For Professional Advisors

In your work as a professional advisor, you value professionalism, integrity and honesty, taking the utmost care when serving your clients. As a nonprofit organization, we share your values and take the same care in helping our donors plan charitable gifts to Mayo Clinic. Like the relationship you’ve built with your clients over time, the Mayo Clinic Office of Gift Planning is also based on a long-standing tradition of trust. At Mayo Clinic, we aim to help legal, tax and financial advisors like you design and implement their clients’ philanthropic financial and estate plans.

Mayo Clinic has a team of philanthropic professionals to help you find the perfect solution whether you have a client who needs year-end tax benefits, a business owner who wants to leave a legacy, a family with a complicated tax status, or anything in between. In partnership with you, we can easily transition your clients’ more complicated assets — such as stock, real estate or personal wealth — to meaningful philanthropic support.

BENEFITS OF WORKING WITH US

  • Knowledgeable staff committed to the benefactor’s best interest.
  • Wide variety of gifts accepted.
  • Expert charitable investment management. In fact, Mayo Clinic consistently outperforms peer nonprofits in achieving a higher-than-average return on philanthropic investments.

SERVICES WE OFFER

  • On-site visits with you and your client.
  • Estate planning assistance.
  • Comprehensive gift calculations tailored to your client.
  • Guidance choosing the right gift vehicle for your client.
  • Economical and effective alternatives to a private foundation.
  • Ability to handle complex gifts such as stock, real estate and tangible personal property.

TOOLS FOR YOU

Legal name: Mayo Clinic
Federal tax ID number: 41-6011702
Located at: 200 First Street SW, Rochester, MN 55905

Sample Bequest Language:
"I give, devise and bequeath to Mayo Clinic, a Minnesota charitable corporation and a qualified 501(c)(3) organization, located in Rochester, Minnesota, Federal Tax ID number 41-6011702, the sum of _________ (or % of my estate), (or other personal property herein described) to be used for its general programs in medical education and research as it shall determine."

Charitable Gift Annuity and Charitable Trust Gift Illustrator

Gifts of Real Estate

PARTNER WITH US

We understand that gifts to charities such as Mayo Clinic can be an important part of your clients' overall financial and estate plans. That's why we're committed to working with you to ensure your clients find the charitable arrangements that best meet their needs. We believe charitable planning is a process that ideally involves the donor, professional advisors and our gift planning staff — all working together to arrange the best gift possible.

Need more information? Please contact anyone on our team, or for immediate assistance please contact giftplanning@mayo.edu or 1-800-297-1185.

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Not Sure How to Begin Planning?

Download our FREE Personal Estate Planning Kit
ORG-20092912

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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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