Underwater Endowments: Understanding Your Options

March 2009

With world financial markets down dramatically, and losses magnified by far-reaching financial fraud, many charities are facing difficult questions about what they can and must do with endowment funds that are underwater. We have been receiving many questions from our clients on this subject, and it is our sense that charities might find it helpful to better understand the law in this area and the options available to them.

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