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Barry Margolin
Guest
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 Posted:
Fri Oct 21, 2005 8:00 am Post subject:
Re: Can a random private individual set up a charitable trus |
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"Stuart A. Bronstein" <spamtrap@lexregia.com> wrote:
| Quote: | Barry Margolin <barmar@alum.mit.edu> wrote:
"Stuart A. Bronstein" <spamtrap@lexregia.com> wrote:
Barry Margolin <barmar@alum.mit.edu> wrote:
Go to www.charitablegift.org for information about
Fidelity's fund.
The thing I was concerned about is that make deductible
contributions and have them held indefinitely. With larger
Is there something missing from that sentence? Are you
worried about *your* contributions being held indefinitely,
or other contributors'?
Sorry. The thing I was concerned about was that the OP
wants to make deductible contributions but keep them from
actually being distributed indefinitely.
Since donors can't access the funds they contribute, there's
little reason to let them sit indefinitely, so they might as
well make grant recommendations.
But that's exactly what he said he wanted to do, apparently
to put pressure on the intended recipient. However the site
you gave the url for appears to have a large enough fund
that it will be able to make significant contributions each
year. So if an individual donor's contributions are held up
for a while, it should not cause a problem.
|
I had missed the original posting, I just went back and read
it, and I don't think he'd be a problem. He wants to hold
off on donating to a particular charity, but he also said
that if they don't resolve their issues with them they might
decide to give to a different charity. So it doesn't sound
like the donations would be held up forever, just a few
years.
I suspect a private trust would have a hard time with a
policy like this, but a donor-advised fund like CGF, which
combines contributions of thousands of donors, is unlikely
to ever have a problem.
--
Barry Margolin, barmar@alum.mit.edu
Arlington, MA
<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
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Jonathan Kamens
Guest
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| Posted:
Fri Oct 21, 2005 8:00 am Post subject:
Re: Can a random private individual set up a charitable trus |
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"Stuart A. Bronstein" <spamtrap@lexregia.com> writes:
| Quote: | But that's exactly what he said he wanted to do,
apparently to put pressure on the intended recipient.
|
Not exactly. I've already "put pressure on the intended
recipient" by telling them that they won't get another penny
of my money until they start managing their finances better.
I have not told them I'd save up the money that would
otherwise go to them, nor do I intend on telling them that.
But I'd like to do that in the background, because they
really could put the money to good use if only they'd stop
squandering the money they've already got.
Alternatively, if things get so bad that we decide there's
no hope, then we may switch to a different synagogue or even
attempt to start a "break-away" with other like-minded
families. In that case, I would want to be able to
contribute the saved up money to our new place of worship.
<< ======================================================= >>
<< The foregoing is intended for educational purposes only >>
<< and does NOT constitute legal OR professional advice. >>
<< >>
<< The Charter and the Guidelines for submitting >>
<< messages to this newsgroup are at www.asktax.org. >>
<< Copyright (2005) - All rights reserved. >>
<< ======================================================= >> |
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Stuart A. Bronstein
Guest
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| Posted:
Fri Oct 21, 2005 1:34 pm Post subject:
Re: Can a random private individual set up a charitable trus |
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Barry Margolin <barmar@alum.mit.edu> wrote:
| Quote: | I had missed the original posting, I just went back and read
it, and I don't think he'd be a problem. He wants to hold
off on donating to a particular charity, but he also said
that if they don't resolve their issues with them they might
decide to give to a different charity. So it doesn't sound
like the donations would be held up forever, just a few
years.
I suspect a private trust would have a hard time with a
policy like this, but a donor-advised fund like CGF, which
combines contributions of thousands of donors, is unlikely
to ever have a problem.
|
I agree.
Stu
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