March 14, 2008
States Make It Easier to Spend Endowments
A growing number of states are passing laws to make it easier for colleges and other nonprofit groups to spend their endowment assets during difficult economic times.
The new laws allow institutions to pay for scholarships, facilities, and other needs even as their endowments are losing money. While many colleges may not choose to spend from their endowments when their investments go south, the new laws give them the flexibility to do so.
In the past, laws in many states
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