Planned Giving Insights | Edie Matulka (3)

Wisconsin Changes Gift Annuity Regulation,
Highlights Planned Giving Compliance Issues

Published by Edie Matulka on April 22, 2014

Legislation making significant changes to Wisconsin’s gift annuity regulation was recently adopted when Wisconsin Act 271, Senate Bill 152 became effective April 18th, 2014. With its enactment, it is no longer necessary for charities to register with, or submit annual reports to, the Wisconsin Office of the Commissioner of Insurance. However, organizations must still comply with certain requirements. The changes in Wisconsin serve as a reminder of the importance of planned giving compliance for fundraisers.(4/22/2014: A small update to Planned Giving Manager and Gift Annuity Manager will be released soon to accommodate clients that issue annuities (or are considering it) in Wisconsin. Email support@pgcalc.com to learn more.) REMINDER: If you are a current PGM client and have not received a link to the update reflecting changes to WI law, please contact Client Services (888-474-2252).

state registration, charitable gift annuities, state registration assistance, planned giving compliance

2 minute read

Bankruptcy and Gift Annuities: “Keep Calm and Carry On”

Published by Edie Matulka on October 4, 2013

On October 2nd, 2013, the Chronicle of Philanthropy reported The New York City Opera was entering Chapter 11 bankruptcy protection and would “wind down” its operations after 70 years. The news prompted anxious calls from charities and gift annuitants to us here at PG Calc. They all had the same concern: what happens to gift annuitants when a charity goes into bankruptcy? The good news is that such circumstances have been incredibly rare. Based on the few occasions where it has occurred, it seems likely that those with annuities issued by the bankrupt organization will be protected. Here are two key factors to understand in addressing questions that may come from your boss or your annuitants and other constituents.

charitable gift annuities, gift annuitant, segregated reserve fund, charity bankruptcy, gift administration, gift annuity payments

2 minute read

Michigan Amendment Exempts Gift Annuity Payments From Withholding

Published by Edie Matulka on December 7, 2012

As noted in the March eRate, Michigan revised its tax law to provide for withholding of Michigan income taxes from pension and annuity payments, effective January 1, 2012. While the revision did not specifically mention gift annuities, it did appear that in certain circumstances they could be subject to the withholding requirement.

state of Michigan gift annuity rules, charitable gift annuities, charitable giving and taxes

1 minute read

Planned Giving Across State Lines

Published by Edie Matulka on July 19, 2012

If your organization has a purely "local" donor base, your planned giving program may not be affected by the laws of any state other than your own. But what happens when a key supporter moves to another state yet still wants to benefit the organization, whether through a charitable gift annuity or simply a bequest?

state registration, state requirements for gift annuities

4 minute read