Jack's Journal - February 2021


The Financial Intersection of COVID Expenses and the (inflated) Stock Market

Jack Horak
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

January 2024 – Founders Forum by Rollin Schuster

As many of you know we acquired the rights to show the Oscar nominated movie UnCharitable. It’s based on Dan Pollatta’s book and produced by acclaimed Hollywood Director Stephen Gyllenhaal.

Last Thursday evening was a cold and rainy, nasty night here in Hartford yet we filled the theatre at Trinity College with TANGO Members, all braving the weather to see the film UnCharitable.

Partners Perspective – January 2024

Staffing has been especially challenging for nonprofit Health and Human Services (HHS) organizations in recent years. Staffing in this industry has always been particularly difficult due to limited budgets, high employee turnover rates, and the level of specialized skills and certifications required for these roles.


Jack Horak
Director of Nonprofit Education & Consulting

TANGO – The Alliance for Nonprofit Growth & Opportunity
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Farmington, CT 06032

Membership is complimentary to all Nonprofit organizations thanks to the generosity of our corporate partners.

With over 1,600 nonprofit organizations throughout New England, TANGO has become a powerful community helping nonprofit organizations reach their mission.

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