Reporting and Classification of Assets Under UPMIFA

This memorandum considers whether adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) requires changes to existing guidance regarding the reporting and classification of assets held by community foundations. Current guidance is incorporated in a 1997 memorandum, Report on Classification of Net Assets by Community Foundations, prepared jointly by the Legal Advisory Subcommittee of the Committee on Community Foundations and a committee of the Community Foundations Fiscal and Administrative Officers Group (FAOG).

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Reporting and Classification of Assets Under UPMIFA
This memorandum considers whether adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) requires changes to existing guidance regarding the reporting and classification of assets held by community foundations. Current guidance is incorporated in a 1997 memorandum, Report on Classification of Net Assets by Community Foundations, prepared jointly by the Legal Advisory Subcommittee of the Committee on Community Foundations and a committee of the Community Foundations Fiscal and Administrative Officers Group (FAOG).

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