Read this NY Times article about a man who passed away with no will, no heirs, and $40 million+ in his name: http://www.nytimes.com/2013/04/28/nyregion/holocaust-survivor-left-an-estate-worth-almost-40-million-but-no-heirs.html. It is an incredibly sad story on several fronts – not to mention that the entire fortune might end up going to New York State! …whatever money is remaining from Mr....
I was taught by a college professor to avoid cliches but sometimes they are so right on target, there’s no better way to express an idea. The following article from Fundraising Success Magazine (thanks to Greg Warner for posting it on Linkedin) is about how the American Cancer Society is beginning to undo its direct...
I have been closely following various proposals impacting nonprofits since the late 1990s. So, based on lots of experience, I can tell you right now that Presidential budget proposals in particular give me very little reason for concern (President Obama’s even more so). These budgets proposals go nowhere. Yet, it is disappointing again to report...
We all know that regular IRAs (as well as any qualified retirement account) hold “pre-tax” funds. This means that income taxes have not been assessed to these funds or any subsequent investment growth in the account. Either you pay income tax on funds withdrawn while you are alive or someone (your estate, spouse or heir)...
$6.7 Million Bequest from 1891 Alumni (1891, not 1991) received by McDaniel College!