Error: Sequence contains no elements - occurs when editing organization hierarchy

When attempting to use the arrows to move an item in the organization hierarchy the error "Sequence contains no elements" can occur. 
We're currently evaluating this issue for a fix in a future patch or service pack.

As a workaround you can drip and drag the item to where it is needed in the tree

Steps to Duplicate

1.  Select organization hierarchy from the Administration functional area
2.  Click edit hierarchy 
3.  Select items in the tree and attempt to navigate them up

Environment

 Blackbaud CRM
 4.0

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