The Massachusetts Association of Nonprofit Schools and Colleges

The Massachusetts Association of Nonprofit Schools and Colleges (MANS&C) is an organization made up of private, independent schools, colleges and universities in Massachusetts.Our purpose is to monitor and respond to legislative and regulatory activity by the Commonwealth that has a direct impact on the welfare of our membership.

By combining our collective interests and sharing information, we increase our ability to be informed and active in this vital area of mutual concern. Through our legal counsel and collaborative efforts with other organizations that share this mission, we insure that our interests are appropriately articulated and persuasively presented to legislative and regulatory bodies.

UPMIFA Passage is Victory for MANS&C, Nonprofits

Nonprofit schools and colleges will have greater flexibility in managing their endowments under a bill passed by the legislature and signed into law recently by Gov. Deval Patrick.

The measure, known as the Uniform Prudent Management of Institutional Funds Act (UPMIFA), was championed by the Massachusetts Audubon Society and a number of nonprofit organizations, including MANS&C.

“This law offers some welcome relief for institutions that are faced with cutting programs or eliminating staff in these challenging economic times,” MANS&C Co-President Bruce T. Amsbary said. “It provides us with more latitude to maintain the high quality that is the hallmark of our schools and colleges. The Audubon Society is to be commended for its efforts in achieving its passage.”

The new law replaces the Uniform Management of Institutional Funds Act (UMIFA), which was enacted in 1975. It provides much stronger guidance for investment management and more exact rules for prudent investing, based on the experience gained over the last 35 years in states that adopted UMIFA.

Under UMIFA, nonprofits could spend only 7 percent of their endowments’ appreciated value in any one year. Principal could be spent only with the donor’s approval.

UPMIFA, also known as the Nonprofit Sustainability Act, recognizes donor intent more broadly. It permits organizations to dip into their endowment’s core assets if certain stringent conditions are met.

The new law also allows nonprofit organizations to delegate the management and investment of charitable funds to external agents.

Click here to read the full text of the Nonprofit Sustainability Act.

Economic Impact Survey is Underway

Members are being urged to fill out the new Economic Impact Survey, which will provide MANS&C with crucial data on the economic importance of nonprofit schools and colleges in Massachusetts. The information will help MANS&C advance the cause of our institutions in the state legislature.

It is important to note that the data will be presented only in aggregate form. The results from each individual school or college will be kept strictly confidential.

Members who have not already responded can take the survey by clicking here. Gathering the data and entering it online takes less than half an hour.

If your school or college creates an annual Community Impact Statement, please mail it to:

Bruce T. Amsbary and Julaine McInnis
Co-Presidents
Massachusetts Assn. of Nonprofit Schools and Colleges
c/o The Rivers School
333 Winter St.
Weston, MA 02493-1040

If you would prefer to e-mail your Community Impact Statement to us or if you have any questions, please contact us at:

Create a Community Impact Statement

Nonprofit schools and colleges are increasingly being seen as revenue sources by local communities facing tight budgets.

To help meet that challenge, MANS&C is offering its members comprehensive information on the importance of Community Impact Statements and a tool that will help our institutions create them.