Gift

Ray is a friend of mine whose oldest son graduated from college last year. With the holidays approaching, Ray stopped me the other day to ask if I had a way to make a mutual fund gift that would teach his son about investing. Ray describes himself as a "die-hard mutual fund guy," and he said his son knows nothing about funds; at the same time, Ray doesn't just want to give the kid money and hope that he learns something and doesn't blow it all. "How can I give him a gift of mutual funds?"

Philanthropist Dorothy McIlvain Scott's $10 million pledge to the Baltimore Museum of Art continues a long tradition of leadership by women who have helped shape the institution's collections and character. Scott's gift, announced last week, will allow the museum to revitalize its collection of American furniture and decorative arts and support exhibitions and programs in the American wing. With her gift, Scott joins a distinguished company of female philanthropists whose generosity made a strategic difference in the museum's growth and development.

Here's an idea guaranteed not to be on your grandchildren's holiday wish list - a 529 college savings account. Here's a closer look at how grandparents can use 529 plans or two other approaches to help out on college costs: Tax free The most popular approach for helping the grandchildren pay for college is the 529 plan, which allows you to put away money tax-free for higher education expenses. Every state offers at least one 529 option. Maryland has two such plans. Grandparents can set up a 529 account or contribute to an existing plan opened by the grandchild's parents.

WISH LIST 98 Village Square, Village of Cross Keys / / Open 10 a.m.-6 p.m. Monday-Friday; 10 a.m.-5 p.m. Saturday / / 410-323-9101, bbbag.com ........................ THE BRIGHT LIME-GREEN SIGNS on the front doors of Wish List are a pretty good indicator of what you'll find inside; preppy and whimsical gift items in perky colors line the walls of the cozy store, which is the exclusive seller of Bosom Buddy Bags, a line of handbags created by owners Karin Chriss and Andrea Stieff. The retail is fairly eclectic--from initialed pink and green polka-dotted beer cozies to leather slides and one-of-a-kind suede bags adorned with antique handles.

COLLEGE PARK -- The University of Maryland can tell you that its new basketball arena will have 17,100 permanent seats, and that the 4,000 nearest the court will be occupied by students. You can view plans that show a two-level, state-of-the-art arena with 20 luxury suites adjoining practice facilities and offices.Maryland administrators, however, can't say exactly when ground will be broken for the $90 million project. The university must cover half of the cost, and before building can begin, it must secure $25 million in the form of naming rights.

Michael R. Bloomberg, the financial news entrepreneur, has pledged an additional $45 million to the Johns Hopkins University, bringing his contribution to the school's current fund-raising campaign to $100 million, by far the biggest gift in the history of the school."

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q: I'm going to give my son a gift of less than $10,000 in stock for a wedding present in October. What is the cost basis for that gift? Second, if they then immediately sell it, say five days later, what would be their tax consequences in the '98 tax year?A: Generally, the cost basis would be what you paid for the stock. For example, if you bought the stock for $5,000 and on the date of the gift, the stock has a fair-market value of $9,000, your cost basis would be $5,000.

Three years into a capital campaign with a $17.5 million goal, Towson University received three private gifts this week totaling nearly $500,000, which will be used to expand the university's speech and hearing program, enhance teacher education and create a software engineering center.The gifts, from Baltimore Gas and Electric Co., France-Merrick Foundation and Robert W. Deutsch Foundation, bring the total raised to $8 million, with four years remaining in the campaign known as "Enriching Lives."

A Baltimore police officer who received a $100 bill tucked inside a gift card during an awards banquet claims he was demoted to midnight patrol after he returned the money, according to sources familiar with the ethics probe.Officer Kirk D. Noaker, according to police sources, maintains that he was reassigned two weeks after he wrote a report questioning the propriety of accepting a secret cash gift from a powerful neighborhood watch group.A department spokesman confirmed yesterday that three officers received $100 from the Northwest Citizens Patrol during a December banquet, were ordered to return the money and are under investigation to determine if they followed through on the order.

Tina Boers is 10 1/2 , and you can tell by the way she says it that the half means a lot to her. And why not? Half a year is a long time when you've only been around a decade, time enough to change from a fourth-grader who gets picked up by Mom after school to a fifth-grader with a house key who walks home by herself.Wait until her father sees her.Half a year is also how long Tina's dad, Staff Sgt. Chuck Boers of the 55th Signal Company (Combat Camera) is expected to be in Bosnia as part of the peacekeeping mission Operation Joint Guard.

Monsignor Joseph L. Luca, pastor of St. Louis Church, sought to ease the grief of family, friends, and classmates from Mount St. Joseph High School and Virginia Military Institute - 1,200 in all - who gathered Saturday at the Clarksville Roman Catholic church to mourn the death of John Alexander Evans. Evans, a 19-year-old VMI cadet from Highland who had graduated earlier this year from Mount St. Joe, died last Saturday in a Lexington, Va., hospital after collapsing in his barracks room upon completion of a 10-mile training march.

Fire Museum donations to fund improvements The Fire Museum of Maryland has received two anonymous donations totaling $185,000 that will help fund building improvements and pay for staff retention and utilities. A gift of $160,000 was left in the will of a longtime supporter, and interest from that gift will be used to help cover operating expenses and pay for visits by school groups, according to museum representative Rob Williams. A gift of $25,000 will be used to cover rising utility costs and other expenses, he said.

Just as the Monica Lewinsky affair turned on the meaning of the word is, the case against Mayor Sheila Dixon could come down to the definition of person. The city's ethics code requires public servants to disclose gifts from any person doing business with or regulated by the city. Prosecutors say Dixon accepted thousands of dollars in cash, furs, travel and other gifts from developer Ron Lipscomb, who won big city tax breaks from a board she chaired. She disclosed none of it. Problem?

Ray is a friend of mine whose oldest son graduated from college last year. With the holidays approaching, Ray stopped me the other day to ask if I had a way to make a mutual fund gift that would teach his son about investing. Ray describes himself as a "die-hard mutual fund guy," and he said his son knows nothing about funds; at the same time, Ray doesn't just want to give the kid money and hope that he learns something and doesn't blow it all. "How can I give him a gift of mutual funds?"

Here's an idea guaranteed not to be on your grandchildren's holiday wish list - a 529 college savings account. Here's a closer look at how grandparents can use 529 plans or two other approaches to help out on college costs: Tax free The most popular approach for helping the grandchildren pay for college is the 529 plan, which allows you to put away money tax-free for higher education expenses. Every state offers at least one 529 option. Maryland has two such plans. Grandparents can set up a 529 account or contribute to an existing plan opened by the grandchild's parents.

When did it get so stressful, something that was supposed to be so much fun? When did the joy of finding just the right gift for someone and wrapping it in bright paper and ribbon turn into such a chore? Maybe it was after your sister had her third child, or you gained new in-laws when you remarried. You realized you were going to have to find the right gift not just for someone, but for many more people than you ever imagined. And the number seems to be growing every holiday season. Not to mention the fact that for many of those shopping for gifts this year, money is getting tighter as the economy worsens.

Kevin Gift leads two musical lives. A classical pianist since childhood, he's performed Mozart with an orchestra in Bolivia and improvisational jazz in upscale concerts in Baltimore. But several years ago, Gift, 34, started tinkering with drum machines, turntables and other electronics to break the monotony of five-hour practice sessions. This small hobby grew into a side project - and later into another musical identity. The music was unlike anything Gift had made before: original riffs looped like samples over acid jazz and trip-hop beats.

I expected big results from my shares of Campbell Soup Co. Why haven't they done better this year? - F.C., via the Internet The world's largest soup maker has seen sales of that product cool off a bit lately, while its marketing and selling costs have risen. A decline in sales of its ready-to-serve soups has weighed on the stock price. In addition, competitor General Mills launched Progresso microwave soups that could threaten Campbell's longtime leadership in that category. Campbell Soup shares (CPB)

WISH LIST 98 Village Square, Village of Cross Keys / / Open 10 a.m.-6 p.m. Monday-Friday; 10 a.m.-5 p.m. Saturday / / 410-323-9101, bbbag.com ........................ THE BRIGHT LIME-GREEN SIGNS on the front doors of Wish List are a pretty good indicator of what you'll find inside; preppy and whimsical gift items in perky colors line the walls of the cozy store, which is the exclusive seller of Bosom Buddy Bags, a line of handbags created by owners Karin Chriss and Andrea Stieff. The retail is fairly eclectic--from initialed pink and green polka-dotted beer cozies to leather slides and one-of-a-kind suede bags adorned with antique handles.

The Baltimore Museum of Art announced yesterday that an anonymous donor has given the institution $5 million to endow the position of its top executive. Museum officials say that the endowment will ensure the museum's ability to attract talented leaders in the future and free up funds for new programs and staff. Museum director Doreen Bolger's current salary of $228,000 had been funded by the museum's annual operating revenues. Museum officials suggested that Bolger's salary could increase next year, but it would not change automatically because of the gift.