October 15, 2009
What It Means to Use Endowment Money Wisely
To the Editor:
The article in your September 17 issue "New State Laws Give Charities More Wiggle Room on Endowment Spending" explains some of the changes the Uniform Prudent Management of Institutional Funds Act brings to the law governing endowment spending, but contains a few statements that may be misleading.
The article made the first two of the following statements directly and implied the third. These three statements
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