GIVE & TAKE

[ Net-Income From Charity ]

                        by

EDWARD MICHAEL O'BRIEN

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I)     INTRODUCTION

II)     WHAT YOU NEED TO KNOW

III)     INTELLECTUAL PROPERTY STATEMENT

IV)     GIVE & TAKE

A)     DONATION-REDEMPTION-DISPOSITION

B)     STOCK OPTIONS DONATED, SOLD AND EXERCISED
          BY THIRD PARTY

C)     HEDGE STOCK PERFORMANCE WITH NQSO

D)     RELATED FOUNDATION BUYS STOCK ON MARGIN

E)     FORGIVENESS OF REDEMPTION DEBT OK

F)     RECEIPTS OF DEPOSIT

G)     THE SAVIORG BARGAIN SALE

H)     PARTIAL, UNDIVIDED PROPERTY DONATIONS

 I)     REMAINDER INTEREST DONATIONS

J)     AIR-RIGHTS DONATIONS

K)     MOTION PICTURE: LETTER OF CREDIT DONATIONS

L)     MOTION PICTURE COMPANY: REDEMPTION

M)     YACHTS & PLANES BARGAIN SALE

N)     SALE OF CONTRIBUTED PROPERTY BACK TO DONOR

O)     PREARRANGEMENT OF DONEE'S DISPOSITION

P)     NOT DEBT FINANCED INVESTMENT

Q)     CORP BUILDS UP RELATED   FOUNDATION

R)     REIT IS RIGHT

S)     BARGAIN SALE AMORTIZATION VIA VACATION RENTALS

T)     DOWNSIZED BUT NOT DOWN & OUT

U)     GIVE: GET YOUR MONEY BACK: BUILD FOUNDATION

V)     TAX-FREE DIVERSIFICATION USING ESOP, L.P. AND CHARITY

W)     DONOR'S INSURANCE

X)     BUY STOCK ON 75% MARGIN

Y)     DONATION OF S-CORPORATION STOCK

Z)     REIT LOOPS

AA)     REIT CONTROLS AIR-RIGHTS   DONATION:
            DONOR LEASES BACK

BB)     DOUBLE DEDUCTIONS

CC)     NON-PROFIT WORKS PRIMARILY THRU A FOR-PROFIT

DD)     INVENTORY DONOR GETS BASIS     PLUS 50% FMV

EE)     A SECOND PARTY REDEEMS DONATED STOCK

FF)     AUCTION TRIGGERED BARGAIN-SALE-BACK

GG)     BARGAIN SALE-LEASEBACK-  RESIDUAL SALE

APPENDIX 1

I. (A),     DONATION-REDEMPTION-DISPOSITION
I. (B):

I. (C) :     DOUBLE DEDUCTIONS

I. (D) :     NON-PROFIT WORKS PRIMARILY AS A FOR-PROFIT

I. (E) :     INVENTORY DONOR GETS BASIS PLUS ONE-HALF
                PROJECTED GAIN

I. (F) :     AIR-RIGHTS DONATIONS

APPENDIX 2 :

II. (A) :     AIR-RIGHTS DONATIONS     (continued)

APPENDIX 3 :

III. (A) :     CAPITAL GAIN TRUST INCOME

III. (B) :     STOCK OPTIONS DONATED, SOLD AND EXERCISED
                   BY THIRD PARTY

III. (C) :     MOTION PICTURE: LETTER OF CREDIT DONATIONS

APPENDIX 4 :

IV. (A) :     MOTION PICTURE: LETTER OF CREDIT DONATIONS

APPENDIX 5 :

V. (A) :     STOCK OPTIONS DONATED, SOLD AND EXERCISED
                  BY THIRD PARTY

V. (B) :     TAX-FREE DIVERSIFICATION USING ESOP, L. P.,
                  AND CHARITY

V. (C) :     INTRODUCTION

APPENDIX 6 :

VI. (A) :     BARGAIN SALE DONATIONS

VI. (B) :     REMAINDER INTEREST DONATIONS

VI. (C) :     RECEIPTS OF DEPOSIT

APPENDIX 7 :

VII. (A) :     SELF DEALING

APPENDIX 8 :

VIII. (A) :     SELF DEALING (continued)

APPENDIX 9 :

IX. (A) :     TAXATION OF EXCESS BENEFITS

IX. (B) :     PUBLIC CHARITY DEFINED

Part I

Part II

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