Angela Fogt

May 3, 2024 | jdsupra.com | Angela Fogt |John Gardner |Emanuel McMiller

The purpose of Georgia's and Kentucky’s new donor intent protection acts is to allow donor standing for violations of donor-imposed restrictions for endowment funds that are governed by an endowment agreement. Georgia and Kentucky are now the third and fourth states to allow donor standing for endowment violations, following Iowa and Kansas. The Ohio and Vermont legislatures are considering similar efforts.

Mar 27, 2024 | jdsupra.com | Angela Fogt |John Gardner |Emanuel McMiller

A Missouri state court allowed Webster University to reclassify various donor-restricted endowment funds as unrestricted endowment funds so the funds could be held as collateral to help Webster meet a minimum liquidity ratio requirement.

Sep 7, 2023 | jdsupra.com | Angela Fogt |Joseph Miller Jr. |Jane Wilson

Earlier this summer, the Supreme Court decided the Students for Fair Admissions cases holding that the race-conscious admissions programs used by Harvard and UNC were unconstitutional. While the immediate impact of this decision is confined to higher education, it raises questions as to how follow-up litigation could impact the nonprofit sector, especially as it relates to DEI programs and using race as a consideration in grantmaking, contracting and programs.