Word: funded
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Dates: during 2000-2009
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Known as the Uniform Prudent Management of Institutional Funds Act, the legislation would aid universities by eliminating the “historic dollar value” rule currently in effect in Massachusetts. The rule, a product of legislation dating from the 1970s, prevents institutions from spending from a particular endowment fund if its value falls “underwater”—below levels pegged to a specific point in time, such as the donor’s date of death...
...Boundless Playgrounds do cost a community more. The organization raised more than $2.5 million last year to help defray the additional expenses in several municipalities. Rockwell and Kaboom! are exploring how royalties from the Imagination Playground in a Box - the portable wonderlands cost approximately $6,500 a pop - can fund an endowment to cover one rather significant, ongoing cost: a paid Play Associate, i.e., a trained adult who can help direct play while ensuring that those loose parts don't go missing. "It's a model we've borrowed from England," Rockwell says. "That person is in charge of fostering...
...complaint says, only approximately $746,000 remained in all Agape accounts and most of Agape's money was used to pay prior investors, pay more than $55 million to brokers who recruited investors, and fund seven commodities-futures-trading accounts controlled by Cosmo. Those accounts, the complaint says, lost more than $80 million between October 2003 and October 2008. (See the Top 10 financial collapses...
Kessler's investigations found that brokers "lived lavishly and there were a lot of red flags, not the least of which was that Cosmo was a convicted felon." (Read "The Ponzi Scheme in Every Hedge Fund...
Robert Chew is a former investor with Madoff via a feeder fund. He lives in Colorado...