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MOCA's board fulfills its fiduciary responsibility by demonstrating their capacity to raise the endowment as they have begun to do.
This left intactlegislation to raise the endowment's $15.8-million 15.8-million5 million next year.
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Dr. Papadakis raised the endowment, enrollment and profile of Drexel, a onetime commuter school.
Starting in 1982, he said, the foundation raised the endowment money, pledging to preserve at least $20 million.
The Philadelphia Orchestra cited what it said were Ms. Vulgamore's successes in Atlanta: raising the endowment, tripling the budget, enlarging the audience and adding educational programs.
Looking forward, Golden plans to invest even more in developing countries, raising the endowment's allocation in that area from 9percentto11percentcent.
She was president of the MIT Women's Association from 1940-44 and was instrumental in raising the endowment for the Ellen Swallow Richards Professorship, named in honor of MIT's first woman student and faculty member.
Unrestricted gifts that should have been used to raise the company's endowment were drawn upon for operating costs.
It has tried and failed to raise the money for an endowment, it said.
Mr. Saint said the society planned to raise the $20 million for construction and endowment from foundations, the private sector and other sources now that the group had a site.
The transfers, while widely hailed by the institutions, may be a mixed blessing in some cases, with infusions of assets so great that the Metropolitan Opera, for example, will have to raise the $200 million goal of its endowment campaign to avoid suddenly meeting it and losing potential private benefactors.
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