“Donor” can’t challenge misuse of endowment under UPMIFA

A lawyer who arranged the transfer of settlement funds in a class action case into an endowment at St. John’s University in Minnesota has no standing to contest the University’s alleged failure to comply with conditions of the gift under the Uniform Prudent Management of Institutional Funds (“UPMIFA”), a state appellate court has ruled. It is the lawyer’s second defeat in trying to enforce guidelines for administering a Fellowship in Ethics that he had negotiated with the University.