For New York charities with permanent endowments, this week might be a time to call your New York State legislators and plead for action on UPMIFA (see below older posts for more info).
I received an email yesterday looking for guidance on UPMIFA in case the New York State Legislature actually has a regular session next week. The original email came from the Commission on Independent Colleges and Universities in Albany, NY. It was pleasure see that at least one organization was on top of the issue and pushing for this law to fix lingering endowment issues from the market crash.
43 states have already enacted UPMIFA. Hard to believe New York lawmakers would ignore the plight of many of their top universities and major institutions still dealing with frozen endowments.
http://plannedgift.blogspot.com/2009/06/underwater-endowments-in-new-york-and.html
http://plannedgift.blogspot.com/2009/07/harvard-not-going-under-massachusetts.html
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1 comment:
no surprise here - New York State lawmakers have been totally self-serving and missing in action. They should all be voted out of office so we can finally get something done.
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