On March 9, 2006, I attended a Northern California Planned Giving Council luncheon meeting featuring Jane Peebles and a discussion of International Giving. Ms. Peebles, a partner in Bingam McCutchen’s estate planning group, is a leading legal expert in the area of international philanthropy. Here are some of the...
FUNDRAISING & CHARITABLE GIVING
Wealth in Families: Asking the Essential Questions – March 7, 2006
I attended the Peninsula Community Foundation’s program entitled "Wealth in Families: Asking the Essential Questions" on March 7, 2006. The keynote speaker was Charles Collier, Senior Philanthropic Advisor at Harvard University and a nationally recognized expert in family philanthropy. Although his program was directed at advisors to wealthy families,...
Vehicle Donations
IR-2005-149, December 22, 2005 WASHINGTON – Internal Revenue Service officials today reminded taxpayers that they must obtain a charity’s written acknowledgment of their vehicle donation before they claim a deduction for their donation. For deductions of more than $500, the taxpayer is required to attach the acknowledgment to the...
Giving Circles
A giving circle is a pooled fund from which its donors make grants. In its simplest structure, the collaborative effort may be an informal, one-time pooling of funds to support a particular cause. A giving circle may also take on a more formal structure with a large number of...
Charitable Trust Doctrine
The charitable trust doctrine requires that a gift accepted by a charitable organization must only be used for the expressly declared charitable purposes of the donee corporation at the time of the acceptance, even if the corporation changes its purpose, transfers those assets or dissolves. Such restriction is imposed...
Katrina Emergency Tax Relief Act
On September 23, 2005, President Bush signed into law the Katrina Emergency Tax Relief Act (KETRA), which includes the following tax breaks to encourage donors to give to hurricane-relief efforts: * Individuals will be allowed to deduct up to 100 percent of their adjusted gross income for any charitable...
Donor Standing to Sue to Enforce Terms of Donation – L.B. Research and Education Foundation v. The UCLA Foundation
In L.B. Research and Eduction Foundation v. The UCLA Foundation, 130 Cal.App. 4th 171 (June 14, 2005), the Court of Appeal held that an agreement between L.B. Research and Education Foundation ("Donor") and The UCLA Foundation ("Charity") created a contract subject to a condition subsequent (rather than a charitable...
Charitable Lead Trusts
Charitable Lead Trusts – A Brief Primer A charitable lead trust (CLT) is a split-interest trust in which the income interest is to be paid over to one or more charitable organizations and the remainder interest is to be paid over to one or more noncharitable beneficiaries. The CLT...
International Giving
A donor is not entitled to an income tax deduction for a charitable contribution to a foreign charity. See IRC Sec. 170(c)(2)(A). However, a donor may get an income tax deduction for a charitable contribution to a domestic charity even though all, or some portion, of the donated funds...
Disaster Relief
IRS. Publication 3833, Disaster Relief: Providing Assistance Through Charitable Organizations is the place to start for those interested in disaster relief efforts. One issue that often arises is whether the "charitable class" to be benefited by the charitable organization engaging in disaster relief efforts is large and/or indefinite enough...