Date:    11/21/97  2:02 PM

Subject: RE: File No. S7-26-97 / United Way

Mr. Jonathan G. Katz, Secretary
U.S. Securities and Exchange Commission 
450 Fifth Street, N.W.
Washington, D.C. 20549
     
Dear Mr. Katz:                                            Ref. File No. S7-26-97
     
United Way of America would like to express concern regarding the proposals 
contained in H.R. 944 and H.R. 945 to amend the Securities and Exchange Act of 
1934, bills introduced by Rep. Paul Gillmor on March 5, 1997 and referred to the
House Commerce Committee.
     
Our concern stems from two considerations:  1) the deterrent effect on 
charitable contributions that the proposed disclosure rules might cause and 2) 
the administrative burden keeping track of this information might have on your 
agency and on the donors themselves.
     
While we believe in the accountability of nonprofits and in the desirability of 
appropriate disclosure mechanisms, we believe that the Internal Revenue Service 
already has the mechanisms necessary to ensure that the laws of our country are 
observed.
     
Yours truly,
     
     
     
Carmen Delgado Votaw
Director, Public Policy