July 24, 2008
Nonprofit Boards Must Keep an Eye on Hedge-Fund Investments
Nonprofit organizations have long relied on the income from carefully invested endowments to cover expenses. Those endowments are often run by professional money managers and overseen by financial officials at the nonprofit institution as well as members of the board and other volunteers.
Due to the nature of nonprofit endowments, managers traditionally have placed funds in relatively safe investments to protect the perpetuity of the endowment. That generally meant that the majority
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