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The core conflict of the perpetual endowment: a foundation is bound by two fiduciary duties — to preserve the corpus and to advance the mission — and the real-terms preservation mandate forces the first to dominate the second, inverting mission primacy into institutional survival. Reframing the fiduciary question moves stewardship from the corpus to the problem.
The fiduciary question shifts from 'stewardship of a corpus over the life of an institution' to 'stewardship of a problem over the life of its resolution.'
PT Sections 2 & 8