Suggested Maximum Gift Annuity Rates, Quality Training Opportunties, and Consumer Protection Advocacy

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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.

 

Philanthropy Protection Act of 1995 - Time for a Review

ACGA encourages sponsoring organizations to review the Philanthropy Protection Act of 1995 (PPA). The PPA grants charities broad exemptions from compliance with securities laws of the United States, as long as specific requirements are met.

One requirement of the PPA is that each charitable organization that issues CGAs provides a written Disclosure Statement to prospective donors.  The Statement needs specific information that should be updated at least annually.  We also want to point out that various states, in their regulation of charitable gift annuities, require that specific information be disclosed as well.  Sample language for a Disclosure Statement is available on the ACGA web site and from your planned giving vendor.

The PPA also includes a provision relating to compensation. Only employees who are engaged in the overall fundraising activities of an organization can solicit donations for gift annuities, and these individuals can receive no commissions or special compensation based on the number or the value of donations collected. 

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