Endowments: Dipping in During Emergencies
“The COVID-19 pandemic has wreaked havoc on the finances of a broad swath of the nonprofit sector,” we wrote last summer in Diverting Restricted Funds During A Crisis.
Dependable sources of revenue evaporated overnight or at least slowed to a trickle. Many organizations had to scramble for temporary replacement income including – where possible – virtual instead of in-person fundraisers and programs.
For organizations in the enviable position of having endowments, there have been…