Tax Exempt Foundations and Charitable Trusts: Hearings, Ninety-third Congress, First Session ...U.S. Government Printing Office, 1978 - 293 pages |
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activities addition administration amount annual ANNUNZIO answer assets audit bill BLACKBURN BUNDY California Center CHAIRMAN charitable foundations charitable organizations charitable trusts Congress contributions corporation costs court CRANE December 31 deduction Delaware Corporation directors donor expenses Federal filed Ford Foundation Foundation's FRENZEL funds GEORGE GETTYS GOHEEN GREENFIELD Hartford Foundation HENKEL hospitals Howard Hughes Medical Hughes Aircraft Company Hughes Medical Institute Hughes Tool Company Illinois income Institute's interest Internal Revenue Code Internal Revenue Service investment Irvine Company Key District legislation market value medical research ment million MINTZ MULREANY operating payout percent private foundations PRIVETT problems Public Citizen question record REES regulations responsibility RINALDO RUMPH self-dealing shares staff STANTON STARK statement subcommittee supervision Tax Reform Act tax-exempt taxpayers Thank THORN tion Treasury trust instrument trust law
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Page 160 - ... for the year then ended. Our examination was made in accordance with generally accepted auditing standards, and accordingly included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances. In our opinion, the accompanying balance sheet and statement of...
Page 13 - I would like to thank you Mr. Chairman, and the members of the subcommittee, for the opportunity to appear before you today.
Page 66 - Activities which constitute participation or intervention in a political campaign on behalf of or in opposition to a candidate include, but are not limited to, the publication or distribution of written or printed statements or the making of oral statements on behalf of or in opposition to such a candidate. (iv) An organization is an "action...
Page 127 - ... an organization which is operated, supervised, controlled, or principally supported by a religious organization (other than a trust) which is itself not subject to the provisions of this section...
Page 259 - Hon. WRIGHT PATMAN, Chairman, Committee on Banking and Currency, US House of Representatives, Washington, DC DEAR MR. CHAIRMAN : Enclosed for your consideration is a study entitled "Oil Imports and Energy Security : An Analysis of the Current Situation and Future Prospects.
Page 2 - Treasury of the amounts, referred to in paragraphs ( 1 ) and (2), received in the Treasury. Proper adjustments shall be made in the amounts subsequently transferred to the extent prior estimates were in excess of or less than the amounts required to be transferred.
Page 2 - FEDERAL HOSPITAL INSURANCE TRUST FUND "SEC. 1817. (a) There is hereby created on the books of the Treasury of the United States a trust fund to be known as the 'Federal Hospital Insurance Trust Fund' (hereinafter in this section referred to as the 'Trust Fund').
Page 127 - ... directly engaged in the continuous active conduct of medical research in conjunction with a hospital, and during the calendar year in which the contribution is made such organization is committed to spend such contributions for such research before January 1 of the fifth calendar year which begins after the date such contribution is made.
Page 217 - Sec. 508 (d) (e) of the Internal Revenue Code, added by the tax Reform Act of 1969 (Public Law 91-172), provides that certain charitable trusts and corporations which are treated as "private foundations" will lose their right to full deduction for charitable contributions, as well as their exemption from Federal income tax unless their governing instruments (ie, corporate charter...
Page 2 - Trustees to — (1) Hold the Trust Fund; (2) Report to the Congress not later than the first day of March of each year on the operation and status of the Trust Fund during the preceding fiscal year...