April 9, 1998
Treasury, Congress Review Donor Funds
Foundation leaders met last week with government officials to talk about reining in tax-exempt funds set up by for-profit companies.
The foundation officials -- led by John A. Edie, senior vice-president of the Council on Foundations in Washington -- want Treasury officials and lawmakers to consider whether banks and investment companies should be allowed to operate charitable gift funds and under what circumstances. The foundation officials say the so-called
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