Florida Statute 617.2104
“Florida Uniform Prudent Management of Institutional Funds Act”
What it means
Florida's UPMIFA tells charitable institutions how to manage restricted and endowment funds: act in good faith, with the care an ordinarily prudent person would use, and appropriate or accumulate what is prudent given the fund's purposes, duration, economic conditions, and returns.
Subsection (6) says how a restriction is undone: with the donor's consent in a record; without it, by a circuit court with notice to the Attorney General where the restriction is impracticable or wasteful, or the purpose has become unlawful or impossible. Narrow self-help exists for funds of $100,000 or less whose donor is dead, disabled, unavailable, or unidentifiable — and, after written notice to the Attorney General, for funds of $100,000–$250,000 more than 20 years old.
- Standard of conduct: good faith, with the care of an ordinarily prudent person in a like position.
- Donor consent in a record releases or modifies a restriction — never into a noncharitable use (§617.2104(6)(a)).
- Board self-help for funds of $100,000 or less when the donor is dead, disabled, unavailable, or unidentifiable (§617.2104(6)(b)).
- Funds of $100,000–$250,000 and 20+ years old: release after written notice to the Attorney General (§617.2104(6)(c)).
- Otherwise a circuit court modifies, with the Attorney General notified — including purpose changes consistent with the donor's charitable intent (§617.2104(6)(d)–(e)).
How it plays out
Restricted gifts outlive donors, and this statute decides who can loosen them afterward. When we plan charitable bequests the practical advice tracks the statute: put the purpose in the gift instrument, not just the mechanism, because a court that modifies must stay consistent with the donor's charitable intent. Thresholds matter too — under $100,000, the charity's own board can rework a restriction once the donor is gone; above $250,000, it takes a judge and the Attorney General.