Attorney General Issues Guidance on Access to Endowment Funds
April 29, 2020
On March 27, 2020, we issued the alert Endowment Funds in the Time of Coronavirus, describing options for struggling nonprofits seeking to access their endowment funds. On April 28, 2020, the Charities Division of the Massachusetts Attorney General’s Office issued new guidance regarding nonprofit endowments, which addresses many of the same options discussed in our alert. In particular, the Attorney General recommends that nonprofits seeking to access their endowments because of the current emergency consider the following...