January 28, 1999
Officials of Funds That Invite Donors' Advice Brace for Federal Scrutiny
Community foundations and similar organizations are bracing for Congressional scrutiny of their operations -- and are working hard to head off new restrictions that they say would throw cold water on what has become a very hot giving technique.
Key Congressional staff members have been holding informal talks with community-foundation leaders and others on possible changes to the rules that govern so-called donor-advised funds.
Those funds enable donors to turn over cash and
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