(1) Privately supported educational, religious, and charitable organizations perform essential and needed services in the State of Hawaii;

(2) Uncertainty regarding legal restrictions on the management, investment, and expenditure of endowment funds of these organizations may preclude obtaining the highest available return on endowment funds; and

(3) These organizations, their officers, directors, governors and trustees, and the citizens of the State of Hawaii will benefit from removal of this uncertainty and by permitting endowment funds to be invested for the long-term goals of achieving growth and maintaining purchasing power without adversely affecting the availability of funds for current expenditure.