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Abstract: 

Foundations have been in the news frequently in recent months, and not always for the good works they perform in their communities. In several previous issues of Family Foundation Advisor we described how newspaper accounts of excessive compensation and other inappropriate behavior last year led to a proposal in the House version of the long-pending charitable incentive legislation (H.R 7., the Charitable Giving Act of 2003) to place limits on the application of foundation administrative expenses toward the 5% minimum distribution requirement.

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