Pomona College
Short Company Name:
Pomona College
Long Company Name:
Pomona College
Key Phrases:
Key Phrases:
Key Phrases:
Gift Annuity
A gift annuity is also known as a charitable gift annuity. Gift annuities allow donors to make tax deductible contributions to a charitable organization. In exchange for the charitable contribution, donors receive a stream of regular, annuity-like payments for their lifetime(s). The gifts are irrevocable, so donors do assume credit risk as charitable organizations can become insolvent. Some charitable organizations will use their own assets to fund the payments to the donor, while others will purchase a commercial annuity to fund the payments. The rates on gift annuities are typically a bit lower than what would be available through a commercial annuity.
Full List of Annuity Types
Glossary:
- Read more about Full List of Annuity Types
- Log in to post comments
Key Phrases:
Glossary:
New Service May Allow Charitable Organizations to Outsource Gift Annuity Administration
A new service may provide charitable organizations with greater access to gift annuities. The administrative aspects of charitable gift annuities can be a burden and obstacle for many smaller not for profit organizations. A Cambridge-based consulting firm is in discussions with a large non-profit to provide nationwide administrative services for gift annuities. Source: Philanthropy.com Full Story
Companies:
Alleged Ponzi Scheme Could Impact Charitable Gift Annuity Market
Robert Dillie allegedly operated a fraudulent foundation from 1996 to 2001. The foundation involved a ponzi scheme that issued $55 million in gift annuities to over 400 donors. As a result of the case, the Federal Court of Appeals has concluded that gift annuities are investment contracts under federal securities laws. The Court's conclusion will likely have a meaningful impact on the marketing activities of charitable foundations that are actively promoting gift annuities. Source: On...
Use of Gift Annuities at Colleges and Universities on the Increase
Colleges and universities have become more comfortable over the past several years with using gift annuities as a funding source. A gift annuity allows the college to secure a lump sum donation from a donor. In exchange, the donor receives lifetime income payments from the college. The ability to donate a lump sum while maintaining a source of income from those funds can be very attractive to the donor. This charitable donation funding approach has been growing steadily over the past several...
Key Phrases:
