CGA issued by a private foundation?

CGA issued by a private foundation?

Forum topic posted in Forum on 10 December 2008| 3 comments
audience: | last updated: 10 December 2008
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Joined: 02/18/2004
Points: 45
Are there federal or Missouri restrictions for a private foundation to engage in a Charitable Gift Annuity program for it's donors?

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Offline
Joined: 04/29/2008
Points: 105
Private Foundations Issuing CGAs
What if the are not disqualified persons, simply new or existing donors?
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Joined: 03/22/2006
Points: 30
Private Foundation Issuing CGAs
If the donors are already disqualified persons with respect to the foundation, then the issuance of a CGA in exchange for a donation would be a prohibited transaction--a sale or exchange of property between a private foundation and a disqualified person, Sec. 4941(d)(1)(A)--even if the annuity was calculated using market values. Don't go there.
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Joined: 02/18/2004
Points: 45
Private Foundations Issuing CGAs
Thanks, Charles. Clear and to the point! We won't go there.
7520 Rates: October 2.2% September 2.4% August 2.4%

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