Benjamin Silliman: The Gift Planner Behind the First Modern Charitable Annuity - Part I

Benjamin Silliman: The Gift Planner Behind the First Modern Charitable Annuity - Part I

Article posted in General on 4 October 2013| comments
audience: National Publication, Ron Brown | last updated: 28 April 2014
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Summary

In 1830 American artist John Trumbull offered his best paintings of the American Revolution to Yale College in exchange for a life annuity. Unfortunately, Yale had neither the money with which to make the annuity payments or construct what would be the world's first college art gallery to display them. In this essay, planned giving historian Ron Brown chronicles how Benjamin Silliman, NY attorney Peter Augustus Jay, and others then went to work inventing modern gift annuity agreements, arranging for public and private financing, and overcoming donor relations challenges to complete the gift.

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