Sadly, it's another case of a rich man manipulating charity for his own benefit.

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The special Katrina legislation allows you to deduct up to 100 percent of your adjusted gross income.

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He still retains the ability to use the assets in a way that may return benefit to him, for instance by making investments at a magnitude his fund might not otherwise be able to make. There may very well be a dollar benefit even if no fees are being paid.

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