The title says it all! In this edition of Gift Planner's Digest, Long Beach Memorial Medical Center Foundation's Jim Normandin shares his experiences in the use of the bargain sale as a means to help donors accomplish their personal and philanthropic planning objectives.  MORE »

On Friday, June 8, 2001, members of the National Committee on Planned Giving and other interested parties testified at an IRS hearing about the proposed regulation revisions regarding the definition of income under section 643(b) to take into account changes in the definition of trust accounting income under state laws. The PGDC has obtained a copy of the written comments submitted by NCPG in advance of the meeting as well as selected excerpts from the hearing.   MORE »

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It has been said that one should always look a "gift-house" in the mouth … well, something like that. In this edition of Gift Planner's Digest, Laura H. Peebles from the national office of Deloitte & Touche reviews the tax issues that surround charitable gifts of debt-encumbered property.  MORE »

Just when you thought the year-end tax planning season might come to a close without hearing of any shady charitable tax avoidance schemes, it appears one has come back to life-- the "Taxable CRT." In this final edition of Planned Giving Online for 2001, PGDC Editor-in-Chief Marc D. Hoffman describes this plan and why prudent gift planners will want to avoid it.  MORE »

For purposes of determining the present value of an annuity, an interest for life or a term of years, or a remainder or a reversionary interest, Revenue Ruling 2002-2 indicates the charitable mid-term federal rate under Code Section 7520 for the month of January is 5.4%. In addition, the deemed rate of return for transfers during 2002 to pooled income funds that have been in existence for less than 3 taxable years is 6.6%.   MORE »

When a donor makes a gift of "restricted" or "non-publicly traded" stock to a charity, complex issues arise that may not be present if the gift is one of "publicly traded" stock. In this issue of Gift Planner's Digest, New York attorneys Jennifer Franklin and David Shevlin discuss the issues involved in donating restricted stock from both the donor's and the charity's perspectives. In particular, this article discusses the timing considerations of making a gift of restricted stock that are especially relevant as the year-end quickly approaches.  MORE »

For several years now, the Service has discontinued issuing rulings on the qualification of one or two-life charitable remainder trusts. In this ruling, the Service approves a five-life NIMCRUT with both joint-and-survivor and consecutive income recipients and provides the deduction factor.   MORE »

The Service has ruled privately that a supporting organization that exists for the benefit of two nursing homes can market a program that provides priority admission to the nursing home or assisted living facility for donors (and their family and friends) who enter into charitable gift annuity agreements with the organization or name it as beneficiary of a charitable remainder trust.   MORE »

In field service advice, the IRS has concluded it needs more information to determine whether taxpayers may deduct a contribution of a portion of their cooperative housing shares and a proprietary lease to rent their cooperative apartment to a public charity. This is must reading for beginning gift planners and great review for experienced planners alike as this 35-page document provides concise descriptions and case law regarding the partial interest rule, assignment of income and step transaction doctrines, valuation issues, and application of the Section 121 capital gain exclusion.   MORE »