Tough Times, Big Decisions
In his final entry for the Nonprofit Organization Report Jack Horak leaves his post at Reid and Riege with a bang!
In these times of tight money at the federal, state and local governmental levels, Jack predicts Boards of nonprofits are in for big decisions about their stewardship of nonprofit endowments. He cites the recent attempt by the State of Connecticut to "tax" Yale's endowment and gives us context for that unsuccessful move to the Magna Carta and the king's expectations about gifts of land to the Church. This tension between government and the philanthropic sector about whose responsibility it is to provide for basic human needs and quality of life (and who is going to pay for it!) goes back a long time.
Thank you, Jack, and good luck in your new venture with The Alliance for Non-Profit Growth and Opportunity (TANG).
For more information about endowments, please see The Foundation's upcoming workshops:
Ready to talk about endowment? (Oct 19)