Simplify Your Giving
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
Create a donor advised fund with one of the following assets:
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.
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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.
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