{"data":{"id":"us-dc/d.c.-code-44-1635","jurisdiction":"us-dc","citation":"D.C. Code § 44-1635","heading":"Release or modification of restrictions on management, investment, or purpose.","body":"(a)\nIf the donor consents in a record, an institution may release or modify, in whole or in part, a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund. A release or modification may not allow a fund to be used for a purpose other than a charitable purpose of the institution.\n\n(b)\n(1)\nThe court, upon application of an institution, may modify a restriction contained in a gift instrument regarding the management or investment of an institutional fund if:\n(A)\nThe restriction has become impracticable or wasteful;\n(B)\nThe restriction impairs the management or investment of the fund; or\n(C)\nBecause of circumstances not anticipated by the donor, a modification of a restriction will further the purposes of the fund.\n(2)\nThe institution shall notify the Attorney General for the District of Columbia of the application, and the Attorney General for the District of Columbia shall be given an opportunity to be heard.\n(3)\nTo the extent practicable, any modification shall be made in accordance with the donor’s probable intention.\n\n(c)\n(1)\nIf a particular charitable purpose or a restriction contained in a gift instrument on the use of an institutional fund becomes unlawful, impracticable, impossible to achieve, or wasteful, the court, upon application of an institution, may modify the purpose of the fund or the restriction on the use of the fund in a manner consistent with the charitable purposes expressed in the gift instrument.\n(2)\nThe institution shall notify the Attorney General for the District of Columbia of the application, and the Attorney General for the District of Columbia shall be given an opportunity to be heard.\n\n(d)\nIf an institution determines that a restriction contained in a gift instrument on the management, investment, or purpose of an institutional fund is unlawful, impracticable, impossible to achieve, or wasteful, the institution, 60 days after notification to the Attorney General for the District of Columbia, may release or modify the restriction, in whole or part, if:\n(1)\nThe institutional fund subject to the restriction has a total value of less than $50,000, subject to adjustment pursuant to subsection (e) of this section;\n(2)\nMore than 20 years have elapsed since the fund was established; and\n(3)\nThe institution uses the property in a manner consistent with the charitable purposes expressed in the gift instrument.\n\n(e)\nThe dollar amount specified in subsection (d)(1) of this section shall be adjusted to reflect changes in the Consumer Price Index for All Urban Consumers, published by the Bureau of Labor Statistics of the Department of Labor (“Index”), using 2007 as the base year, as follows:\n(1)\nThe dollar amount shall be adjusted as of January 1st of each year if the cumulative percentage of change in the Index, from the base year or from a later year that was the basis of an adjustment of this amount pursuant to this subsection, rounded to the nearest whole percentage point, is in excess of 10%.\n(2)\nThe amount of any adjustment shall be rounded to the nearest $5,000.\n(3)\nThe dollar amount shall not be reduced below $50,000.\n(4)\nNo adjustment to the dollar amount shall occur before January 1, 2009.","path":["Title 44. Charitable and Curative Institutions.","Chapter 16A. Uniform Prudent Management of Institutional Funds."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/44-1635","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"6d0e644be8464f112a666a7012013793efaefe68abae15eaedbc8288d507231d","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-44-1634","next":"us-dc/d.c.-code-44-1636"},"notice":"GroundRules: Original legal text. Not legal advice."}