PSU College of Medicine Penn State Health

Gift Planning

Donor Advised Fund

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Penn State campus

Gift Planning

Donor Advised Fund

Watch to Learn More

Support What Matters

Learn more about donor advised funds. View and download the FREE guide Centralize Your Giving With Donor Advised Funds.

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Harness the Giving Power of a Private Foundation

A donor advised fund (DAF), which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Penn State and other charities.

You transfer cash or other assets to a tax-exempt sponsoring organization such as a public foundation. You can then recommend—but not direct—how much and how often money is granted. You can create a lasting legacy by naming your loved ones as your successor to continue to recommend grants to charitable organizations, or name Penn State as a beneficiary to receive all or part of the account after your lifetime. With a donor advised fund, you also avoid the cost and complexities of managing a private foundation.

In return, you qualify for a federal income tax charitable deduction at the time you contribute to the account. This also allows for a centralized giving and record-keeping system in one location. If you would like to make a gift through your donor advised fund to any of Penn State’s colleges or campuses, including Penn State Health, please follow these instructions:

Make all checks payable to “The Pennsylvania State University” (Tax ID: 24-6000376) and send to the following mailing address:

The Pennsylvania State University
Office of Donor & Member Services
329 Innovation Blvd, Suite 311
State College, PA 16803

Those who give to Penn State through their donor advised fund do not receive a tax receipt from the University when the grant recommendation funds are secured, as they receive their tax deduction at the time that their contribution is made.

Build Your Philanthropic Legacy through the Penn State Giving Fund

Penn State has teamed with BNY Mellon Charitable Gift Fund™ as our sponsoring charitable organization to provide concierge service when opening and managing your own donor advised fund with the Penn State Giving Fund. By creating a fund—named the way you choose—you can establish one source of support to fuel all of your charitable contributions, including a portion that may be directed strategically over time to support the University initiatives that you care about.

To get started, visit the website—and be sure to view more information on the benefits of creating your own Penn State Giving Fund here.

An Example From Penn State

Ken Kulju

Alum Ken Kulju recognized an investment opportunity when he learned about the Penn State Giving Fund, which allows supporters to create their own personalized giving fund to benefit the University.

Read More

Personal Estate Planning Kit

Not Sure How to Begin Planning?

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Your Next Steps

  1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.
  2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.
  3. Contact The Office of Gift Planning at 888-800-9170 (toll free) or giftplanning@psu.edu to discuss using donor advised funds to support Penn State and our mission.
  4. Seek the advice of your financial or legal advisor.
  5. If you include Penn State in your plans, please use our legal name and federal tax ID.

Legal Name: The Pennsylvania State University
Address: c/o Office of Gift Planning, 329 Innovation Boulevard, Suite 313, State College, PA 16803-6606
Federal Tax ID Number: 24-6000376

A charitable bequest is one or two sentences in your will or living trust that leave to Penn State University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

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

"I give to Penn State University, a nonprofit corporation currently located at c/o Office of Gift Planning, 329 Innovation Boulevard, Suite 313, State College, PA 16803-6606, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 Penn State 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, timeshare property, 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 our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Penn State as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Penn State 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 Penn State where you agree to make a gift to Penn State 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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