A gift of your retirement assets [IRA, 401(k), 403(b), pension or other tax deferred plan] is an excellent way to make a charitable gift. If you are like most people, you probably will not use all of your retirement assets during your lifetime. Make a gift and help our mission to eliminate cancer and related diseases as causes of human suffering and death.
Did you know that 50 percent to 60 percent of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave heirs the assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to the Hutchinson Center. As a nonprofit, we are not taxed upon receiving an IRA or other retirement plan assets.
Your retirement assets may be transferred to the Hutchinson Center by completing a beneficiary designation form provided by your plan custodian. If you designate Fred Hutchinson Cancer Research Center as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
The purpose of these web pages is to provide general educational information about charitable gifts, financial considerations and estate planning. They are not intended as legal, accounting or other professional advice. For assistance in planning charitable gifts with tax and other financial implications, the services of appropriate advisers should be obtained. Consult an attorney for advice if your plans require revision of a will or other legal document.