Sunday, May 5, 2024
Deferred Gifts

3.10.11 Basic Quiz -- Disclosure UT - SEC Exemption
The Philanthropy Protection Act of 1995 was enacted to protect the charitable remainder interest in charitable remainder trusts and pooled income funds.
     True      False
The Philanthropy Protection Act of 1995 imposes upon charities requirements similar to those of investment companies.
     True      False
A disclosure to a donor regarding the operation of the charitable fund should describe the material terms of the operation of such fund.
     True      False
The required disclosure statement can be accomplished by a letter to donors of revocable trusts, which generally can be drafted by the planned giving officer.
     True      False
In the disclosure statement to donors, it is recommended that the charity describe fees associated with the fund.
     True      False
The Philanthropy Protection Act applies to charitable trust trustees only when they are pooling or commingling funds from the various trusts.
     True      False
The Philanthropy Protection Act always applies to charities when they serve as trustee of charitable remainder trusts.
     True      False
The Philanthropy Protection Act requires a specific form upon which to provide the disclosure information.
     True      False
The charity should have its disclosure statement reviewed by the legal counsel of that charity.
     True      False
The information given to the donor needs to assist them in understanding the nature, quality and risk of the various investments.
     True      False



© Copyright 1999-2024 Crescendo Interactive, Inc.