Post by Sapphire Capital on Oct 13, 2008 21:06:45 GMT 4
Congressional Roundtable on College Endowments - Restricted Gifts Testimony
Iris Goodwin
University of Tennessee, Knoxville - College of Law
September 8, 2008
Abstract:
Congressional Roundtable on College Endowments and College Affordability Sponsored by Senator Charles Grassley and Congressman Peter Welch; Senate Finance Committee Hearing Room; September 8, 2008
Panel 2: What is an Endowment?
Remarks by Iris Goodwin, Associate Professor, University of Tennessee College of Law
Restricted Gifts
Restricted purpose gifts potentially bear upon that portion of the university's endowment that can be used toward undergraduate financial aid and other tuition relief. In these remarks, I describe what a restricted gift is, the requirement under state common law that such restrictions obtain in perpetuity, the grounds for relief under the common law, and the grounds for relief and other relevant provisions of UPMIFA. The provisions of UPMIFA that are applicable to restricted gifts were drafted against the background of the common law doctrine and under UPMIFA common law relief is still available.
hq.ssrn.com/Journals/RedirectClick.cfm?url=http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1268999&partid=980087&did=33729&eid=46790346
Iris Goodwin
University of Tennessee, Knoxville - College of Law
September 8, 2008
Abstract:
Congressional Roundtable on College Endowments and College Affordability Sponsored by Senator Charles Grassley and Congressman Peter Welch; Senate Finance Committee Hearing Room; September 8, 2008
Panel 2: What is an Endowment?
Remarks by Iris Goodwin, Associate Professor, University of Tennessee College of Law
Restricted Gifts
Restricted purpose gifts potentially bear upon that portion of the university's endowment that can be used toward undergraduate financial aid and other tuition relief. In these remarks, I describe what a restricted gift is, the requirement under state common law that such restrictions obtain in perpetuity, the grounds for relief under the common law, and the grounds for relief and other relevant provisions of UPMIFA. The provisions of UPMIFA that are applicable to restricted gifts were drafted against the background of the common law doctrine and under UPMIFA common law relief is still available.
hq.ssrn.com/Journals/RedirectClick.cfm?url=http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1268999&partid=980087&did=33729&eid=46790346