Commentary: Keeping Your Balance: New Law's Impact On Charitable Giving
Daily Record (Rochester, NY) › December 16, 2010
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Summary
In 2006 the National Conference of Commissioners on Uniform State Laws approved the Uniform Prudent Management of Institutional Funds Act, an update to the Uniform Management of Institutional Funds Act relating to the treatment of endowment funds.
As of Sept. 17, New York adopted UPMIFA, commonly referred to as NYPMIFA. This act provides statutory guidelines for management, investment, and expenditure of funds held by charitable institutions, including endowment and other donor-restricted funds.See the full content of this document
Extract
Commentary: Keeping Your Balance: New Law's Impact On Charitable Giving
Below are a few key impacts to charitable institutions with endowments from the adoption of this law:
Such institutions are required to adopt a written investment policy in accordance w...See the full content of this document
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