The American Heart Association
Charitable Gift Annuity Disclosure Statement
The purpose of this Disclosure Statement is to provide you, the donor or prospective donor, with a full and fair disclosure about the structure and operation of the American Heart Association Charitable Gift Annuity Fund (‘Fund’). Terms governing the payment of annuities in return for your gift are set out in the Charitable Gift Annuity Agreement (‘Gift Agreement’) that you will be asked to sign at the time you make your gift.
The American Heart Association Charitable Gift Annuity Fund (‘Fund’) was established by the American Heart Association, Inc., a New York not-for-profit corporation with its national headquarters at 7272 Greenville Avenue, Dallas, Texas 75231-4596. The obligation to make annuity payments is a general obligation of the American Heart Association. This obligation is backed by all of the otherwise unencumbered assets of the institution. At June 30, 2005, our total invested funds exceeded $455,000,000. These funds are invested in stocks, bonds, and mutual funds. We also maintain a gift annuity reserve fund valued at more than $14,394,000 that is invested in accordance with the laws of the states in which we offer gift annuities.
Mellon Bank, N.A. is currently serving as Administrator and custodian of the Fund. Mellon Bank, N.A. located at Three Mellon Bank Center, Pittsburgh, PA 15259-0001 is currently serving as Administrator and custodian of the Fund. The American Heart Association has the right to remove Mellon Bank, N.A. as Administrator, and Mellon Bank, N.A. has the right to resign as Administrator. In either event, the American Heart Association has the right to appoint a successor Administrator. The American Heart Association, therefore, retains effective control over the management of the Fund.
All gifts to the Fund are irrevocable: once made, they cannot be undone.
The American Heart Association was established in 1924 and has conducted charitable functions since that date. The Association is governed by a Board of directors consisting of 27 persons, who are elected by the Delegate Assembly at its Annual Meeting.
The common investment funds (including the segregated annuity reserve fund) held and managed by our organization are exempt from the registration requirements of the Federal Securities Laws, under an exemption for collective investment and similar funds maintained by qualified charitable organizations under the Philanthropy Protection Act of 1995. The information in this letter is given to you under the requirements of that Act.
Additional information is available upon request.
For more information
Email us, complete the personal illustration form, or contact the charitable estate planning representative in your area so that we can assist you through every step of the process.