If you’re age 60 and above, an Oregon Humane Society gift annuity can be a good charitable giving strategy.
How does the annuity work?
The gift annuity is a contract between you and the Oregon Humane Society. You make an irrevocable gift to OHS. In return OHS agrees to pay you a fixed amount for your lifetime.
Your payment will not change regardless of market and interest rate fluctuations. The option of a two-life annuity is popular with couples.
Your age at the time of the gift permanently fixes the payout rate. The amount of your gift ($5000 is the suggested minimum) determines the size of the payment to you.
For example: The current annuity rate for a person age 70 is 5.1%. If that person makes gift of $10,000, in return OHS will pay to them $510 annually for life.
Once the annuity is created, you can look forward to receiving the payment in June and December. You have the option of a check mailed to you, or direct deposit to your bank account. In January OHS will provide a Form 1099 for your taxes.
Along with a reliable stream of income for life there are additional benefits:
- You are providing meaningful support to OHS.
- A portion of your gift will be tax deductible.
- If funded with appreciated securities, a portion of the capital gains tax can be avoided.
- A portion of the payment will be tax-free income.
- A final benefit - unique to an OHS annuity - is it also entitles you to the benefits of our Friends Forever TM care-of-surviving-pets program.
Would you like to learn more?
To discuss a gift annuity, (or any aspect of estate planning) or to receive a personalized proposal detailing the benefits of an annuity, contact Gary Kish by email or phone 503-416-2988.
