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Dan Felix takes a deeper look at the need for a responsive and active trustee. The refinement of the trustees role, the need for responsiveness and wise guidance make it clear that trustee selection is as important as good trust creation.

What advisors need to know about NIMCRUTs

Last time, we discussed trust-planning blind spots and ways to solve complex trust matters. Here, we'll look at how a very successful and very charitable client established...

How an ounce of prevention may provide tons of cure

As we discussed in Part One of this article, philanthropy adds a complex dimension to affluent families' long-term wealth and tax planning, and we explored the use...

What advisors need to understand about CRTs, CLTs and fiduciary responsibility

The creation of an estate plan is a fundamental necessity for families, especially for families of wealth. And while there are many elements that contribute to the ultimate success of the plan, the selection of the appropriate trustee is often given little...

10 Dec 2012 | Investing | National Publication | Article

Recently issued proposed Treasury regulations create an important, but urgent planning opportunity for charitable remainder trusts. The regulations provide that income received by a CRT before the end of the year will not be subject to the 3.8% medicare surtax when...


Current law permitts the filing of Form 990 by paper or electronic means. In this article, Dennis Walsh, CPA makes the argument for requiring that e-filing of Form 990 be made mandatory.


The Uniform Prudent Management of Institutional Funds Act (UPMIFA), now enacted in 49 states, has created a new landscape for the administration of charitable endowments. In this article North Carolina CPA Dennis Walsh discusses how planned giving professionals and...


The Internal Revenue Service today announced that approximately 275,000 organizations under the law have automatically lost their tax-exempt status because they did not file legally required annual reports for three consecutive years. The IRS believes the vast...

24 May 2011 | Compliance | National Publication | News story

The IRS has issued e-mail advice that a taxpayer who makes a charity gift and fails to obtain a contemporaneous written acknowledgment from the charitable donee cannot claim an income tax charitable deduction even if the donee subsequently files an...

24 May 2011 | Compliance | National Publication | News story

The IRS has revoked the exempt status under section 501(c)(3) organization based on the facts the organization failed to produce documents to establish it was operated exclusively for exempt purposes and that no part of its net earnings inured to the benefit of...

23 Jun 2010 | Practice | National Publication | News story

More and more donors of charitable gifts are specifying the exact use to be made of the gift. The donor has a vision about the charity’s use of the donated assets. But what happens if the donor’s specific gift purposes are no longer viable or even needed...

19 Feb 2010 | Compliance | National Publication | News story | 1 comments
According to a Live Discussion hosted by the Chronicle on Philanthropy, "Now that charities are required to fill out a new version of the Form 990 -- the informational tax return that organizations file each year with the Internal Revenue Service -- some...
26 Mar 2009 | Compliance | National Publication | Article | 7 comments
When New York real estate magnate Leona Helmsley died in 2007, she made it clear the majority of her estimated $5 billion estate was to be used for the care and support of dogs via the Helmsley Foundation. However, a New York Surrogate
4 Mar 2009 | Management | National Publication | News story
According to an article in Forbes, the National Heritage Foundation wired $1 million to affiliate, Congressional District Programs Inc., just two days before filing for bankruptcy, keeping the money, at least for the time being, out of the potential reach of NHF's...
9 Jan 2008 | Investing | National Publication | News story
In a January 7 news release, Yale University has announced its decision to increase the payout from its $22.5 billion endowment fund during the upcoming fiscal year by 37% to an estimated $1.15 billion. The distributions will be used to expand student financial aid,...
8 Feb 2007 | Governance | National Publication | News story | 4 comments
The Internal Revenue Service has released a draft that suggests that 501(c)(3) organizations review and consider helping ensure that directors understand their roles and responsibilities and actively promote good governance practices.
7 Feb 2007 | Ethics | National Publication | News story
In a Notice of Intent filed on November 28, 2006, the Office of Securities for the State of Maine in conjunction with the Maine Attorney General's office is seeking to revoke the license of a registered representative who allegedly compelled his elderly client to name...
22 Jan 2007 | Compliance | National Publication | News story
The IRS has stated informally that Form 5227 for the 2006 tax year will not be released until the first week of February at the earliest. Trustees may desire to notify trust income beneficiaries of the delay.
23 Jun 2005 | Governance | National Publication | News story | 1 comments
In a June 22 statement, Senate Finance Committee Chair Chuck Grassley, R-Iowa, praised the Panel on the Nonprofit Sector for its final report, particularly for its recommendation for minimum payouts for donor-advised funds, and he said the report would be put to use in...
23 Jun 2005 | Governance | National Publication | News story
A Panel on the Nonprofit Sector report on recommendations to improve nonprofits will serve as "invaluable guidance" as the Finance Committee considers new legislation on charitable governance, Committee ranking minority member Max Baucus, D-Mont., said in a June 22...
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Recent activity

Charitable Planning CSI Style - Dissecting A Tax Return

Charities in Financial Distress: The Impact of Bankruptcy on Donor-Restricted Funds

Randy Fox Interviews Sue McEntee of Charitable Giving Resource Center on Non-Profit Succession Planning

Selecting your Trustee - Tasks and Attributes

Heard on the Web: Make Sure Your Board Complies With the New Form 990

A "Troublesome" Choice for the Helmsley Foundation?

ACGA and NCPG Condemn Sales Commissions on Gift Annuities

Understanding And Drafting Nonprofit Gift Acceptance Policies