Jack's Journal - February 2021
The Financial Intersection of COVID Expenses and the (inflated) Stock Market
Director of Nonprofit Education & Consulting
Nonprofit organizations which are fortunate enough to have an endowment typically have two formal policies: an Investment Policy and a Spending Policy.
The first goes to the actual investments (what stocks and bonds to own), and the second goes to the percentage of the endowment’s value that will be spent in any one year.
In this month’s video edition of Jack’s Journal, I interview two TANGO Partners to discuss what impact, if any, should unusual expenses arising from the Pandemic have on the spending policy? Is it prudent, or imprudent, to tap the extraordinary market appreciation of the last 12 months? What are the investment and the legal implications in a situation of this type?
My guests are Ben Kille from Private Capital Group and Ed Spinella, Esq. from Murtha Cullina. We hope you enjoy the interview and please reach out directly to Ben or Ed with any questions you may have.
More From TANGO
Jack Horak discusses how it is required that nonprofit newspapers’ content be educational — cover both sides of issues so that readers can form their own judgments with respect to the issues of the day.
How can nonprofit journalism stay true to their legal obligation to educate readers about both sides of the stories or issues they cover so that they can make up their own minds.