Private Foundation Investments Program-Related Investments: A User-Friendly Guide
Author: David S. Chernoff, Esq..
Source: Volume 05, Number 01, November/December 2005 , pp.3-7(5)
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Abstract:
Since the time of the English Common Law, trustees, executors, and other fiduciaries holding or managing money or property for the benefit of third persons have been subject to personal liability if they made truly bad investments with those assets. In 1969, this concept found its way into the Internal Revenue Code’s then new “private foundation rules.”Keywords:
Affiliations:
1: John D. and Catherine T. MacArthur Foundation.