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	<title>CharityLawyer &#187; UMIFA</title>
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		<title>Nonprofit Law Jargon Buster: What is an Endowment?</title>
		<link>http://charitylawyerblog.com/2011/07/13/nonprofit-law-jargon-buster-what-is-an-endowment/</link>
		<comments>http://charitylawyerblog.com/2011/07/13/nonprofit-law-jargon-buster-what-is-an-endowment/#comments</comments>
		<pubDate>Wed, 13 Jul 2011 07:12:37 +0000</pubDate>
		<dc:creator>Ellis Carter</dc:creator>
				<category><![CDATA[Charitable Assets]]></category>
		<category><![CDATA[Donor Restrictions]]></category>
		<category><![CDATA[Endowment]]></category>
		<category><![CDATA[Gift Restrictions]]></category>
		<category><![CDATA[Governance]]></category>
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		<description><![CDATA[Black’s Law Dictionary, 9th ed., defines an endowment as: A gift of money or property to an institution (such as a university) for a specific purpose, esp. one in which the principal is kept intact and only the interest income from that principal is used. This is the popular definition familiar to most nonprofit executives. [...]]]></description>
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		<title>Permanent Endowment = Infinity and Beyond</title>
		<link>http://charitylawyerblog.com/2009/09/23/permanent-endowment-infinity-and-beyond/</link>
		<comments>http://charitylawyerblog.com/2009/09/23/permanent-endowment-infinity-and-beyond/#comments</comments>
		<pubDate>Wed, 23 Sep 2009 16:12:00 +0000</pubDate>
		<dc:creator>Ellis Carter</dc:creator>
				<category><![CDATA[Donor Restrictions]]></category>
		<category><![CDATA[Endowment]]></category>
		<category><![CDATA[Gift Restrictions]]></category>
		<category><![CDATA[UMIFA]]></category>
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		<description><![CDATA[Most non-profits understand that if a fund is a permanent endowment, the principal must be preserved in perpetuity. Still, in my practice and in the ASU Lodestar Center course I teach on non-profit law, I am often surprised by how little some fundraising professionals understand about the mechanics of gift restrictions &#8211; particularly the implications of permanent restrictions [...]]]></description>
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