Up there, as in the States, organizations themselves explain (again) that endowments are for providing income year after year and that drawing down capital is less than prudent (and forbidden by regulations). But in Canada, the issue is complicated by the fact that many of those endowments include money that came from the government, and there’s an argument that “it is bad public policy to lock up today’s tax dollars in foundations for future needs when the government might otherwise spend them on immediate public benefits.” – The Globe and Mail (Canada)
