To: Jes Stale Erdoes, Mary E
Cc: Boris Nikolic
From: Jeffrey Epstein
Sent: Wed 7/27/2011 11:41:41 PM
Subject: outline
Private Foundation gates /jpm
Valuation for charitable deduction: closely held
stock s corp or c corp. or real estate„
ost Basis Fair Market Value
Valuation of publicly traded securities Fair Market Value Fair Market Value
Income tax deduction -
percentage of AGI, with S year carry over 30% for cash, 50% for cash,
0% for appreciated 30% for appreciated
ssets assets
Excise tax on investment income 1-2% of income No excise tax
le will pay setup.
Set up expense and operations takes money away
jpm operations
from charity,
ime consuming none
IRS approval process
5% None
Annual distribution requirement
need to hire , or use worlds best
Investment options someone elses managers, silos.
Preparation of tax returns, IRS compliance,
Provided by jpm
accounting, grants management, fiduciary Donor must arrange
world s most
oversight, legal and audit , trustees , estate or these services
respected bank
planning
Donor has flexible
options:
*None - All Full recognition,
information is or partial, or full
Confidentiality anonymity
ublicly available via
orm 990-PF
*Private foundations provide little confidentiality. . Today, anyone can access Guidestar
(www.guidestar.orq) to gain information on any private foundation, including a scanned version
of Its 990-PF. Available information includes balance sheet detail (including investment
holdings, a listing of directors (including contact information), every grant that is made
(organization name and amount), and detail of administrative and investment management
expenses.
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EFTA01861427