Infomation on ethics, standards, and best practices related to charitable gift annuities.
CGA Best Practices - 5 Helpful Reminders
Below are some helpful reminders for your gift annuity program:
Philanthropy Protection Act of 1995 - Time for a Review
ACGA Position Paper: "Selling" Charitable Gift Annuities On Commission
Presented by the American Council on Gift Annuities.
It has come to the attention of the American Council on Gift Annuities (ACGA) that one or more charitable organizations have been recruited by life insurance agents, securities brokers, financial planners and others to sell gift annuities on commission. In addition, promotional materials that have been published indicate products being promoted by for profit companies that are referred to as gift annuities on a commission-based sales approach.
Federal Disclosure Statement for Gift Annuities
The Philanthropy Protection Act of 1995 (H.R. 2519) requires the charity to notify all existing donors to a gift annuity fund and then notify all prospective donors to the fund at the time of solicitation, using a letter or pamphlet format. This law became effective December 8, 1995.
Model Standards of Practice for the Charitable Gift Planner
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.