FORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT Prefatory Note Reasons for Revision. The Uniform Prudent Management of Institutional Funds Act (UPMIFA) replaces the Uniform Management of Institutional Funds Act (UMIFA). The National Conference of Commissioners on Uniform State Laws approved UMIFA i

clearly in a written gift instrument, the Act requires that the charity follow the donor's instructions. When a donor's intent is not so expressed, UPMIFA directs the charity to spend an amount that is prudent, consistent with the purposes of the fund, relevant economic factors, and the donor's intent

lored investment recommendations allowing donor to receive customized portfolio construction and to make asset allocation recommendations subject to UPMIFA state fiduciary statues • Possible for donor to have a 5O board position and direct investments • Investment performance of one donor's contributi

ctices of foundation investment management that follow. 10 Increasingly, particularly with the adoption of UPMIFA by the vast majority of states and UPMIFA's inclusion of state law private foundation and trust regulatory concepts, regulation of investment management practices have coalesced around an a