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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

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