Spending limits – Initiatives zero in on endowment management
Abstract: That mouthful of words — the Uniform Prudent Management of Institutional Funds Act (also known as UPMIFA) — is likely in your vocabulary by now. As of year end, one-half of U.S. states had enacted UPMIFA and the legislation had been introduced in several more states. UPMIFA updates and standardizes investment and expenditure policies for nonprofits. Learn, in a nutshell, how the law requires organizations to prudently manage investments and control expenditures.