CHARITABLE DISINCENTIVESCHARITABLE DISINCENTIVES
David T. Leibell and Daniel L. Daniels of Cummings & Lockwood in Stamford, Conn., take a closer look at the Pension Protection Act's provisions on charitable giving and warn that the PPA signed into law by President Bush on Aug. 18, includes sweeping reforms but very limited incentives for giving to charity. All charities should take note of these provisions, they say. For some, the PPA will mean
September 1, 2006
Rorie M. Sherman Editor in Chief
David T. Leibell and Daniel L. Daniels of Cummings & Lockwood in Stamford, Conn., take a closer look at the Pension Protection Act's provisions on charitable giving and warn that the PPA signed into law by President Bush on Aug. 18, includes sweeping reforms but very limited incentives for giving to charity. All charities should take note of these provisions, they say. For some, the PPA will mean a fundamental change in the way they do business.
Title XII of the PPA has two sections relating to exempt organizations: One deals with charitable-giving incentives; the other section, with reforming exempt organizations. The reform provisions are far more sweeping than those regarding charitable giving incentives...
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