When your nonprofit gets ready to invest, or if it already has an investment portfolio what should your board know about the legal framework within which nonprofits must invest? What are the rules of practice that a thoughtful and prudent board should observe? Woods Bowman and Elizabeth Keating take on these questions and more in an excerpt from a chapter on investment income to be published in September 2006. As always, Bowman and Keating address complicated concerns like balancing risk and return in a decidedly straightforward manner. They end with a discussion of “Dos and Don’ts." This is an excellent handout for boards. [5 pages; 648k]