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FUNDRAISING & CHARITABLE GIVING
2009 Western Conference on Tax-Exempt Organizations – Day One
I attended the 2009 WCTEO in Los Angeles last Thursday and Friday. It’s always a great conference for professionals in the nonprofit and tax-exempt sector: impressive and knowledgeable speakers, interesting topics, and a chance to meet with peers and people you greatly admire. My only and very...
Increasing Payment Charitable Lead Annuity Trust
A charitable lead annuity trust (CLAT) is an irrevocable split-interest trust in which the income interest is to be paid over to one or more charitable organizations, in the form of an annuity, and the remainder interest is to be paid over to one or more noncharitable beneficiaries. Typically, CLATs...
Charitable Planning Today: Legislative Update Plus – Jerry McCoy
On October 21, 2009, I attended a program of the Northern California Planned Giving Council titled Charitable Planning Today: Recent Developments, Pending and Proposed Legislation, and Other Things You Should Keep in Mind presented by Jerry J. McCoy. Here are some of the highlights: Treasury's report to Congress regarding...
This Ramadan, Give Without Fear (But Give Wisely)
GUEST BLOG POSTThis Ramadan, Give Without Fear (But Give Wisely)By: Mazen Asbahi, Esq. American Muslims face unique and troubling challenges in trying to fulfill their religious obligations to give charity or zakat. The laws meant to serve the legitimate purpose of preventing the diversion of humanitarian aid to terrorist...
The Impact of Giving Circles
According to a May 2009 study, “The Impact of Giving Together: Giving Circles’ Influence on Members’ Philanthropic and Civic Behaviors, Knowledge and Attitudes,” conducted by the University of Nebraska at Omaha, the Forum of Regional Associations of Grantmakers, and the Center on Philanthropy at Indiana University, giving circles contribute...
Charitable Trusts & The Financial Meltdown – Erik Dryburgh
Erik Dryburgh of Adler & Colvin presented a program for the San Francisco Foundation on April 28, 2009 titled "Charitable Trusts and the Financial Meltdown: What to do With Underwater CRTs and Foundations." Dryburgh opened the program describing the scenario as a "philanthropic train wreck." He noted that some...
Donation Policy – Controversial Donations
Nonprofit organizations should not feel obligated or compelled to accept every donation offered; there are donations that may not benefit the organization. A “controversial category” of donations can come in many forms and will often be specific to the organization. Therefore, every nonprofit should have a donation policy in...
Princeton and Robertson Family Donor-Intent Dispute
Generally, a charitable gift given and received for a particular specified purpose may be used for that purpose and none other. Recently, litigation arose over Princeton University's alleged misuse of an endowment associated with the Robertson Foundation, currently valued at about $900 million. The University-designated trustees of the Foundation, who...
Donor Enforcement of Charitable Gift Restrictions: Smithers Case
The court in Smithers v. St. Luke's-Roosevelt Hosp. Ctr., 281 A.D.2d 127 (N.Y. App. Div. 2001) found that beneficiaries have the right to enforce the actual use of a donor's charitable contribution according to his intent, even after his death. In the case, Mr. Smithers left $10 million to...