The Uniform Prudent Management of Institutional Funds Act does not expand the scope of standing to allow potential beneficiaries of charitable funds to sue a charity for mismanagement of those funds, an appellate court in Colorado has ruled.  It has affirmed a trial court dismissal of a claim by donors to the University of Colorado Foundation that mismanagement had cost the Foundation over $1 billion in unrealized revenue.

A charitable foundation holding digital assets given to it by the creator of the crypto currency is not entitled to intervene in a case brought by the Securities and Exchange Commission claiming that the issuer failed to file a registration statement under the Securities Act, the First Circuit Court of Appeals has affirmed.  It is an early case involving crypto assets involving a charity.

President Biden’s budget proposes to limit the loophole in the current tax law that allows a private non-operating foundation to get credit towards its minimum distribution requirement by making a grant to a donor advised fund.  The grant would qualify only if the DAF regranted the funds by the end of the following tax year.