Increasing Disclosure to Benefit Investors: Hearing Before the Subcommittee on Finance and Hazardous Materials of the Committee on Commerce, House of Representatives, One Hundred Sixth Congress, First Session, on H.R. 887 and H.R. 1089, October 29, 1999, Volume 4U.S. Government Printing Office, 1999 - 107 pages |
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after-tax returns Armand Hammer benefit Berkshire Hathaway bill Buffett calculation capital gains cash contributions Chairman charitable donations charitable giving charitable organizations commenters Commission staff companies disclose companies to disclose company's conflict of interest corporate charitable contributions corporate contributions corporate foundations Corporate Philanthropy cost disclose the total disclosure of charitable disclosure requirements distributions donor Eaton Corporation employees entity Exchange Commission federal securities laws Fidelity Investments Fortune 100 companies Fortune Brands fund investment fund's glossy annual reports impact income Investment Company Investment Company Institute investors issuer issues Item legislation Letter MARKEY mutual fund nonprofit organizations number of pages officer Paul Gillmor percent Philanthropy post-liquidation pre-liquidation private foundations proxy statement public charities recipients Regulation S-K reports discuss requiring disclosure Section Securities and Exchange shareholder proposals shares Subcommittee tax consequences tax deduction tax rates Tax-Exempt Organizations taxable threshold tions transactions Vanguard Vanguard Group websites
Popular passages
Page 92 - Corporations, and any community chest, fund, or foundation, organized and operated exclusively for religious, charitable, scientific, testing for public safety, literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 60 - A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end, and does not extend to a change in the end itself, to the reduction of profits, or to the non-distribution of profits among stockholders in order to devote them to other purposes.
Page 14 - Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.
Page 74 - The materiality of any interest is to be determined on the basis of the significance of the information to investors in light of all the circumstances of the particular case. The importance of the interest to the person having the interest, the relationship of the parties to the transaction with each other and the amount involved in the transactions are among the factors to be considered in determining the significance of the information to investors.
Page 92 - political organization" means a party, committee, association, fund, or other organization (whether or not incorporated) organized and operated primarily for the purpose of directly or indirectly accepting contributions or making expenditures, or both, for an exempt function. (2) Exempt function. The term "exempt function...
Page 60 - It seems to us that just as the conditions prevailing when corporations were originally created required that they serve public as well as private interests, modern conditions require that corporations acknowledge and discharge social as well as private responsibilities as members of the communities within which they operate.
Page 30 - The Investment Company Institute is the national association of the American investment company industry. Its membership includes 7,576 open-end investment companies ("mutual funds''), 479 closed-end investment companies and 8 sponsors of unit investment trusts.
Page 68 - ... in a newspaper having general circulation in the county in which the principal office of the private foundation is located.
Page 81 - ... consistent with the legislative purpose underlying section 14; for it seems fair to infer that Congress desired to make proxy solicitations a vehicle for corporate democracy rather than an all-purpose forum for malcontented shareholders to vent their spleen about irrelevant matters, and also realized that management cannot exercise its specialized talents effectively if corporate investors assert the power to dictate the minutiae of daily business decisions.
Page 71 - The document is posted in a format that, when accessed, downloaded, viewed, and printed in hard copy, exactly reproduces the image of the application or return as it was originally filed with the IRS, except for any information permitted by statute to be withheld from public disclosure.