New York AG Issues Endowment Guidance- Exempt from The NonProfit Times March 22, 2011

New York AG Issues Endowment Guidance- Exempt from The NonProfit Times March 22, 2011: "March 22, 2011

New York AG Issues Endowment Guidance

New York Attorney General Eric T. Schneiderman released a guide for charities on new legislation that changes the rules on how they manage, invest and spend their endowments and other funds. The booklet, A Practical Guide to the New York Prudent Management of Institutional Funds Act, is available on the Attorney General’s Charities Bureau website, and provides guidance on frequently asked questions about the new law."

Bill Would Limit How New York Museums Could Use Money From Sales of Artworks - NYTimes.com

Bill Would Limit How New York Museums Could Use Money From Sales of Artworks - NYTimes.com: "Selling parts of a collection to cover museum operating costs would be illegal under a bill introduced in the New York State Legislature late Tuesday afternoon. The bill, drafted by Assemblyman Richard L. Brodsky in collaboration with the New York State Board of Regents and the Museum Association of New York, would prohibit museums from using proceeds from the sale of artworks “for traditional and customary operating expenses.”"

Cuomo extends ruling on LIPA charitable giving -- Newsday.com

Cuomo extends ruling on LIPA charitable giving -- Newsday.com: "A ruling from the state attorney general that put the brakes on charitable giving by the Long Island Power Authority will apply to authorities across the state.

'Every public authority must scrutinize their own practices in light of the opinion to determine whether they are covered by it,' John Milgrim, a spokesman for Attorney General Andrew Cuomo told Newsday last week. 'We consider the opinion to be a precedent.'"