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 […]
UPMIFA
Prudent Investments: UPMIFA and Climate Change
Charitable nonprofits organizations (“charities”) are subject to state prudent investment laws as we have previously written about here. The most important of these laws is the Uniform Prudent Management of Institutional Funds Act (UPMIFA) applicable in 49 states (all except Pennsylvania) and DC. UPMIFA and Management and Investment Factors UPMIFA describes eight factors that must […]
Charities: Prudent Investment Laws
Charitable nonprofits organizations must comply with state prudent investment laws that apply to their investment assets. In California, as is the case in 49 of the 50 states, the Uniform Prudent Management of Institutional Funds Act (UPMIFA) sets the rules. Note that there may be some (mostly minor) variation among state laws, but we’ll specifically […]
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, […]