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Terry Simmons 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.

Ethics and Standards

Infomation on ethics and standards related to charitable gift annuities.

ACGA Response to Media Reports of Charitable Gift Annuities as "Investment Scams"

In August the North American Securities Administrators Association (NASAA) released a list of the "Top 10" scams that they are fighting. Unfortunately, charitable gift annuities were included on the list. Their inclusion was apparently prompted by the recent default on gift annuities by the Mid-America Foundation and the Baptist Foundation of Arizona.

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ACGA Position Paper: Selling Charitable Gift Annuities On Commission

Presented by the American Council on Gift Annuities and the National Committee on Planned Giving

It has come to the attention of the American Council on Gift Annuities (ACGA) that one or more charitable community foundations have been recruiting life insurance agents, securities brokers, financial planners and others to sell charitable gift annuities on commission.

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Standardizing the State Regulations of CGAs

The National Association of Insurance Commissioners (NAIC) has approved final drafts of two drafts for state legislatures to choose and adopt to standardize the state regulation of charitable gift annuities (CGAs). The Charitable Gift Annuity Model Act and Charitable Gift Annuity Exemption Model Act language is posted below. Both drafts were approved by the NAIC at its Winter National Meeting in Orlando, Florida on December 7, 1998 and was sent to the 50 state legislatures in early 1999, suggesting that they pass one draft or the other, so that the state regulation of charitable gift annuities will be standardized as to the issuance of Gift Annuity Permits or exemption from regulation.

Model Standards of Practice for the Charitable Gift Planner

Preamble

The purpose of this statement is to encourage responsible gift planning by urging the adoption of the following Standards of Practice by all individuals who work in the charitable gift planning process, gift planning officers, fund raising consultants, attorneys, accountants, financial planners, life insurance agents and other financial services professionals (collectively referred to hereafter as "Gift Planners"), and by the institutions that these persons represent.

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