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Author Topic: Latas, Dwight, Stern offer health help  (Read 3175 times)

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Offline Tallman

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Latas, Dwight, Stern offer health help
« on: May 01, 2011, 06:58:58 AM »
Latas, Dwight, Stern offer health help
By Carol Matroo (T&T Newsday)


Three of Trinidad and Tobago’s most prominent sportsmen, who have received international recognition for their prowess, have decided to give back to their country and their people, by way of health through the Altus Health Services.

Footballers Russell Latapy (retired), Stern John and Dwight Yorke (retired) have joined together to form the Stern John Sports Medicine and Dwight Yorke/Russell Latapy Cardiac Foundation.

The foundation was launched last Thursday, and is being housed, at the Carlton Savannah, St Ann’s.

They are following in the footsteps of the “Prince of Port-of-Spain”, Brian Lara, world class cricketer and the pride of TT, to enter this realm of health.

Lara established the Brian Lara Cancer Treatment Centre after his mother, Pearl, died of cancer in 2002.

Altus, which was established in 2010, offers specialised services in the areas of advanced therapy and rehabilitation with professional neurological, sports, cardiac, hand/upper limb therapeutic services and executive wellness programmes.

It was Altus’ vision to provide cardiac patients with a structured and managed post surgery rehabilitation programme.

After extensive research and dialogue with experts and Baptist Health in the United States, it was found that there was a need for upper extremity and neurological rehabilitation, chronic pain management and provision of athletic performance for post and rehab patients and elite athletes.

Hence this new facility was created, with the hope that athletes, or even the man on the street, would be able to access the help that they needed.

While the sportsmen were not on hand for the official opening because of other duties, Latapy’s brother, Justin, spoke on behalf of the sports stars.

Justin said his brother always had a vision for wanting to “fall into this type of charity.

“Once he identified one and found it to fit his heart, and this is where he essentially went, I jumped on board with him,” he said.

Justin said his position was at the foundation was “yet to be determined and was just freelancing.”

He explained that the sportsmen felt that they had to give back to the people who had and have been supporting them throughout the years.

“Ultimately these guys have done very well for themselves both health wise and otherwise, and what their goals have always been, and I’m speaking not only for Russell, but all the other guys mentioned, there needs to be some sort of social responsibility giving back to where you are from, Trinidad and Tobago being first, the region and then you want to look internationally,” he explained

Justin explained that the foundation was about affording people who may be lacking information, or not being able to access these services the opportunity to “get there, to get well, to keep good health.”

“I need to mention that it is not so much the post care, but the pre care. Altus has gone into what is considered athlete development which consists of strength and conditioning and also goes into rehabilitation. So when you marry the two it’s an automatic thing not just for athletes from youngsters all the way up to professional level, but also the general public,” Justin said.
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Offline Preacher

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Re: Latas, Dwight, Stern offer health help
« Reply #1 on: May 01, 2011, 08:23:02 AM »
 :applause:   


Stern done  ???
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Offline davidephraim

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Re: Latas, Dwight, Stern offer health help
« Reply #2 on: May 01, 2011, 08:30:18 AM »
:applause:   


Stern done  ???

long live the king...
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Offline fitzinho

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Re: Latas, Dwight, Stern offer health help
« Reply #3 on: May 01, 2011, 09:29:29 AM »

Offline davidephraim

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Re: Latas, Dwight, Stern offer health help
« Reply #4 on: May 01, 2011, 09:31:35 AM »
:applause:   


Stern done  ???

long live the king...
U sound surprised

ah think Stern should have the honor of playing a last game and gettin to run around the stadium one more time. Has never been my favorite player but guess what.. The Stats dont Lie. Long live King John.
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Offline frico

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Re: Latas, Dwight, Stern offer health help
« Reply #5 on: May 01, 2011, 04:58:40 PM »
That is good of those 3 and its about bloody time.

Offline g

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Re: Latas, Dwight, Stern offer health help
« Reply #6 on: May 01, 2011, 06:09:37 PM »
The article doesn't refer to Stern and retired.

Only Dwight and Latas
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Offline 100% Barataria

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Re: Latas, Dwight, Stern offer health help
« Reply #7 on: May 01, 2011, 07:07:12 PM »
well done lads
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Offline Football supporter

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Re: Latas, Dwight, Stern offer health help
« Reply #8 on: May 02, 2011, 08:48:07 AM »
As much as I applaud footballers giving back...this article fails to inform of several key pieces of information:

It says at one point its a charity. So, who's running it, providing treatment etc?
What is the cost of treatment?
Did the guys make a donation, or just lend their name?

Lara made a real contribution to the Cancer Foundation. Is this just a business using high profile names for publicity?

Sorry to be a bit negative, but the article is far from informative.

Regarding forum comments: I feel that Stern should get a final run out in a friendly in the near future so he can bow out in style. As the man said: statistics don't lie!

Offline kicker

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Re: Latas, Dwight, Stern offer health help
« Reply #9 on: May 02, 2011, 10:08:27 AM »
Set up a charitable foundation for the tax benefit s... normal move for high net worth individuals...
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Offline Dutty

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Re: Latas, Dwight, Stern offer health help
« Reply #10 on: May 02, 2011, 10:32:09 AM »
Set up a charitable foundation for the tax benefit s... normal move for high net worth individuals...

Plus dwight will get to do plenty breast examinations in de backroom







ok ok ah know ah sullyin de gentlemens and dem altruistic attempt but ah coudnt resist
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Offline Bakes

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Re: Latas, Dwight, Stern offer health help
« Reply #11 on: May 02, 2011, 11:57:11 AM »
Set up a charitable foundation for the tax benefit s... normal move for high net worth individuals...

I think you're overplaying the actual benefits derived from such a move... non-profit status benefits the foundation and donors, not the founder/s. Unless they'll be donating on the regular then any benefit is a one-time benefit (since the benefit is tied to gifts/donations).  If we're being cynical then the real benefit will be the positive PR derived from the name association.


Offline kicker

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Re: Latas, Dwight, Stern offer health help
« Reply #12 on: May 02, 2011, 12:36:57 PM »
Set up a charitable foundation for the tax benefit s... normal move for high net worth individuals...

I think you're overplaying the actual benefits derived from such a move... non-profit status benefits the foundation and donors, not the founder/s. Unless they'll be donating on the regular then any benefit is a one-time benefit (since the benefit is tied to gifts/donations).  If we're being cynical then the real benefit will be the positive PR derived from the name association.

Nah not overplaying it - we on the same page.  I imagined that they would be the inaugural donors (as many founders of charitable organizations are)...Small, medium or large, there are potential tax benefits to be had if you have a fair amount of wealth put away... Remember too it's not just amount donated that is subject to tax benefits but in many jurisdictions Cap Gains of charitable organizations is shielded from tax as well...

As a general (oversimplifed of course) rule if yuh investment gains exceed yuh spending requirements (I believe most charitable foundations have minimum spending requirements)....a charitable foundation is a net positive way to lighten the tax bill through donations (deductibles), cap gains (tax shields) and generation skipping (gifting)...
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Offline Bakes

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Re: Latas, Dwight, Stern offer health help
« Reply #13 on: May 02, 2011, 05:06:02 PM »

Nah not overplaying it - we on the same page.  I imagined that they would be the inaugural donors (as many founders of charitable organizations are)...Small, medium or large, there are potential tax benefits to be had if you have a fair amount of wealth put away... Remember too it's not just amount donated that is subject to tax benefits but in many jurisdictions Cap Gains of charitable organizations is shielded from tax as well...

As a general (oversimplifed of course) rule if yuh investment gains exceed yuh spending requirements (I believe most charitable foundations have minimum spending requirements)....a charitable foundation is a net positive way to lighten the tax bill through donations (deductibles), cap gains (tax shields) and generation skipping (gifting)...

Any amount donated is eligible for deduction up to 30% of your income for that particular year, 50% under certain circumstances, and there is no carry over to the following year.  So again, it's just a one-time benefit.  Capital Gains of 501 (c)(3) organizations are shielded from tax but that accrues to the benefit of the organization, not the donors/founders.  As for spending requirements, that may be true of Trusts, not all charitable organizations as a whole.  Contrary to what you think, gifts are taxable as well.

Offline najee

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Re: Latas, Dwight, Stern offer health help
« Reply #14 on: May 02, 2011, 06:39:48 PM »
I WILL HOINIOR THAT....KING JOHN...THE BEST MARK MAN...IN CARIBBEAN AND TRINIDAD AND TOBAGO  IN MY TIME....

Offline kicker

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Re: Latas, Dwight, Stern offer health help
« Reply #15 on: May 02, 2011, 07:47:08 PM »
Any amount donated is eligible for deduction up to 30% of your income for that particular year, 50% under certain circumstances, and there is no carry over to the following year.  So again, it's just a one-time benefit.  Capital Gains of 501 (c)(3) organizations are shielded from tax but that accrues to the benefit of the organization, not the donors/founders.  As for spending requirements, that may be true of Trusts, not all charitable organizations as a whole.  Contrary to what you think, gifts are taxable as well.

Not sure if you're responding to what I said or just providing info...because:

I never said there was any carry over to the following year. I was talking about there being more than one avenue for tax benefits - tax deductions through donations, tax shields to cap gains, and deferring taxes through generation skipping.

Never said that ALL charitable organizations "as a whole" have spending requirements.

Cap gains accrue to the org for sure, but if it's your organization it's as good as your tax benefit, the alternative being taxable cap gains accruing to the individual. i.e.  Option 1- Invest yourself and incur cap gains tax Option 2- or set up a foundation and get the cap gains tax benefit through the organization (ultimately it will be a deferral if/when the foundation is dissolved/unwound)

I know that gifts are taxable.  I was referring to generation skipping to defer taxes.  Trusts & Foundations are tools used for generation skipping.

I eh know how much Yorkie and dem looking to minimize the tax bill (the more yuh have to play with the more it would make sense), but it wouldn't surprise me if they were setting up a foundation under the advice of a financial planner discussing alternatives for accumulated wealth that they have sitting around....It's not that far fetched I don't think.  It's pretty common among wealthy individuals and families who don't really care too much for positive press...
 
« Last Edit: May 02, 2011, 07:55:02 PM by kicker »
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Offline Bakes

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Re: Latas, Dwight, Stern offer health help
« Reply #16 on: May 03, 2011, 05:46:49 PM »
Not sure if you're responding to what I said or just providing info...because:

I never said there was any carry over to the following year. I was talking about there being more than one avenue for tax benefits - tax deductions through donations, tax shields to cap gains, and deferring taxes through generation skipping.

Never said that ALL charitable organizations "as a whole" have spending requirements.

Cap gains accrue to the org for sure, but if it's your organization it's as good as your tax benefit, the alternative being taxable cap gains accruing to the individual. i.e.  Option 1- Invest yourself and incur cap gains tax Option 2- or set up a foundation and get the cap gains tax benefit through the organization (ultimately it will be a deferral if/when the foundation is dissolved/unwound)

I know that gifts are taxable.  I was referring to generation skipping to defer taxes.  Trusts & Foundations are tools used for generation skipping.

I eh know how much Yorkie and dem looking to minimize the tax bill (the more yuh have to play with the more it would make sense), but it wouldn't surprise me if they were setting up a foundation under the advice of a financial planner discussing alternatives for accumulated wealth that they have sitting around....It's not that far fetched I don't think.  It's pretty common among wealthy individuals and families who don't really care too much for positive press...
 

Lol@ "just providing info"...

I specifically mentioned the "no carry over" thing to underscore that any benefit would be a one-time benefit.

As for Cap gains and "if it's your organization it's as good as your tax benefit"... false.  Your money is your money, the organization's money is the organization's money.  Your tax benefit is yours, the org's is the org's.  There can be no commingling and no benefits to "insiders".  Not sure about T&T law, but that's a sure way to lose your 501(c)(3) designation here in the US.

As for the rest... much of what you're referring to MAY be applicable to Trusts but don't apply to charitable healthcare organizations, which this appears to be.  Even with a Trust, there must be clear delineation between the assets of the Trust and the donor or any other executive with a fiduciary role/responsibility.  Bringing my post full circle... the only way for a donor to derive longitudinal benefit from charitable giving is for that donor to keep giving on an annual basis.  Anything else and it's just a one-time write off for that fiscal year in which the gift was made.  There is no deferred benefit to be had at dissolution.
« Last Edit: May 03, 2011, 05:48:23 PM by Bakes »

Offline Tallman

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John delighted with Altus rehab
« Reply #17 on: May 26, 2011, 04:52:56 AM »
John delighted with Altus rehab
By Shaun Fuentes (TTFF)


Having suffered injuries which threatened to curtail his career on more than one occasion, Stern John is pleased to be associated with a Port-of-Spain-based health service facility which offers expert treatment and rehabilitation services. John and former teammates Dwight Yorke and Russell Latapy have endorsed Altus Health Services Limited which is a unique and innovative model. It offers comprehensive rehabilitation services for cardiac, neurological, sports injury patients and chronic pain management patients. The facility, located on the sixth floor of Carlton Savannah Hotel, also provides advanced athlete performance enhancement. Having played for the likes of Sunderland, Coventry City, Crystal Palace and Birmingham City among others in England and USA’s Columbus Crew, John has always been afforded top level treatment whenever he was hit by injury. “I’ve always been lucky to receive a high level of treatment and rehab in England and in the US and I was thrilled to find out that these opportunities are now available for local athletes and the general population,” John said on Tuesday. “I remember in 2009 when I got injured at home, the treatment wasn’t available and I’ve also seen it happen to other local players. Now with treatment and help available at Altus, it will make things easier for injured sportsmen and women to receive the proper treatment and have a better chance of recovery,” John noted. “I’ve been fortunate to enjoy a decent playing career. I’ve been to a World Cup and I’m pleased to be involved in such a project like this where fellow athletes can benefit.”
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Offline Swima

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Re: Latas, Dwight, Stern offer health help
« Reply #18 on: May 26, 2011, 07:24:44 AM »
Been in the process some weeks now of partnering Altus with our swim club for performance enhancing/prehab/rehab programmes. Very thorough and professional new company with lofty goals. Full endorsement.
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Offline Tongue

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Re: Latas, Dwight, Stern offer health help
« Reply #19 on: May 26, 2011, 11:00:39 AM »
Any amount donated is eligible for deduction up to 30% of your income for that particular year, 50% under certain circumstances, and there is no carry over to the following year.  So again, it's just a one-time benefit.  Capital Gains of 501 (c)(3) organizations are shielded from tax but that accrues to the benefit of the organization, not the donors/founders.  As for spending requirements, that may be true of Trusts, not all charitable organizations as a whole.  Contrary to what you think, gifts are taxable as well.

Not sure if you're responding to what I said or just providing info...because:

I never said there was any carry over to the following year. I was talking about there being more than one avenue for tax benefits - tax deductions through donations, tax shields to cap gains, and deferring taxes through generation skipping.

Never said that ALL charitable organizations "as a whole" have spending requirements.

Cap gains accrue to the org for sure, but if it's your organization it's as good as your tax benefit, the alternative being taxable cap gains accruing to the individual. i.e.  Option 1- Invest yourself and incur cap gains tax Option 2- or set up a foundation and get the cap gains tax benefit through the organization (ultimately it will be a deferral if/when the foundation is dissolved/unwound)

I know that gifts are taxable.  I was referring to generation skipping to defer taxes.  Trusts & Foundations are tools used for generation skipping.

I eh know how much Yorkie and dem looking to minimize the tax bill (the more yuh have to play with the more it would make sense), but it wouldn't surprise me if they were setting up a foundation under the advice of a financial planner discussing alternatives for accumulated wealth that they have sitting around....It's not that far fetched I don't think.  It's pretty common among wealthy individuals and families who don't really care too much for positive press...
 

so US Tax Laws and Tnt Tax Laws is de same? ???

 

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