Comment from Madison Community Foundation

RE: IRS and REG–142338-07 / Request to TESTIFY telephonically at Public Hearing in Connection with Taxes on Taxable Distributions from Donor Advised Funds under Section 4966 Dear Madam or Sir: I request the opportunity to testify telephonically on behalf of Madison Community Foundation at the public hearing regarding the Proposed Regulations on Taxes on Taxable Distributions from Donor Advised Funds under Section 4966 (REG–142338-07). Below is an outline of my testimony at the scheduled public hearing: •The key distinctions between community foundations and other DAF sponsors (3 minutes) •The disparate impact the definition of “advisory privileges” will have on small and medium-sized community foundations (3 minutes) •The disparate burden the proposed compliance requirements will place on community foundations (1 minute) •The disparate impact the proposed compliance requirements specific to “personal investment advisors” will place on community foundations (2 minutes) •The administrative burden the proposed effective date will place on community foundations (1 minute) If you have any questions or would like more information, please do not hesitate to contact me by phone at (608) 232-1763 or by e-mail at bsorge@madisongives.org. Sincerely, Bob Sorge Bob Sorge | President & CEO Madison Community Foundation 111 N. Fairchild Street, Suite 260 Madison, WI 53703 (608) 232-1763 | madisongives.org