Use of Restricted Assets During a Crisis: Is It Time to Raid the Endowment?


This Essay summarizes parts of the argument found in Jill R. Horwitz, “The Endowment Is Not For You: Endowment Restrictions And Crises” (unpublished manuscript on file with author).

About the Author

David Sanders Professor of Law and Medicine, Founding Faculty Director, Program on Philanthropy and Nonprofits, UCLA School of Law. Horwitz thanks Ian Anstee, Jacqlyn Blatteis, Rod Dobell, Joel Feuer, Karen Meacham, Steve Poskanzer, Richard Schmalbeck, and participants in the Symposium on The Restatement of the Law, Charitable Nonprofit Organizations for thoughtful comments on this Essay.