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The predecessor to UPMIFA, called the Uniform Management of Institutional Funds Act (UMIFA), was approved by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 1972 and was enacted by 47 states. Under UMIFA a charity could spend from an endowment fund up to the amount of appreciation above the historic dollar value (HDV ...
The steps required to become a nonprofit include applying for tax-exempt status. If States do not require the "determination letter" from the IRS to grant non-profit tax exemption to organizations, on a State level, claiming non-profit status without that Federal approval, then they have actually violated Federal United States Nonprofit Laws.
The former Asia Insurance Building was designed by Singapore pioneer architect Ng Keng Siang, the first Singaporean to become a member of the Royal Institute of British Architects. [18] Professionally, Ng was highly respected by the Teochew and Hokkien communities, who previously commissioned him for projects such as the Teochew Association ...
The society must offer benefits to members, which may include life insurance, medical insurance, scholarships, educational programs, travel opportunities, and discount programs. [111] Revenue generated from providing benefits to non-members must be insubstantial to the society and may be taxable as unrelated business income. [112]
The company entered into an agreement to sell its 25.9% stake in Singlife, as well as two debt instruments, to Sumitomo Life Insurance Company for a total cash consideration of SGD1.4 billion (£0.8 billion). The sale is expected to complete in Q4 2023, subject to customary closing conditions and regulatory approvals.
Income Insurance Limited, commonly known as Income and previously also known as NTUC Income, is a composite insurer based in Singapore, offering life, health and general insurance. Initially founded as a cooperative in 1970 under the National Trades Union Congress (NTUC), it was restructured as a public non-listed company limited by shares in ...
Raffles Holdings was the parent company of Raffles International, owned by Temasek Holdings which is the investment arm of the Singapore government. In 2005, Raffles Holdings' hotel business ranked 17th or 18th in the world in terms of market capitalization and number of rooms, all marketed under the Raffles and Swissôtel brand names. [1]
In 2004, PMA sold its insurance properties to PMA Capital Insurance Co. of Blue Bell, Pennsylvania, although PMA Capital retained the company’s name. PMA remained concentrated on events in Pennsylvania until 1925, when it joined the National Industrial Council, part of the National Association of Manufacturers. Although PMA is primarily a ...