Nonprofits across the country have been hit with a massive double blow. COVID-19 has shut down charitable activities and frozen many revenue streams, forcing many nonprofit employers to streamline operations, and potentially to lay off staff. At the same time, stock market losses in recent weeks have put great strains on endowments. Many nonprofits find themselves looking to remaining endowment funds to help supplement operating funds until things stabilize, but are appropriately nervous about violating state law by misusing endowments.
To what extent can nonprofits activate their remaining endowments to keep themselves afloat?
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