GuideStar Blog

Lee T. Sullivan

Recent Posts by Lee T. Sullivan:

The Ins and Outs of Endowments

For nearly 35 years the Uniform Management of Institutional Fund Act (UMIFA) outlined the laws regarding the management and investment of institutional funds and permanent endowments in 47 states. In 2006, the Uniform Prudent Management of Institutional Funds Act (UPMIFA) was created. It has slowly been adopted by most states to provide guidance regarding endowments.