Chapter 15, Problem 14C

a.

To determine

Identify whether organizations in State M subject to UPMIFA.

b.

To determine

Explain with reasons whether the foundation is subject to UPMIFA.

c.

To determine

Explain whether the spending rate is determined by UPMIFA. Explain whether the determined rates are flexible or not and explain the reason regarding the spending or expenditure of funds. Explain the manner of resolving Person CH’s concern using UPMIFA guidance.

d.

To determine

Explain the alternative available with respect to 50 – year old endowment in accordance with UPMIFA.