 |
 |
 |
 |
 |
 |
 |
|
Sign up to receive PND e-newsletters. |
|
| |
|
| Re: Quasi Endowment - more information needed
Posted by Julie Rodda  on 1/4/2008, 6:50 pm, in reply to "Quasi Endowment - more information needed"
VIP Poster
You mention in your post that "(the executor has given the Board leeway in setting up true or quasi endowment). To make an informed decision we need more information about quasi endowments".
After reading your post, Tony's post & Aurelia's post, it seems clear that your best informed decision would be made from direct input of the executor who in this instance utilized the term "quasi" in the first place.
That executor should attend the board meeting wherein the money is discussed, so there is no misunderstanding of his/her position, and the board has a face to face hearing and understanding of true intention for those dollars directly from the source itself. As Tony mentioned, those dollars mean a great deal to the person(s) who made the bequest. It seems apparent to me that the executor makes the call, and the board follows that lead.
If you continue down the "quasi road", you must understand that what you speak of is unusual, and best if referred to a qualified non profit attorney. Better to initiate this with sound legal and practical understanding for all parties involved. A book can be a great resource, but laws vary from state to state, and you need specific rather than general advice in this circumstance.
|
Julie Rodda
http://www.roddaconsulting.com/
Funding Consulting, Grant Research
& Proposal Writing Services
| |
