Designating Mayo Clinic as beneficiary of your bank accounts, certificates of deposit or brokerage accounts is a simple and straightforward way to support our work. There are two options you can use to make this gift to us:
Payable on death (POD).* By placing a POD designation on your bank account or certificate of deposit, you can name one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until then, you remain in control and can use the money in the bank account, change the beneficiary or close the account.
By setting up your bank account or certificate of deposit in this way, the estate planning and administration process is simplified. The executor or administrator of your estate will not have to take any action to ensure that your account transfers to whomever you designated. Simply ask your bank representative about the one or two easy steps you need to take in order to place a POD designation on your bank account or certificate of deposit.
Transfer on death (TOD).* By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity — you can designate a certain percentage of the account. Like a POD account, with a TOD account the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.
A TOD designation also simplifies the estate planning and administration process. The executor or administrator of your estate will not have to take any action to ensure that your securities transfer to whomever you designated. To set up the TOD endorsement, simply contact your investment advisor and provide instructions regarding the change.
*State laws govern payable on death accounts and transfer on death accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.
Make a Distribution to Mayo Clinic Through Your Donor Advised Fund
If you have a donor advised fund with another provider, please consider making a distribution to Mayo Clinic or listing us a final beneficiary. You may request an immediate distribution utilizing the tool below.
Take Action! Visit Your Fund
1. Recommend a grant
2. Impact Mayo Clinic
This search tool will open a third-party website, owned and operated by an independent party. We assume no responsibility for the material.
- Contact Mayo Clinic Office of Gift Planning at firstname.lastname@example.org or 1-800-297-1185 for additional information.
- 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
Address: 200 First Street SW, Rochester, MN 55905
Federal Tax ID Number: 41-6011702
Not Sure How to Begin Planning?Download our FREE Personal Estate Planning Kit
Get Your Free Kit
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.
Be Our Partner for the Future
Learn how you can become a member of The Mayo Legacy in our guide Planning Your Philanthropic Legacy: Estate Giving at Mayo Clinic.
Contact the Mayo Legacy
Jess Nelson LeMay
TML Phone: 1-844-330-5855
TML E-Mail: TheMayoLegacy@mayo.edu
Information contained herein was accurate at the time of posting. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Mayo Clinic policies may impact gift acceptance, gift structure, and options available. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.