Donor Advised Funds | Mayo Clinic
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Simplify Your Giving
If you already have a donor advised fund (DAF), giving to Mayo Clinic is now faster and easier than ever. Simply click the DAFpay button below to recommend a grant in just three clicks — compatible with hundreds of providers including Fidelity, Schwab, and Vanguard. Your gift helps transform the future of healthcare through groundbreaking research and compassionate care.
If your gift is in honor of someone special, you can include a note in the DAFpay message field.
Build a Lasting Impact: Create Your Own Donor Advised Fund at Mayo Clinic
A donor advised fund is a fund you create by making an irrevocable gift to Mayo Clinic of cash or securities. Your initial gift of at least $100,000 will create an account within the Mayo Clinic Donor Advised Fund. You and other individuals you designate will advise the distribution of the gifting account.
By creating a donor advised fund, you can:
Make contributions at any time to your fund, which are invested by Mayo Clinic.
Propose when the distributions are made and the areas of Mayo Clinic or other charities the distributions support.
Receive an income tax charitable deduction for gifts to your donor advised fund, when you itemize. Your gifts may also reduce your gross taxable estate and, if you give appreciated assets, eliminate capital gains tax.
Your major benefits include:
Convenience and timing:
You can take a tax deduction now — when you make a gift to the fund — without immediately having to choose how you want your gift to support Mayo Clinic or other charities.
Simplicity:
Mayo Clinic manages the gifting account, which means we will maintain all records, make all the distributions and send you detailed reports.
Expertise:
Mayo Clinic will provide investment advice to make sure you are maximizing your impact.
Family philanthropy:
Families can build a tradition of giving and teach their children the value of philanthropy by involving them in the decisions about which grants to recommend. Plus, you can name your children as the next generation of fund advisors to carry forward a true legacy of giving.
Features
Mayo Clinic's Donor Advised Fund
Startup fees
None
Donor responsibility for record keeping and tax return preparation
None
Income tax charitable deduction for gifts of appreciated property
Market Value
Maximum income tax charitable deduction allowed per year
30% of adjusted gross income for property; 60% for cash
Tax on net investment income
None
Advisory privileges
Yes: Mayo Clinic receives 60% and other charities receive up to 40%
Donor can designate an advisor for future years
Yes
Learn How to Fund It
Learn How to Fund It
Create a donor advised fund with one of the following assets:
Cash
Appreciated Securities
Retirement Plan Assets
Real Estate
An Example of How It Works
Joe and Laura want to give back to their hometown by putting their money where it will do the most good. They establish a $25,000 donor advised fund with a community foundation.
The couple receives a federal income tax charitable deduction for the amount of the gift. They also get the time they need to decide which charities to support.
After researching community needs with the foundation’s staff, Joe and Laura recommend grants for Mayo Clinic (which they’ve supported for years) and a local animal shelter. The foundation presents the charities with checks from the Patricia Fund, which Joe and Laura named in honor of Laura’s mother. They name Mayo Clinic as the beneficiary to receive the account balance after their lifetimes. Joe and Laura are delighted to start this personal legacy of giving.
Get More From Your Donor Advised Fund
Want to learn more about donor advised funds? View and download the FREE guide
One-Stop Giving: The Mayo Clinic Donor Advised Fund
Get Your Free Guide
You can make a big difference with just a little effort by including a gift to benefit Mayo Clinic your will or living trust. Learn more in our free kit Transforming Care With a Gift to Mayo Clinic.
Not Sure How to Begin Planning?
This comprehensive estate planning kit will help you protect loved ones, organize everything in on place and save on taxes.
Download My Kit
Next Steps
If you already have a fund, use our tool
Take Action! Visit Your Fund
to connect. No fund yet?
Get our free guide
Contact the Mayo Clinic Office of Gift Planning at
800-297-1185
or
giftplanning@mayo.edu
to discuss using your donor advised funds to support Mayo Clinic and our mission.
Seek the advice of your financial or legal advisor.
If you include Mayo Clinic in your plans, please use our legal name and federal tax ID.
Legal name:
Mayo Clinic
200 First Street SW, Rochester, MN 55905
Federal tax ID number:
41-6011702
charitable bequest
is one or two sentences in your will or living trust that leave to Mayo Clinic 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
"I give to Mayo Clinic, a nonprofit corporation currently located at 200 First Street SW, Rochester, MN 55905, or its successor thereto,
______________
[written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
able to be changed or cancelled
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
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 Mayo Clinic 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 our 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Mayo Clinic as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Mayo Clinic as a lump sum.
beneficiary designation
clearly identifies how specific assets will be distributed after your death.
charitable gift annuity
involves a simple contract between you and Mayo Clinic where you agree to make a gift to Mayo Clinic 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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