Unlocking Restricted Funds: UPMIFA, Endowment Challenges, and the Demographic Cliff

Taft partners Megan and Okun and Sarah Jenkins will present “Unlocking Restricted Funds: UPMIFA, Endowment Challenges, and the Demographic Cliff” webinar on Tuesday, May 12, at 2:00 PM ET. During the presentation, Okun and Jenkins will explore gift agreement and endowment restrictions, how those restrictions can limit institutional flexibility, and the legal and financial challenges created by the impending demographic cliff. They will also discuss the practical options available under UPMIFA and related law for modifying or releasing donor restrictions and how legal counsel can help navigate these issues.

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1.0 hour CLE credit pending for Arizona, Colorado, Florida, Indiana, Illinois, Kentucky, New York, Ohio, Minnesota, and Virgina.

Okun focuses her practice on counseling nonprofit and tax-exempt organizations and on estate planning for high net-worth families. Given her knowledge of and experience with tax law, Okun helps nonprofit and tax-exempt organizations of all shapes and sizes navigate all tax and governance aspects of their organizations and operations. Okun has extensive experience counseling large tax-exempt organizations, including colleges and universities, health systems, and company and family foundations, regarding governance, structuring, and compliance matters. Further, she guides them through the nuances of joint ventures, fundraising, endowment fund strategies, charitable and planned giving program criteria, commercial coventures, and working with donors.

Jenkins is an experienced litigator who works closely with her clients to guide them through commercial, appellate, and probate litigation. She has represented a wide range of clients, including individuals, nonprofits, foundations, banks, and financial institutions through a variety of disputes.  Jenkins is a fellow with the American College of Trust and Estate Counsel (ACTEC) and the former chair of the Indiana State Bar Association’s Probate, Trust & Real Property Section. She is actively involved in the Indiana State Bar Association’s Probate Review Committee, drafting and lobbying for probate and trust-related legislation in Indiana.  Jenkins has litigated trust, probate, and fiduciary disputes in state, federal, and appellate courts across the country.  She regularly advises and represents clients on asset protection litigation, will and trust contests, breach of fiduciary duty and fiduciary removal actions, and contests of inter vivos transfers, and the administration of endowments under the Uniform Prudent Management of Institutional Funds Act.