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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.

 

Kentucky

Regulation of Charitable Gift Annuities

Degree of Regulation:  

Under Section 304.1-120 of the Kentucky Revised Statutes, charitable gift annuities are exempt from insurance regulation.  State law grants a “blanket exemption” from regulation of charitable gift annuities.

  • Organization exempt from federal income tax and file a Form 990 (unless a Sec. 501(c)(3) religious organization)
  • Or a publicly owned or nonprofit privately endowed educational institution approved or licensed by the Kentucky Board of Education, the Southern Association of Colleges and Schools or the equivalent

Actions Required for Exemption:

A charity that meets the above mentioned requirements is authorized to issue charitable gift annuities.

Disclosure and Agreement Content Requirements:

None

Reserve Requirements:

None

Annual Reporting:

None

Compliance/Enforcement:

None

Links to State Regulations Pages:

Section 304.1-120 of the Kentucky Revised Statutes

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