Latham staff finds this concept innovative and feasible. A charitable gift annuity is a contract between a charity and a donor that allows the donor to transfer cash (or other assets) to the charity in exchange for a partial tax deduction and a monthly stream of income back to the donor. A percentage of the total charitable gift annuity, determined by the donor’s age, then provides monthly income back to the living donor. Upon one’s passing, Latham Lifelong Pet Care retains the residual gift.
The annuity option offers:
- a competitive and attractive payout rate, while controlling money as one ages – provides partially tax free income
- the opportunity to make annual tax-deductible donations to a charity
- an option to create security for a pet within Latham Lifelong Pet Care, while contributing to the entirety of Latham Lifelong Pet Care
- security that pets will be cared for by Latham after the owner passes
- a minimum gift of $10,000
An example of a Pet Therapy Charitable Gift Annuity with Latham Centers can be seen in the image to the right: