Don't forget the tax man

With all the blogging of late about investment policies and what constitutes fiduciary responsibility for foundation boards, let us not forget the power of the bluntest of all tools - regulation.

Today's Wall Street Journal has a story on the increased scrutiny the 2006 Pension Protection Act requires of donor advised funds. The million (billion) dollar question, of course, is what effect will these regulations have on donors? Time will tell.


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