Charitable Gift Annuities - A Cautionary Tale

A few months ago I met with the Director of Development of a large nonprofit organization headquartered in New York State (NYS) to discuss their mature Charitable Gift Annuity (CGA) program established more than ten years ago.

This experienced leader explained that the Board had been assured by the consultant who developed the program that there was absolutely no need to register the annuity in New York State. When I posed the possibility that the Board had been given incorrect information, the individual ended the call saying: “Our professional would never have recommended we embark on such a complex process without a thorough knowledge of what was required...”

On Philanthropy: Charitable Gift Annuities - A Cautionary Tale
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