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General fund – This is the minimum fund needed for unrestricted resources and relates to current as well as non-current assets and related liabilities which can be used at the discretion of the organisation's governing board. Designated fund – assets which have been assigned to a specific purpose by the organisation's governing board but ...
A board of directors is an executive committee that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws ...
Many states have adopted an optional provision to limit the spending to 7% unless the board can show that the spending meets UPMIFA's standards of prudence. This board-approved spending policy must be based on the average market value of the endowment investments over the 12 quarters (or more) immediately preceding the calculation.
Fund governance refers to a system of checks and balances and work performed by the governing body (board) of an investment fund to ensure that the fund is operated not only in accordance with law, but also in the best interests of the fund and its investors. [1]
An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation.The informal nature of an advisory board gives greater flexibility in structure and management compared to the board of directors.
The term “slush fund” refers to money that has been set aside without a designated use. A business might keep a general account that is a slush fund. However, many people use a slush fund when ...
Regulation D, or Reg. D, is a Federal Reserve Board rule that previously limited withdrawals and transfers to six each statement cycle. The Fed revised the rule, but many banks have maintained the ...
Engraving of Harvard College by Paul Revere, 1767. Harvard University's endowment was valued at $53.2 billion as of 2021. [1]A financial endowment is a legal structure for managing, and in many cases indefinitely perpetuating, a pool of financial, real estate, or other investments for a specific purpose according to the will of its founders and donors. [2]