Word: trusts
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Dates: during 1960-1969
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...correlative to claiming tax advantage through the formation of a foundation is the acceptance of the highest trust obligation to the public purposes for which the foundation is formed. In California, that means you can't have your cake and eat it too. It means that assets placed in a foundation must be used for public purposes and not for the benefit of the donor or founder. It means that the ABC plan can't work. It means that the individual who operates his foundation as taught by ABC faces the loss of both his foundation...
...Under a new accounting system that includes all federal outlays and receipts, including for the first time those from social security, Medicare, highway funds and other trust funds. Under the old system, by contrast, expenditures under the last budget were listed at $147.5 billion rather than $175.6 billion...
They have found a champion in James Biddle, 38, new president of the National Trust for Historic Preservation, whose office receives up to 15 "major" requests for help each week. They come from adversaries of imminent threats, such as a freeway that would desecrate the waterfront of New Orleans' Vieux Carré, and advocates of quixotic quests, such as preserving the Warrensburg, Mo., courthouse, where in 1870 George Graham Vest voiced his Eulogy...
...City home, Frank Lloyd Wright's Chicago houses, the Spanish architecture of Santa Fe, Seattle's Pioneer Square, Old Salem, N.C., or even the sod hut that was once a post office in Killdeer, N. Dak. From its Washington headquarters in Decatur House, Biddle's National Trust not only acts as catalyst for such projects but also runs nine landmarks...
...joining forces, small foundations can assume considerable girth. Such combines are known as community foundations. The New York Community Trust, one of the larger examples, represents 209 separate foundations with a total value of $65 million. Another rapidly expanding variety is the corporate foundation, set up by individual private industries and supported out of their profits largely for the purpose of giving the company a good name where good causes are concerned...