The Pension Protection Act of 2006 (PPA), which so radically redefined the rules for supporting organizations, also transformed the rules for donor-advised funds (DAFs). The PPA for the first time accords DAFs express recognition in the Internal...
A new study on high-net-worth philanthropy shows that the rich are different. David T. Leibell and Daniel L. Daniels, partners of Cummings & Lockwood, LLC in Stamford, Conn., report: According to a study released Oct. 26 the Bank of America Study...
Nonprofits, especially those operating or fundraising in multiple states, are under a great deal of pressure these days to maintain compliance with both federal and state regulations. Much of that pressure is fallout from the Sarbanes-Oxley Act of...
David T. Leibell and Daniel L. Daniels, partners in the Stamford, Conn. office of Cummings & Lockwood LLC, report that a recently released Technical Advice Memorandum (TAM) provides a lovely roadmap on how not to administer a charitable remainder...
Real estate has been the fastest appreciating investment for many people during the past several years. With interest rates rising, however, recently there has been a softening of the real estate market in many parts of the country. Some...
There are many strategies that a professional advisor can use to help clients exit from planned gifts. All require a clear understanding of the partial interest rule. PARTIAL INTEREST The general rule is that a gift of a partial interest is not...
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...
From David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., we have this update: The Internal Revenue Service has ruled that a charitable remainder trust's investment in a private equity fund did not...
David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: IRS issues series of rulings ultimately approving CRT termination in unusual circumstances. Did you ever have to make up your mind? Although...
David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: The Internal Revenue Service has approved another venture philanthropy strategy this one for establishing a new business and pre-seed capital...
