A Word from the Chair June 2018
Even if you didn’t have the opportunity to attend the 33rd ACGA Conference in Seattle in late April, you have probably heard the news that the Board of Directors, at its semi-annual meeting, approved an increase in the suggested maximum rates currently in effect. The new rate schedule was published on May 15, 2018 and is effective on July 1, 2018. The new schedule replaces the current rate schedule which was published on January 1, 2012.
Whether you are new to the work of ACGA or a long-time member or partner, we hope you understand that one of the primary activities of ACGA is the publication of suggested maximum charitable gift annuity rates for use by charities and their donors. The ACGA retains the services of an actuarial firm to advise and consult on matters pertaining to life expectancies and related matters. The ACGA has a long and distinguished record in this area, and its suggested maximum rates have long been recognized, not only by charities and donors, but also by state insurance departments and the IRS as being actuarily sound and in the best interests of all parties involved.
What does this mean for you and your organization? We hope you will review the new rates schedule with your organization’s leadership and determine if you will adopt the new rates schedule. For more detailed discussion about rates including the assumptions that underlie the suggested maximum rates, go to the ACGA website at https://www.acga-web.org/gift-annuity-rates. For even more detail on managing the financial liability of a charitable gift annuity program, ACGA members can access a whitepaper and webinar at https://www.acga-web.org/white-papers.
We hope you will agree that the modest annual membership fee of $200 is well-spent to have these resources available to your organization. If you have not yet renewed your membership or have colleagues at other organizations who would benefit from access to the resources available through ACGA and our quarterly newsletter, “In Touch”, https://www.acga-web.org/join will take you to the right place.
Together, let’s continue Promoting Responsible Philanthropy.