NOTE: While every effort is made to provide accurate data, neither any persons named in these pages nor the American Council on Gift Annuities guarantees the accuracy of the data presented here. The user of this information is solely responsible for determining and verifying the accuracy of the data presented here and how it is used by the reader. This information is provided solely as a resource. This information is supplied by the ACGA State Regulations Committee.
Degree of Regulation
- 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).