CICU Webinar: Endowments in Higher Education

Commission on Independent Colleges and Universities (CICU) hosts webinar to discuss endowments

Kelly Marks served as a presenter for the CICU webinar, titled “Endowments in Higher Education,” which provided an overview of New York’s Prudent Management of Institutional Funds Act. The presentation also discussed the differences between endowed funds, donor-restricted funds and board-restricted funds; the processes available to modify donor-imposed restrictions; and the considerations set forth in NYPMIFA for investing and spending funds subject to the Act. Kelly also discussed some recent legislative developments, as well as the rights creditors may have to funds contributed by donors.