Gift Annuities Benefit Donors, Nonprofits
By
Shelly Banjo
and Kristen Mcnamara
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Since annuities are backed by the charity's assets, Kelly suggests thoroughly vetting the institution's financial strength before funding an annuity. Ask organizations about their total asset levels and for records of any defaulted annuities.
Gift annuity defaults, due to an organization's insolvency, are rare, said Frank Minton, senior adviser at charitable consultancy PG Calc and former chairman of the ACGA.
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Shelly Banjo
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