Wiensch Quoted on Nonprofit Endowments

Foley Partner Adam Wiensch was quoted in an article titled “New law lets nonprofits tap into their endowments” in the July 21, 2009 issue of the Milwaukee Journal Sentinel. Wiensch discusses a new law which allows nonprofits more flexibility in tapping into endowment funds at a time when many have incurred losses because of the economic downturn. He acknowledges that the law raises a concern that some organizations may spend unwisely and deplete their endowments, but notes that the attorney general has the authority to intervene in such cases to protect the public’s interest.