December 16, 2012 - January 15, 2013

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Lead Stories

University May Have to Give Up Improper Gift from Trustee

Court allows beneficiary to sue to recover gift given without authority

Court Refuses to Terminate Small Trust for Charities

Trustee’s fees equaling 30% of income were not unforeseen by donor, it says

Receiver Can’t Collect Gift Given As Part Of Ponzi Scheme

College successfully asserts defenses of lack of standing and statute of limitations
To the Point

How do we record receipt of houses from CRT?

Our 501(c)(3) organization is about to receive three houses from a Charitable Remainder Trust now that the donors establishing the trust have both died. We already have a buyer for all three houses. How should we record the distribution from the trust? Is it an in-kind gift? Or is it an unrestricted gift (nothing in the CRT restricts the use of houses)?