Battered Nonprofits Seek to Tap Nest Eggs

Joe Baerlein, a Brandeis spokesman, says much of the Brandeis endowment is under water because it was founded in 1948, making it relatively young for a top-tier university. But Mr. Baerlein says the school doesn't want to spend endowment principal. "You want to deal in a prudent manner with any deficit," he says. Brandeis hasn't joined the effort to ease endowment restrictions but is reviewing the Massachusetts legislation.