Which is why I'm asking this question.... The term quasi endowment appears in Russo's Excellence in Fundraising...from which I listed the definitions in my last post. I've searched for more information - the term quasi endowment appears in quite a few university endowment policies.
I was hoping to get more basic information before turning to a non-profit attorney (who naturally will be best able to advise us); however, we need basic info so that we can even ask the necessary questions.
We have kept the executor informed, he is allowing us to make the decision (how wonderful that a donor allows an organization to make a decision based on the organization needs and not the donor's uninformed wants.)
