Endowments & Investing
Whether called impact investing, mission investing, program-related investing, or sustainable and responsible investing, foundations increasingly seek to leverage financial markets for social gains. These resources help your foundation explore the emerging strategies and diverse options available.
Reporting and Classification of Assets Under UPMIFA
Legal Compliance Guidance
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…
Legal and Accounting Challenges of Underwater Endowment Funds
Legal Compliance Guidance
By Susan E. Budak and Susan N. Gary
The widespread adoption of the Uniform Prudent Management of Institutional Funds Act (UPMIFA) across the country has already been of great help to charities, in part because the financial markets collapsed just months after the uniform act was approved. Most, if…
Investment Management Practice Tips and Resources
Legal Compliance Guidance
Practice 1. The board (and investment committee and staff, if any) of a foundation should understand and fulfill their respective fiduciary responsibilities and duties under applicable law and the governing documents of the foundation and stay informed regarding any relevant changes in law, duties…
Working with a Donor's Investment Manager
Legal Compliance Guidance
“If I create a fund at the community foundation, can my investment manager still manage the funds?” You may have already come across a donor that asked this question. Such a donor is essentially requesting that the fund they create be invested outside of the foundation’s investment pool(s). While…