March 7 marks the 1-year anniversary of the effective date of the disclosure provisions of the Philanthropy Protection Act of 1995. The purpose of the act was to facilitate contributions to charitable organizations by codifying certain exemptions from federal securities law based largely on the existing agency positions of the Securities Exchange Commission (SEC). The PPA …Read More

In December 1996, the Internal Revenue Service released regulations that provide guidance for allowing various charitable contribution deductions, substantiation requirements for charitable contributions of $250 or more, and the disclosure requirements for quid pro quo contributions in excess of $75. These final regulations clarify various questions raised by provisions of the Omnibus Budget Reconciliation Act …Read More