More Colleges Ask Donors to Pay Pledges Early

Cornell University’s request to one of its top donors, Sanford I. Weill, to pay his $250-million pledge early — and at at a reduced rate — may be a tactic more nonprofit organizations could use to raise much-needed cash in this recession.

Full-text blog post by Kathryn Masterson is available via The Chronicle of Philanthropy, 4.7.09.

Senate Signals Support for Expanding IRA Rollover to Include Life-Income Gifts

The National Committee on Planned Giving reports that the Senate approved its fiscal year 2009 budget resolution (S. Con. Res. 70). The resolution includes language that calls on Congress to reinstate the IRA Charitable Rollover, which expired on December 31, 2007, and expand the provision to allow for life-income agreements, including charitable gift annuities, charitable remainder trusts and pooled income funds. The budget resolution is a non-binding document that sets aggregate spending and revenue targets for the fiscal year beginning October 1, 2008 and outlines broad policy goals.