Oklahoma City Community College (OCCC) professor Steve Kamm is passionate about helping international students follow their educational dreams. 
He worked with the Oklahoma City Community Foundation to establish a charitable gift annuity that provides him with an annual income stream. After his death, the remaining value in the annuity will support awards for international students attending OCCC. Read more.  
Is the Charitable Gift Annuity Ancient History?
by Joe Carter, Oklahoma City Community Foundation Vice President of Development
Yes. And no. Let me explain. The second most common planned gift in the U.S. today, charitable gift annuities date back to 363 B.C. when ancient Egyptian husbands provided regular maintenance benefits for their new wives in exchange for their entire estate.

A handbook known as the Hermopolis Legal Code spelled out the rules of such contracts, which were so prevalent in ancient Rome that they were regulated by inheritance laws to protect the financial interests of surviving family members. The Romans even gave us the term now used for the philanthropic portion of a gift annuity: the residuum.  
Later, around 1000 to
1500 A.D., the English created corrodies, which are contracts exchanging charitable gifts for life benefits such as lodging, meals, drinks or cash payments.
In 1831, gift annuity contracts made their way to the United States when a highly regarded yet financially struggling artist named John Trumbull gifted more than 50 of his best paintings ( The Declaration of Independence & The Battle of Bunker’s Hill ) to Yale University in exchange for an annual annuity payout. However, gift annuities didn’t grow in popularity in the U.S. until the 1920s when the American Bible Society launched a major marketing campaign that resulted in the establishment of 4,615 annuity contracts.

Today, U.S. nonprofit organizations hold more than $3 billion in assets. The Oklahoma City Community Foundation is but one of those organizations offering charitable gift annuities for donors interested in leaving a charitable legacy.  
If you would like to learn more about how we can help you and your clients with this simple giving vehicle, please contact me at 405/606-2914 or visit our website .

We also offer an online deduction calendar and the schedule of gift annuity rates for your clients to run illustrations on what their payouts might look like. 
Do you want to increase your professional knowledge and skills and better serve your clients? Do you want insight that will benefit your clients immediately? This free luncheon hosted through the Oklahoma City Community Foundation and the Cannon Financial Institute helps you make it happen! 
March 26
Identifying Landmines and Minimizing Battle Scars in Conflicts Between Trustees and Beneficiaries
Registration closed
April 23
Where Does Your Trust Live?
Registration opens March 26
May 28
New and Enduring Problems in Business Succession Planning
Registration opens April 23
Registration for each event will open online following the prior month's teleconference.  
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