We have previously written about prudent investment rules that apply to charities with respect to their institutional funds (including endowment funds) under the Uniform Prudent Management of Institutional Funds Act (UPMIFA), including here. One of the important factors in selecting and managing investments is the amount that is intended to be expended and the frequency […]
endowment
UPMIFA: One Year Later
On January 14, 2009, Jill S. Dodd of Manatt, Phelps & Phillips, LLP and Bert W. Feuss of the Silicon Valley Community Foundation presented "UPMIFA: One Year Later" for the Northern California Planned Giving Council. UPMIFA is the acronym for the Uniform Prudent Management of Institutional Funds Act, which California adopted effective January 1, 2009, […]