Underwater Endowments

Some material from CASE
http://www.case.org/Public_Policy/United_States/Underwater_Endowments.html


Here’s a NP Times story about underwater funds:
http://www.nptimes.com/Apr04/sr1.html

Here’s a more recent article that covers release or modification of donor restrictions:
http://www.ropesgray.com/underwaterendowmentfunds/

Some additional web based material
http://www.bkd.com/docs/news/Impactof%20FASB124.pdf
http://www.uwsa.edu/tfunds/underwaterendowprac.htm
http://www.finance.upenn.edu/ftd/documentation/endow_manual.pdf