a huge success. Equally, they are protected from personal ruin if things go tits up.

If the powers that be determine these Directors have behaved fraudently (in a legal sense, not a moral sense) then they might be held personally liable.

I doubt either of the examples you quote fall into that category.