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PRO & CON: ARE ENDOWMENTS A GOOD IDEA?
Many, if not most, trustees and officers of nonprofit institutions cannot imagine operating without endowments. Prudence demands, and common law encourages, institutions to set aside some of each year's unspent earnings, together with gifts given in perpetuity, to help maintain operations in future years when revenues,...
Endowments Are Not a Luxury
By DENNIS R. HAMMONDMany, if not most, trustees and officers of nonprofit institutions cannot imagine operating without endowments. Prudence demands, and common law encourages, institutions to set aside some of each year's unspent earnings, together with gifts given in perpetuity, to help maintain operations in future years when revenues,...