The Uniform Prudent Management of Institutional Funds Act (UPMIFA) provides guidelines for the management and investment of institutional funds held by charitable organizations. It replaces the Uniform Management of Institutional Funds Act (UMIFA) and introduces modern standards for prudence in investment and spending decisions. The Act emphasizes donor intent, prudent management, and the preservation of endowment funds. It includes provisions for the release or modification of restrictions on funds, delegation of management functions, and a rebuttable presumption of imprudence for spending above a certain threshold. The Act applies retroactively to existing funds and aims to provide uniformity across states.
documents/EFTA00598276.pdf
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