This in-depth podcast (37 minutes) is a legal practitioner's guide to the complexities of charitable endowments, explaining the different perspectives on endowments (donor, accounting, and legal). It focuses primarily on the legal framework established by the Uniform Prudent Management of Institutional Funds Act (UPMIFA) of 2006, detailing its modern portfolio theory approach to investment, outlining common misconceptions and corrections, and providing guidance on the creation and management of true endowments. The guide also addresses how to modify endowment restrictions, enforcement mechanisms, accounting considerations, and best practices for legal counsel in navigating the legal and practical challenges of managing charitable endowments.
