Degree of Regulation
Issuance of charitable gift annuities is regulated under Arizona Revised Statutes Section 20-103 and Arizona Revised Statutes Section 20-119.
- Must be a Charitable organization” meaning an entity that is described in § 501(c)(3) or 170(c) of the internal revenue code of 1986.
- Years of operation - three years continuous operation (or successor or affiliate of organization in operation for that time period)
- Minimum assets - $300,000 in unrestricted cash, cash equivalents or publicly traded securities (excludes CGA funding assets)
- Audited financial statements - Must have annual audit of its operations conducted by an independent certified public accountant for the past two fiscal years.
- Commissions not permitted - no compensation to anyone contingent on the donation or amount of the gift annuity (excludes regular compensation paid by the charity to its employees).
Links to State Regulations Pages