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Simmons Endowment Fund

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The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.

 

Colorado

Regulation of Charitable Gift Annuities

Degree of Regulation:

Colorado Revised Statutes 10-1-102(4) and 10-3-903(2)(i) provide a general exemption for charitable gift annuities from Colorado state insurance regulation.

  • Years of operation – three years continuous operation
  • Qualified to receive tax deductible contributions

Actions Required for Exemption:

A charity is authorized to issue gift annuities after meeting the above mentioned requirements.

Disclosure and Agreement Content Requirements:

Annuity agreements must include the following specified disclosure language:

“This annuity is not issued by an insurance company nor regulated by the Colorado Division of Insurance and is not protected by any state guaranty fund or protective association.”

Reserve Requirements:

None

Annual Reporting:

None

Compliance/Enforcement:

None

Links to State Regulations Pages:

Colorado Revised Statutes 10-1-102(4) and 10-3-903(2)(i)

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