Harness the Giving Power of a Private Foundation — Without the Complexity
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 to what 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 our 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.
||Mayo Clinic's Donor Advised Fund
|Donor responsibility for record keeping and tax return preparation
|Basis of income tax charitable deduction for gifts of appreciated property
|Maximum income tax charitable deduction allowed per year
||30% of adjusted gross income for property; 60% for cash
|Tax on net investment income
||Yes: Mayo Clinic receives 60% and other charities receive up to 40%
|Donor can designate an advisor for future years