A not-for-profit institution that relies on its endowment portfolio for a significant portion of its operating needs can access debt markets in times of economic recession. should customarily dip into the endowment principal to fund its growth and expanisionmeds. has to carefully budgetits cash flow in order to balance current expenditures with future spending needs. can always rely-upon getting higher eontribotions and donations from its patrons to meet its budgetary shortfalls