superrific
Legend of ZZL
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For what it's worth, there's a doctrine in law called cy pres, which allows a court to redirect the funds from a charitable trust or gift if the original purpose behind the bequest is no longer feasible.
For instance, giving a grant for an endowed chair in history will have its purpose frustrated if Harvard were to go belly up. That's an extreme case. I don't know trusts and estates law basically at all, so I don't know what else might qualify, but anyway . . .
I suspect Harvard is talking to many donors about releasing the money for more general purposes, or "borrowing" against the donation.
For instance, giving a grant for an endowed chair in history will have its purpose frustrated if Harvard were to go belly up. That's an extreme case. I don't know trusts and estates law basically at all, so I don't know what else might qualify, but anyway . . .
I suspect Harvard is talking to many donors about releasing the money for more general purposes, or "borrowing" against the donation.