Another reason some folks might be holding off on taking distributions is because they are waiting is to see if Congress will reinstate the IRA-Charitable Rollover law, which expired on Dec. 31, 2011 like many other tax extender provisions.
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By law, charitable foundations must conduct exclusively nonpartisan activities that promote the public welfare.
Under Massachusetts law, a charitable trust can deviate from its initial charter, but only if the mission essentially becomes impossible to carry out or runs into unforeseen problems.
It is exceedingly hard to believe that House Representatives and Senators would be willing to look past their own self-interests (read: reelection) and willingly alienate even a small portion of their constituents by permitting, for example, the mortgage interest or charitable contribution deduction to be removed from the law.
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And we're in the process of implementing and expanding charitable choice, the principle already established in federal law that faith- based organizations should not suffer discrimination when they compete for contracts to provide social services.
"A horrible, stupid blunder" is how a University of Baltimore law professor described it, and he was being charitable.
Even in the most central function of government law and order foreigners, albeit for commercial rather than for charitable reasons, are vitally important.
These private foundations are required by law to give away 5% of their assets each year to support charitable causes, like feeding the hungry, protecting the environment and curing disease.
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In support, Camp Moshava contends that the Board has granted tax exempt status to two other charitable organizations that are purportedly similar to Camp Moshava in many material respects and that the Board has erroneously applied the law in granting the exemptions to the other organizations.
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