What it takes to manage an endowment

Description

Abstract: Every nonprofit dreams of receiving a large endowment that will keep it financially worry-free in the future and allow it to fulfill its mission with ease. But, in the real world, endowments also carry serious responsibilities, created by the Uniform Prudent Management of Institutional Funds Act (UPMIFA). This article describes the realities of managing an endowment that nonprofit leaders must keep in mind.