Your “Underwater” Endowment: What to do?

Orchestras are faced with new challenges in the management of endowments in this era of declining endowment values, “underwater endowments”, and new regulations.  This session will focus on the information and tools you need to have.  We will examine the evolving regulatory environment – discussing state laws (Uniform Management of Institutional Funds Act and Uniform Prudent Management of Institutional Funds Act) and how they impact your organization’s ability to utilize endowment funds and investment earnings.  We will also explore how endowment and investment activity is reported in your organization’s financial statements, and how you best communicate these complex issues with your board, community, and staff.  The session will focus on the management of both restricted endowments and unrestricted investment funds.

Presentors: Steven Bronfenbrenner, Principal, B Squared Consulting; Kendis Key Muscheid, Director, Fennemore Craig