The National Committee on Planned Giving has released standards for determining the value of all types of planned gifts to charitable organizations. Unlike present value computations for income, gift and estate tax compliance purposes, the new valuation standards are intended to help charitable organizations and donors understand the value of irrevocable and revocable planned gifts in terms of their present purchasing power.

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Do you have a gift acceptance policy? Most nonprofit organizations do not have such a policy adopted until after the fundraising program is in place. This article by Kathryn W. Miree, Esq. will give the reader a greater understanding of the purpose of, as well as how to draft and adopt, gift acceptance policies.

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A new report, "Foundation Trustees: Uses and Abuses," by the Center for Public and Nonprofit Leadership at the Georgetown University Policy Institute reveals that some private foundations are paying large fees to their trustees to the exclusion of the charitable causes they support.  MORE »

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.  MORE »

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, recruit students of modest means, and, possibly, expand the size of Yale's undergraduate student body. Sen. Grassley, in a separate statement, praised the decision pointing out that Americans subsidize endowments by tax-exemption and, therefore, deserve a public benefit in return.  MORE »

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 him trustee of her estate, amend her living trust to establish a testamentary foundation account at the National Heritage Foundation, and then after her death sold a tax deferred variable annuity to the account in violation of NASD rules and Maine securities law and/or ethics rules.  MORE »

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.  MORE »

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 drafting legislation to reduce abuse among charities.  MORE »

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 release.  MORE »

A working group of more than 40 charitable sector organizations under the leadership of the Council on Foundations has developed eight Principles of International Charity as an alternative to Treasury guidelines on preventing the diversion of charitable assets to terrorist activity.  MORE »