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Not For Profit/Exempt Organizations Blog

Tag Archives: NPC

New York Finally Passes Its Version of UPMIFA

Posted in Endowments

On September 17, 2010, New York State modified its laws governing the management and investment of charitable gifts by New York nonprofit institutions. Specifically, the NYS legislature adopted, subject to certain modifications, the Uniform Prudent Management of Institutional Funds Act. Importantly, officers should ensure that their Board is aware of all of the Act’s changes and that the relevant institutional policies, particularly investment policies, and practices are reviewed and revised accordingly.