Charitable Gift Annuities

Turn Your Generosity Into Lifetime Income

Next Steps

  1. Contact Mayo Clinic Office of Gift Planning at giftplanning@mayo.edu or 1-800-297-1185 for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Mayo Clinic.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Mayo Clinic in your plans, please use our legal name and federal tax ID.

Legal Name: Mayo Clinic
Address: 200 First Street SW, Rochester, MN 55905
Federal Tax ID Number: 41-6011702

You can help Mayo Clinic make the lifesaving discoveries of tomorrow while also enhancing your financial security today. Establishing a charitable gift annuity with Mayo Clinic allows you to provide a gift to the area of your choosing while also receiving fixed payments for life.

A charitable gift annuity provides you with a steady income and a variety of tax benefits, including a federal income tax charitable deduction. After making a lifetime of payments to you, Mayo designates the remaining funds — 90 percent of the original gift, on average — to the area of your choice. That means if you give $10,000 today, Mayo Clinic will pay you every year for life and then designate almost $9,000 to the area you are most passionate about, such as cancer or Alzheimer’s disease research.

Mayo Clinic is prudent and wise with our investments, allowing us to achieve a 90 percent residual on charitable gift annuities and outperform the targeted national standard of 50 percent. We have a proven track record, a successful investment strategy and a tenured team who manage our endowment and gift annuity programs. Benefactors have confidence knowing that Mayo Clinic is maximizing their contributions and charitable impact.

You trust Mayo Clinic with your health. You can always trust Mayo Clinic with your philanthropy.

Benefits of establishing a charitable gift annuity

  • You receive fixed, steady income for life.
  • Part of the income is tax-free.
  • You receive an immediate charitable tax deduction.
  • If funded with appreciated securities, no upfront capital gains tax is due.
  • You can defer the payments until sometime in the future — such as when you reach retirement.
  • You can be confident knowing Mayo Clinic will be a good steward of your gift.

Here’s an example of how a $100,000 Charitable Gift Annuity can benefit you and Mayo Clinic.

Age 70
Assets used to fund annuity $100,000
Age at time of gift 70
Annuity rate 5.1%
Annual payment received $5,100
Charitable deduction $39,912
Estimated gift to Mayo $90,000

*Based on annual payments and a 1.6 percent charitable midterm federal rate.
** Past performance is not a guarantee of future results. Actual residual value will be dependent on future investment returns.

Next Steps

  1. Contact Mayo Clinic Office of Gift Planning at giftplanning@mayo.edu or 1-800-297-1185 for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Mayo Clinic.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Mayo Clinic in your plans, please use our legal name and federal tax ID.

Legal Name: Mayo Clinic
Address: 200 First Street SW, Rochester, MN 55905
Federal Tax ID Number: 41-6011702

An Example From Mayo Clinic

Gordon Gunnerson

Alzheimer's disease is an area close to Gordon Gunnerson's heart, as both of his late parents lived with the condition and he had previously operated an assisted living facility serving patients with the disease. When he sold the facility, he wanted to continue making a difference in the lives of those with dementia. So he turned to Mayo Clinic.

Gunnerson first encountered Mayo Clinic as a young man seeking help for his blind brother. He remembers teams of experts focusing on his brother, trying to help. Through the years, Gordon turned to Mayo time and again. Each time, he came away grateful for the kindness and care shown to him and his family.

Gordon decided to establish a $1 million charitable gift annuity to advance Mayo Clinic's Alzheimer's disease research. A charitable gift annuity pays back in cash a percentage of a philanthropic gift.

"I want Mayo Clinic to have money to do more experiments to solve more problems and help more people, especially people with Alzheimer's. The only thing I'm hoping for is a solution for Alzheimer's."

A CGA is way of giving that supports Mayo's patient-centered mission while at the same time offering Gordon a regular income for life, guaranteed.Gordon's belief in the kindness of strangers has never failed him. Now it's his turn to help strangers in need, through his generous gift to advance Alzheimer's research.

Read more

See How It Works

Learn How to Fund It

You can use the following assets to fund a charitable gift annuity:

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Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.

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When making a bequest, it is important to name precisely the organizations you intend to benefit. By avoiding a common name for an organization, you ensure your donation reaches its intended beneficiary. Following is the appropriate language to use when including Mayo Clinic in your estate plans.

"I give, devise and bequeath to Mayo Clinic, a not-for-profit organization, located in Rochester, Minnesota, the sum of (or % of my estate), (or other personal real property herein described) to be used for (designated purpose) or its general programs in medical education and research as it shall determine."

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

The official name to be used for all outright and deferred gifts is MAYO CLINIC.

Bequests are generally worded: "I give, devise and bequeath to Mayo Clinic, a not-for-profit organization, located in Rochester, Minnesota, the sum of (or % of my estate), (or other personal real property herein described) to be used for (designated purpose) or its general programs in medical education and research as it shall determine."

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 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, 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 Mayo Clinic 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 Mayo Clinic 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 Mayo Clinic 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 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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