Using Business Stock for Donations
Charitable Giving Strategies for the Business Owner
If you hold stock in a closely held business, you may be able to use that stock as a powerful way to support high-quality patient care in our community for generations to come.
Closely held stock* is most often used to support our work in the form of an outright gift. You can make a gift of closely held stock as long as the constituting documentation for the business permits additional owners and it is debt-free. The donation of closely held stock first requires you to value the interest in the business entity. With an outright gift, you enable us to meet our most urgent needs in our community. You will have the opportunity to see your generosity in action and will also receive an immediate federal income tax charitable deduction, when you itemize.
Review this checklist to see if you may benefit from donating closely held stock. Then, consult your professional legal and tax advisors to see how to maximize the benefits of this tax-efficient strategy for making a difference.
- You are a majority shareholder in a closely held corporation.
- You would like to remove retained earnings from the corporation, without having them taxed again.
- You would like to maintain a controlling position in the corporation's outstanding stock.
- You would like to avoid capital gains taxes on the shares you donate to Good Samaritan Foundation, Mary Bridge Children's Foundation, MultiCare Health Foundation or South King Health Foundation.
- You would like to receive a federal income tax deduction for the full appraised value of the gift.
- You would like to support excellent patient care in our community.
Click on the links below to see the additional ways to fund your gift with closely held stock:
- A gift in your will or living trust.
- A charitable gift annuity.
- A charitable remainder trust.
- A charitable lead trust.
* A gift of closely held stock requires special handling, so you should always consult with your legal or tax advisor first.
Make Your Annual Gift Last Forever
Each year we rely on your gift, along with many others, to help us meet our goals and make a difference in the lives of others. To ensure that our programs and funding do not suffer, please take time now to consider leaving an endowed gift—a generous statement that will truly last forever.
|If your annual gift is:||Perpetuate it by giving:*|
*At a 4 percent endowment spending level, 25 times an annual gift amount equals an endowed perpetual gift.
Ready for Next Steps?
- Seek the advice of your financial or legal advisor. (Need an advisor? Look here for advisors familiar with MultiCare foundations and services.)
- Contact Frank J. Colarusso, Gift Planning Manager, at 253.403.1262 or firstname.lastname@example.org or Shelley J. Buck, Planned Giving Manager, at 253.403.3093 or email@example.com for additional information on giving a gift of closely held stock.
- If you include Good Samaritan Foundation, Mary Bridge Children's Foundation, MultiCare Health Foundation or South King Health Foundation in your plans, please use our legal name and federal tax ID number.