Planned Giving

Commercial Annuities

Learn more about making tax-wise gifts.

Ready to start planning today?

Learn how you can make a
big difference with just a
little effort.

Learn more about the many benefits of a charitable
gift annuity.

Discover which type of charitable trust fits your estate plan.

Learn more about the many ways to give real estate.

Learn how you can establish a legacy of support.

Want to learn more about donor advised funds?

Want to learn more about this simple gift?

Ready to take advantage of this tax-smart gift opportunity?

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Banks and life insurance companies typically sell commercial annuities. They provide the owner with fixed or variable income based on commercial rates of return. Because commercial annuities are subject to income and estate taxes, they are often considered among the best assets to leave to charity. The best way to give a commercial annuity in support of our work after your lifetime is to name Fred Hutch as beneficiary.

Upon withdrawal, even after death, a distribution from a commercial annuity will be subject to federal income tax and applicable state income tax. By naming us as beneficiary, the Hutch can receive your commercial annuity completely tax-free and any assets contributed to the Hutch in this manner will result in a charitable deduction and help reduce any estate tax your estate might incur.

Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.

Next Steps

  1. Contact our Planned Giving team at 206.667.3396 or at plannedgiving@fredhutch.org for additional information on commercial annuities.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Fred Hutch in your plans, please use our legal name and Federal Tax ID.

Legal Name: Fred Hutchinson Cancer Research Center
Address: 1100 Fairview Ave. N., Mail Stop J5-200, Seattle, WA 98109
Federal Tax ID Number: 23-7156071

When using gifts through beneficiary designations to support the Hutch, it is important to share with us if you are interested in supporting a specific project, program or area of research. Often we do not receive that information from the account custodian. Also, it is best to discuss any restrictions with our Planned Giving team before completing your gift to confirm Fred Hutch can meet your wishes.

Learn more about making tax-wise gifts.

Ready to start planning today?

Learn how you can make a
big difference with just a
little effort.

Learn more about the many benefits of a charitable
gift annuity.

Discover which type of charitable trust fits your estate plan.

Learn more about the many ways to give real estate.

Learn how you can establish a legacy of support.

Want to learn more about donor advised funds?

Want to learn more about this simple gift?

Ready to take advantage of this tax-smart gift opportunity?

View My Free Brochure

Not Sure How to Begin Planning?

Download our FREE Personal Estate Planning Kit

A charitable bequest is one or two sentences in your will or living trust that leave to Fred Hutchinson Cancer Research Center a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I give to Fred Hutchinson Cancer Research Center, a Washington nonprofit corporation located in Seattle, Washington, or its successor organization, the sum of $ _________ (or % of my estate), (or other personal property herein described) to be used for its general support and charitable purposes without restriction."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Fred Hutch or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support the mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Fred Hutch as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Fred Hutch as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Fred Hutch where you agree to make a gift to Fred Hutch and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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