Tax-Exempt Organizations Subcommittee Meeting: Uniform Prudent Management of Institutional Funds Act and Jeopardizing Investments
The program will provide an interactive overview of the Uniform Prudent Management of Institutional Funds Act, and its governance over charitable endowment funds. The discussion will include the requirement that managers of funds comply with the duty of loyalty and invest and manage the funds in good faith and under an “ordinary prudent person under like circumstances” standard. The discussion will also focus on IRC Section 4944- jeopardizing investments applicable to private foundations and the exception for program-related investments.
Speakers:
Frances A. McElhill, Esq.
Farah N. Ansari, Esq.