Olsson's $10,000 gift annuity for general cancer research made in 1995 provides seed money for cancer research that also can attract grants.
Profile: Elvi Olsson, 78, of Auburn, retired educator. Single, no children.
$10,000 gift annuity to Fred Hutchinson Cancer Research Center. Separate bequests as well to “The Hutch” and Children’s Hospital & Regional Medical Center.
“I’ve had good friends and cousins in Sweden who have died from cancer, and I’ve always been very interested in finding a cure for cancer,” says Olsson, who emigrated from Sweden to Washington at age 10 and was raised by two cousins. “I’m the end of the trail, so I’m dividing everything — including the house I live in — between the [two] hospitals.”
Why a gift annuity:
“I’m careful about what I give, but I don’t want to lower my standards [of living],” says Olsson, who taught reading and state history for 33 years and loves University of Washington sports, stitchery and travel (recent trips: Russia, Antarctica).
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Olsson’s $10,000 gift annuity for general cancer research made in 1995 provides seed money for cancer research that also can attract grants, while providing Olsson with annual 7.1 percent annuity payments the rest of her life.
“It’s a win-win for both Elvi and Fred Hutchinson,” says the Hutch’s director of planned giving Lynette Klein. “She loves the idea of some tax-free income and a charitable tax deduction. She’s receiving a fixed income for life that doesn’t change, no matter what happens in the stock market.”