A donor-advised fund (DAF) is a type of giving program that allows you to easily support your favorite charities. You can contribute cash, securities, or other assets to a donor-advised fund at a public charity and can then recommend grants to any eligible IRS-qualified public charity. You can also be eligible for certain tax benefits by establishing a DAF. An increasingly popular charitable vehicle, DAFs are an excellent way to both simplify your charitable giving and facilitate your strategic philanthropic goals. You can make a gift to MIT through an existing DAF, including making MIT a beneficiary of your DAF, or establish one at MIT!

 

Making a Grant to MIT

If you already benefit from donor-advised funds and would like to send a gift to MIT (Tax ID: 04-2103594), below are steps to guide your grantmaking:

GRANT VIA CHECKGRANT VIA WIRE/ACH
Please make grant payable to Massachusetts Institute of Technology, and mail to: Please make grant payable to Massachusetts Institute of Technology, and send to: 
Massachusetts Institute of Technology
P. O. Box 412926
Boston, MA 02241-2926		Bank of America, NA
100 Federal Street
Boston, MA 02110

Wire Payment ABA Routing Number: 026009593
ACH Routing Number: 011000138
Account Number: 004622832542 
Account Name: MIT RSO Gift Receipts
SWIFT Code: BOFAUS3N 
  • To further designate your MIT grant to a specific area/fund, please note this in the “Other/Write Your Own” section of the grant request form.
  • For accurate receipting and recognition, please include your name and address in the grant details.
  • MIT’s tax identification number is 04-2103594. Searching by MIT’s tax ID will ensure you have the correct grant recipient.
  • Some DAF providers, such as Fidelity Charitable, will send your grant electronically to MIT.

If you are a DAF provider looking to connect with an MIT representative to verify information regarding a grant, please contact the MIT Office of the Recording Secretary at recsec@mit.edu.

 

MIT’s tax identification number is 04-2103594.

If your DAF is with Fidelity, Schwab, or BNY Mellon, you can use the DAFDirect tool to be redirected to your provider’s log-in page for initiating your grant to MIT.

 

Establishing an MIT Donor-Advised Fund

An MIT Donor-Advised Fund (DAF) allows donors to establish a charitable account maintained and managed by MIT from which donor-advised distributions can be made from time to time to MIT, as well as to other charitable organizations.

For a confidential discussion about an MIT DAF, contact Amy Goldman, Senior Director of Gift Planning, at 617.715.2932 or goldmana@mit.edu or Michelle Rhodes, Director, Gift Planning at 617.324.7591 or mrhodes@mit.edu.

  • Invested in the MIT endowment (Pool A) with no administrative fees
  • Flexibility to make grant recommendations
  • Ability to maintain anonymity and privacy
  • Elimination of the need for an administrative or family office
  • Significantly lower expenses
  • Potentially qualify for tax benefits

Any individual, trust, corporation, estate, or private foundation may establish a DAF account with MIT. Donors who do not file income taxes in the United States will be reviewed in line with our gift acceptance policies for international donors.

An MIT Donor-Advised Fund may be opened with a gift of $1 million or more. MIT will accept gifts of cash and marketable securities and, at its discretion, may accept other types of assets.

In looking to give a charitable contribution, donors may contemplate the difference between an MIT DAF and a private foundation. View this comparison chart to see key differences between these two giving vehicles.