Gifts of Real Estate
Fred Hutchinson Cancer Research Center will accept gifts of unencumbered real estate. A gift of real estate may be an outright gift or may be used to fund a lifetime income arrangement such as a charitable gift annuity.
Real estate includes homes, condominiums, commercial businesses and residential properties, agricultural and undeveloped land.
Why Make a Gift of Real Estate?
Many seniors want to simplify their lives by disposing of their real estate holdings, but outright sale will mean a large capital gains tax on what is most likely a significant appreciation. An outright gift to the Hutchinson Center will provide a significant charitable tax deduction and will avoid capital gains taxes.
If you choose to fund a charitable gift annuity with your appreciated property, there are also significant benefits.
- There is a federal tax deduction for the gift portion of the annuity.
- A portion of every annuity payment will be federal tax free, increasing the annuity payout rate.
- The gain associated with the annuity portion can be spread out over the donor's life expectancy rather than being recognized all in the year of the transfer.
Transfer of Real Estate is Easy
The Hutchinson Center has a team of highly experienced individuals who can meet with you and make the process go very smoothly, whether you choose to make an outright gift or fund an annuity.
Some Conditions
Before real estate is accepted by the Hutchinson Center it must be inspected by a member of our development staff and have a phase I environmental study completed. A real estate professional will also evaluate the property for marketability, and a professional appraisal will be done.
It is the policy of the Hutchinson Center to immediately sell real estate after the transaction is completed, so the marketability of the property is essential.
Who to Contact
If you have a question about a gift of real estate, or desire to make a gift, please contact Lynette Klein at (206) 667-2754 or toll free at (800) 279-1618.
