Cornell University Foundation

The Cornell University Foundation is a convenient, cost-effective alternative to commercial charitable gift funds or the legal complexities and expense of establishing and operating a private foundation.

What is the Cornell University Foundation?

The Cornell University Foundation – A Donor Advised Fund is a service for Cornell alumni and friends who wish to make charitable gifts through the structure of a “donor-advised fund.” Once an account is established by making a contribution, you advise Cornell of gifts you wish to make out of your account to eligible charities. The University handles all payments and administration with full documentation to you and the charitable recipient.
The Foundation is especially convenient for individuals who make substantial gifts to charity and have a number of charitable interests, including Cornell. It is a convenient, cost-effective alternative to commercial charitable gift funds or the legal complexities and expense of establishing and operating a private foundation.

Why should I consider the Cornell University Foundation?

Enhance your Philanthropy

• Follow your own timetable. Donor-advised distributions can be immediate or deferred until you are ready to make them.
• There are no minimum annual distributions to charity, unlike a private foundation.
• You can give your children or other family members advisory privileges to carry on your philanthropy. This can instill philanthropic values among your family.

It's Easy

• It’s easy to establish and add to your account.
• Give to multiple charities with no checks to write.
• Cornell provides the administrative record keeping and tax reporting.
• Full documentation will be provided to you, your family, and the charitable recipient.

Tax Benefits

• Gifts are income tax-deductible in the year of your contribution.
• Avoid capital gain taxes on gifts of appreciated assets.
• Remove assets from your taxable estate.

No Cost

• No legal fees, set-up, administrative, investment, or accounting costs.
• Why pay fees (often 1.5% to 2.5%) to a commercial donor-advised fund?

Excellent Fund Management

• Making gifts of appreciated assets through the Foundation is advantageous to you and to charities not equipped to sell stock or real estate.
• Your gift will be invested in the endowment of Cornell University benefiting from professional investment management.

Who is an eligible donor?

Individuals, trusts, estates, and companies (a wise alternative to establishing costly corporate giving programs).

What assets can I contribute?

Cash, marketable securities, closely held stock, gifts-in-kind, real estate, stock options, pre-IPO or venture stock, retirement plan funds, and insurance.

Can I transfer an account from a commercial donor-advised fund?

Absolutely. Call us for assistance.

What’s the minimum contribution?

The minimum initial Foundation gift is $25,000. All gifts are irrevocable. Additional contributions in any amount can be made at any time: in lifetime and through your estate.

What portion must I commit to Cornell?

For accounts under $500,000, 50 percent or more of the funds contributed must eventually be allocated to Cornell. For accounts greater than $500,000, 25 percent must be allocated to Cornell. The balance can go to any recognized charity in the U.S. For accounts greater than one million, there is no minimum Cornell allocation.

How does Cornell recognize my contribution?

You will receive gift credit at the time you distribute funds to Cornell University from your account. Also, you will be invited to join the Cornell University Cayuga Society. This is a society that honors individuals who have established a planned gift at Cornell.

How can Cornell’s Office of Trusts, Estates & Gift Planning be of assistance?

We are charitable planning specialists and have resources available to fully support both your investigation and implementation of gift planning techniques. Our services are professional, confidential, collaborative and provided without cost or obligation. We encourage you to call on us to assist you, your family and advisors in exploring financial, estate and charitable planning.

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