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Download full textCary, William L.; Meck, John F. – NACUBO Professional File, 1970
In 1969, in a report to The Ford Foundation entitled "The Law and the Lore of Endowment Funds," William L. Cary and Craig B. Bright summarized the results of an extensive survey of the law governing college and university endowment funds. The key conclusion of the report is that "there is no substantial authority under existing law…
Descriptors: Accounting, Endowment Funds, Financial Support, Higher Education
Cary, William L.; Bright, Craig B. – 1969
This report examines the law governing endowment funds in an attempt to determine its bearing on the formulation of a sound university investment policy, i.e. whether the law is a neutral factor, or whether the law limits the flexibility of directors of educational institutions and forecloses choices otherwise open to them. Part I of the report…
Descriptors: Educational Economics, Educational Finance, Financial Policy, Higher Education
