VENTURE PHILANTHROPY ON A ROLL

David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report: The Internal Revenue Service has approved another venture philanthropy strategy this one for establishing a new business and pre-seed capital fund in an economically depressed area, in conjunction with the local community college. Continuing what appears to be a trend of positive rulings on venture

David T. Leibell and Daniel L. Daniels, principals in Cummings & Lockwood LLC in Stamford, Conn., report:

The Internal Revenue Service has approved another venture philanthropy strategy — this one for establishing a new business “incubator” and pre-seed capital fund in an economically depressed area, in conjunction with the local community college.

Continuing what appears to be a trend of positive rulings on venture philanthropy strategies, in Private Letter Ruling 2006140

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