Mayo Clinic saw the value of noncash gifts jump last year — and the tally doesn't even factor in the old Mayo rocking horse.
Among Minnesota nonprofits, Mayo routinely stands out for receiving millions of dollars' worth of gifts each year that aren't cash, but tangible items such as stock, real estate, artwork and collectibles.
The donations are detailed in IRS filings made public in November, and the most recent release shows noncash contributions to the clinic in 2017 were up 57 percent over the previous year, to $33.8 million.
The filing didn't place a value on a number of historical artifacts that were donated in 2017, but the gifts include a rocking horse from descendants of one of its founders and other items that can be traced to the Rochester-based clinic's founding family.
"The Mayo family heirlooms include a rocking horse that was created decades ago by the Mayo family's handyman as a gift to the Mayo children," the clinic said in a statement. "Additional items include a silver platter dated 1911 and engraved with Dr. Charles H. Mayo's initials [and] detailed Mayo family genealogical information."
Mayo Clinic is the largest nonprofit group in Minnesota, with hospitals and clinics in five states. While the clinic has raised billions in recent years via capital campaigns, the value of noncash contributions from donors is much smaller. A Star Tribune review of IRS filings shows a total of about $144 million in noncash gifts between 2011 and 2017.
The filing by Mayo for 2017 shows most of the noncash gift value came in the form of publicly traded securities. The clinic also received other types of investments, works of art and real estate, both commercial and residential.
Over the years, noncash gifts have included a Lincoln Town Car, a wheelchair-accessible van and the occasional historical artifact. In 2016, a donor gave a baseball that was signed by legend and former Mayo Clinic patient Lou Gehrig.
