In todays new york times it was reported that 433,333 stock options in
Dick Cheney's name from the Haliburton Comapny are being held in a
"charitable trust."  I am seeking information on that trust; what is
it's stated purpose, who makes up its governing structure, and what
are the total assets of the trust? (link to article
http://www.nytimes.com/2003/09/17/politics/17CONG.html?th)

---

Request for Question Clarification by pafalafa-ga on 17 Sep 2003 15:28 PDT

The stock options were donated by the Vice President to three
charitable organizations through a complicated gift administration
agreement.  Mr. Cheney's financial disclosure statement says the
options have been "irrevocably assigned to charity."

If you'd like, I can identify the three charities involved, and
provide links to additional information.  I cannot, however, provide
details of governing structure, total assets, and the like.

Let me know if this would suffice as an answer to your question.

pafalafa-ga

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Clarification of Question by henryjust-ga on 18 Sep 2003 07:32 PDT

The names and mission statements of the three charitable orgs would be
great.  Sorry I could not get back to you yesterday, thanks for your
timely response.

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Request for Question Clarification by pafalafa-ga on 18 Sep 2003 07:45 PDT

I'm afraid I dont have the mission statements of the charities, and I
don't want to provide an answer that would be less than you hoped for.

pafalafa-ga

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Clarification of Question by henryjust-ga on 19 Sep 2003 07:58 PDT

whatever information you have on the trusts would be appreciated.

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Request for Question Clarification by pafalafa-ga on 19 Sep 2003 09:28 PDT

Hello henryjust-ga,

Sorry for the delay in getting back to you.  I live in Washington DC
(not far from the Veep's residence!) and the hurricane knocked out our
power for quite a while there.

I've posted below the information on the Cheneys' tax returns and
charitable giving.  Let me know if you need any additional
information.

pafalafa-ga

---------------------------

http://www.whitehouse.gov/news/releases/2001/04/20010413-5.html

Vice President and Mrs. Cheney Release 2000 Income Tax Return 


...In addition to $41,646 contributed by the Cheneys to charities,
they gifted the benefit of all their remaining stock options, having a
value of approximately $7,800,000, to three charities.  The charities
chosen by the Cheneys are Capital Partners for Education, which
provides educational assistance to low-income high school-age children
in the Washington, D.C. area, George Washington University Medical
Faculty Associates, also in Washington, D.C., and the University of
Wyoming in their home state. Because the options themselves were not
transferable, the gift was made through a gift administration
agreement.  The gift administrator is to exercise the options and
donate all proceeds, after payment of taxes payable because of the
exercise of the options, to the charities.  The options contributed
were certain options in Halliburton Company and other companies that
the Cheneys had received as compensation for employment or for service
on boards of directors.  The estimated value of the options is reached
by using valuation methods approved by the Internal Revenue Service
for valuing options when given away as gifts.

---

The press release also notes that:

FOR MORE INFORMATION CONTACT
Terrence O'Donnell
of Williams & Connolly LLP
(202) 434-5678 

You may want to give them a call.

-------------------------

Additional information about the Cheney's 2001 and 2002 tax returns
can be found at:

http://www.whitehouse.gov/news/releases/2002/04/20020415-7.html

http://www.whitehouse.gov/news/releases/2003/04/20030411-8.html

-------------------------

At this site:

http://www.opensecrets.org/pfds/N00006237.asp

you can find Personal Financial Disclosure forms filed by Dick Cheney
for 2000 and 2001.  These provide detailed overviews of the Cheney's
holdings and income.


I hope the information here is what you needed.  If anything is
unclear, of if you need additional information, just let me know by
posting a Request for Clarification.  I'll be glad to assist you
further.

[I meant to post the above as my answer to your question...first time
I've ever accidentally posted an answer as a "Request for
Clarification"!!!]

Request for Question Clarification by pafalafa-ga on 19 Sep 2003 09:28
PDT
Hello henryjust-ga, 
 
Sorry for the delay in getting back to you.  I live in Washington DC
(not far from the Veep's residence!) and the hurricane knocked out our
power for quite a while there.
 
I've posted below the information on the Cheneys' tax returns and
charitable giving.  Let me know if you need any additional
information.
 
pafalafa-ga 
 
--------------------------- 
 
http://www.whitehouse.gov/news/releases/2001/04/20010413-5.html 
 
Vice President and Mrs. Cheney Release 2000 Income Tax Return  
 
 
...In addition to $41,646 contributed by the Cheneys to charities,
they gifted the benefit of all their remaining stock options, having a
value of approximately $7,800,000, to three charities.  The charities
chosen by the Cheneys are Capital Partners for Education, which
provides educational assistance to low-income high school-age children
in the Washington, D.C. area, George Washington University Medical
Faculty Associates, also in Washington, D.C., and the University of
Wyoming in their home state. Because the options themselves were not
transferable, the gift was made through a gift administration
agreement.  The gift administrator is to exercise the options and
donate all proceeds, after payment of taxes payable because of the
exercise of the options, to the charities.  The options contributed
were certain options in Halliburton Company and other companies that
the Cheneys had received as compensation for employment or for service
on boards of directors.  The estimated value of the options is reached
by using valuation methods approved by the Internal Revenue Service
for valuing options when given away as gifts.
 
--- 
 
The press release also notes that: 
 
FOR MORE INFORMATION CONTACT 
Terrence O'Donnell 
of Williams & Connolly LLP 
(202) 434-5678  
 
You may want to give them a call. 
 
------------------------- 
 
Additional information about the Cheney's 2001 and 2002 tax returns
can be found at:
 
http://www.whitehouse.gov/news/releases/2002/04/20020415-7.html 
 
http://www.whitehouse.gov/news/releases/2003/04/20030411-8.html 
 
------------------------- 
 
At this site: 
 
http://www.opensecrets.org/pfds/N00006237.asp 
 
you can find Personal Financial Disclosure forms filed by Dick Cheney
for 2000 and 2001.  These provide detailed overviews of the Cheney's
holdings and income.
 
 
I hope the information here is what you needed.  If anything is
unclear, of if you need additional information, just let me know by
posting a Request for Clarification.  I'll be glad to assist you
further.

Hi Henry

In general, when someone takes public office, all their
assets are placed in trust, with an independent third
party managing them. 

The idea is to prevent our politicians from engaging in
activities to increase their own wealth and to discourage 
conflicts of interest in their decision making. 

Sometimes, it actually works.

Your TaxMama-ga

There is a fundemental difference between assets being held in trust
and being given to charity.  Assets in trust are still the property of
the individual they jsut don't make investment decisions, and infact
are not supposed to where the funds are invested and even how they are
performing.  I think Cheney's shares have been given to charity, I am
interesteed in finding out how much control he still has over those
funds.

HA