Word: kerrs
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Dates: during 2000-2009
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...We’ve been getting an awful lot of inquiries about [UPMIFA], and we’re going to be talking about it to the folks on the ground there,” Kerr said. “There’s a reasonable chance that we’re going to run it this session...
...current economic downturn has put several funds at risk of going “underwater,” and therefore helped provide an impetus to pass UPMIFA, Kerr said...
...Uniform Law Commission held a meeting in 2008 with officials from various universities to discuss the legislation, according to Kerr. Kerr said officials from several area schools including Emerson, Tufts, Boston College, and Harvard expressed interest in receiving materials and additional information, but he was unsure if they attended the conference in person. In interviews with The Crimson, Harvard officials have not acknowledged any familiarity with the legislation...
UPMIFA was originally drafted following the collapse of the “dot-com bubble” in the early 2000s, Kerr said. Newly wealthy individuals transferred funds to foundations, only to see the value of these gifts plummet with the stock market—thereby rendering them unusable. The current economic crisis is in some ways a “repeat of the doc-com bust, but more widely spread,” Kerr said...
...There are an awful lot of community organizations, non-profits, endowments, that very much want to keep going at their mission, even though stock market reversals in the past year may have left funds near or under historic dollar value,” Kerr said. “This is one of the pressures out there to see UPMIFA widely adopted...