Charitable organizations have been struggling in today’s difficult economic climate. Recently, a director on the board of a not-for-profit organization told us that not only had his endowment funds declined by more than 50 percent, but that funding for the charity’s various projects had also precipitously declined. He then posed the question as to whether the organization’s endowment fund could be invaded, should the need arise.
At a time of increasing need, the resources available to charitable organizations are decreasing. This article discusses some of the legal requirements and various considerations that governing boards must take into account in analyzing their legal responsibilities with respect to endowment funds.
Endowment Funds
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
