References in periodicals archive ?
Organizations should have an investment policy that clearly complies with UPMIFA and addresses how management, within prudence, interprets spending funds from endowments.
Interpretation of Relevant Law: The Executive Committee of the Society has interpreted the Uniform Prudent Management of Institutional Funds Act (UPMIFA) as requiring the preservation of the fair value of the original gift as of the gift date on the donor-restricted endowment funds absent explicit donor stipulations to the contrary.
(81) The Uniform Trust Code, now adopted in thirty-one states and the District of Columbia, (82) follows the Restatement's formulation, (83) as does UPMIFA, which applies cy pres and deviation to funds held by charities organized as nonprofit corporations.
The UPMIFA poses significant obstacles to universities and trustees wishing to pursue SRI.
In accordance with UPMIFA, the Association considers the following factors in making a determination to appropriate or accumulate donor restricted endowment funds including the duration and preservation of the funds, the purpose of the Association and the donor-restricted endowment funds, general economic conditions, the possible effect of inflation and deflation, the expected total return from income and the appreciation of investments, other resources of the Association, and the investment policies of the Association.
This is the UPMIFA rule applied to a single point in time, not an average.
that UMIFA bound the schools throughout the crisis; UPMIFA's
(To find out more about UPMIFA and to see if your state has passed this new legislation, visit www.upmifa.org.)
Legislation, case law and regulatory opinion letters from the Employee Retirement Income Security Act (ERISA), Uniform Prudent Investor Act (UPIA), Uniform Prudent Management of Institutional Funds Act (UPMIFA), and the Uniform Management of Public Employee Retirement Systems Act (MPERS) in the United States substantiates the standard by which the certification is based.
The Society and Foundation present their financial statements in accordance with net asset classification of funds subject to an enacted version of the Uniform Prudent Management of Institutional Funds Act (UPMIFA).
UPMIFA eliminates the historical dollar threshold and establishes
Performance is not a standard under UPMIFA, Hagan says, but it is clearly an important consideration for responsible boards.
Acronyms browser ?
Full browser ?
- UPMAIL Tricia Prolog