Missouri Revised Statutes Title XXIII. Corporations, Associations and Partnerships § 352.500. Definitions

As used in sections 352.500 to 352.520 , the following terms mean:

(1)  “Charitable gift annuity” , a transfer of cash or other property by a donor to a charitable organization in return for an annuity payable over one or two lives, under which the actuarial value of the annuity is less than the value of the cash or other property transferred and the difference in value constitutes a charitable deduction for federal tax purposes;

(2)  “Qualified charitable gift annuity” , a charitable gift annuity described in Section 501(m)(5) of the Internal Revenue Code , and Section 514(c)(5) of the Internal Revenue Code that is issued by a charitable organization that on the date of the annuity agreement:

(a) Has a minimum of one hundred thousand dollars in unrestricted cash, cash equivalents, or publicly traded securities, exclusive of the assets funding the annuity agreement;  and

(b) Has been in continuous operation for at least three years or is a successor or affiliate of a charitable organization that has been in continuous operation for at least three years;

(3)  “Qualified organization” , an entity described in:

(a)  26 U.S.C. Section 501(c)(3) (1986);  or


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