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Lifeworks is a nongovernmental not-for-profit organization that recently received a large gift from a donor in the amount of $5,000,000 in cash. The donor wishes
Lifeworks is a nongovernmental not-for-profit organization that recently received a large gift from a donor in the amount of $5,000,000 in cash. The donor wishes to leave a legacy and therefore specified that lifeworks cannot spend the $5,000,000 but can invest the $5,000,000 and use any earnings from the investments to support the organization. In the first year, $400,000 was earned and designated by the board to be spent for general operations, but has not yet been spent. How would
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