Doctors Without Borders’ Charitable Gift Annuity Policy

  1. Doctors Without Borders/Médecins Sans Frontières (MSF) will accept current gift annuities, which begin payments within one year of the gift date, as well as deferred payment gift annuities, whose initial payment is at least a year after the gift date. The maximum deferral period will be 15 years.
  2. Doctors Without Borders/Médecins Sans Frontières (MSF) will accept annuity gifts for one life, two lives in succession, or joint and survivor annuity agreements. Gift annuity agreements will be limited to one life or two lives in being at the time of the gift.
  3. The maximum annuity rates offered will be the current Uniform Gift Annuity rates and in the case of deferred payment gift annuities, the current Uniform Interest Factors, both adopted by the American Council on Gift Annuities, 233 McCrea Street, Suite 400, Indianapolis, IN 46225. We may establish a maximum annuity rate chart that is lower, but never higher than the Uniform Gift Annuity Rates of the American Council on Gift Annuities. To conform to the federally mandated "Clay-Brown Rule," the annuity rate offered will generate a charitable deduction of more than 10 percent of the fair market value of the assets given, or the annuity rate will be reduced to qualify for the deduction. (We realize that the monthly changing Applicable Federal Rate [AFR] affects the calculated deduction.)
  4. To conform to various state laws, we will always offer the maximum annuity rate to each potential donor/annuitant, based on the actuarial age of the annuitants, but we may suggest that if the person is willing to accept a lower rate, a larger charitable deduction would be obtained for the same size gift.
  5. Gift assets will be limited to cash and securities for which a ready market exists.  We will not accept closely held stock or real property into our gift annuity fund.
  6. To conform to various state laws, Doctors Without Borders/Médecins Sans Frontières (MSF) will operate a segregated gift annuity fund, in which identifiably separate investments will be maintained and which is not part of any other investment or endowment fund of the institution.  The full annuity gift will be admitted to the gift annuity fund of the institution and will be maintained until the demise of the last annuitant in the agreement.
  7. A policy or methodology will be established to identify the changing market value of each agreement, so that an appropriate amount may be withdrawn from the gift annuity fund at the termination of the agreement.
  8. The minimum acceptable gift will be cash or the fair market value of securities valued at:
    One life: ($5,000); Two lives: ($5,000); Deferred Payment Gift Annuities: ($5,000)
  9. The minimum actuarial age of an annuitant on the date the payments start is 65.  
  10. To conform to various state insurance laws, we may (with Board approval) elect to reinsure any annuity agreement above the minimum $100,000 of Required Legal Reserve amount on with an "A" rated commercial insurance company, registered to do business in our state of domicile. We will be aware that New York State permits reinsurance only through a "treaty" (negotiated) agreement with aregistered insurance company. And if the insurance company fails, we realize we are liable for the payments.
  11. The gift annuity will be effective on the postmark date on the envelope that brings it to us, or the date on the check (whichever is later), or, in the case of securities, the date the securities are received into our account, or in the case of physical certificates, the date we receive the stock certificate and stock power (whichever is later).
  12. Annuities will be paid monthly, quarterly, semi-annually or annually as requested.  Annuity payment amounts will be rounded upward to ensure that each payment will be exactly the same amount.  We will never round downward to ensure same payment amounts.  Annuity payments will be mailed in time to arrive on the payment due date.
  13. We will maintain a separate investment pool account for our gift annuity fund that is separate from our general investment pool so that appropriate fund records can be maintained to permit appropriate reporting of gift annuity fund activity to those states that require it by statute, should we later obtain a permit in any state that requires it.
  14. We will maintain investment and administrative records of our gift annuity fund and program to ensure that questions by our independent examiners can be answered appropriately.
  15. We will maintain a membership with the American Council on Gift Annuities to be aware of changes in rulings, and regulatory and administrative issues connected with administering a gift annuity fund and program.