Mark Barbaro Uses Philanthropy to Support Mount Vernon and Create a Source of Future Income

A regular visitor to George Washington’s Mount Vernon since his grade school days, Mark Barbaro appreciates all the work being done to preserve America’s first president’s historic estate and legacy. That’s why, after selling a successful paving business and realizing a one-time “windfall” increase in income, he elected to support Mount Vernon with philanthropic giving that also helped to significantly reduce a large tax burden.

In 2023 Mark established a charitable gift annuity (CGA) and created a donor-advised fund (DAF), providing personal benefits and support to Mount Vernon for years to come. He discovered that, in addition to providing guaranteed lifetime income, a CGA offers important immediate and future tax advantages. The same is true of the new DAF he established, from which he will provide additional future support to Mount Vernon.

“I wish I had known about the annuities earlier,” Mark says. “They are a good way to give to charity while getting a financial return on the money you donate. By establishing a donor-advised fund, I’m also able to provide additional support over time while allowing donated funds to grow completely tax free.”

A boating enthusiast, Mark often visits Mount Vernon after landing his vessel at the estate’s wharf on the Potomac River. He also appreciates the view of the river from the mansion’s veranda, he says.

“I’ve been going there since fourth or fifth grade,” Mark says. “Every time we go, we learn something new—and it’s never been disappointing. I like seeing how things were done back in the day.”

A Mount Vernon member since 2016, Mark hopes his charitable support will enable the important preservation work taking place at Mount Vernon to continue well into the future. He also encourages others to join him in making a planned gift.

“I think the annuity is a great way to give a gift and get a return in the future,” Mark says. He adds that establishing a DAF allowed him to enjoy a tax advantage upfront while laying the groundwork for future charitable giving. “I don’t think you can beat that combination,” he says.

To discuss how you can assist George Washington’s Mount Vernon, please contact our Development Office for ideas that meet your philanthropic and financial planning objectives.