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Business Interests

SUMMARY
Transferring or selling your business can come with great philanthropic potential. Gifts of business interests can be tax advantageous and have a great charitable impact. The process of donating business interests will include collaboration between you, the Foundation, and your financial professionals.

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How It Works​

  • Before proceeding, you must be sure there are no restrictions on the transferability of the shares and that you have not used the shares to secure a loan from the corporation or partnership.
  • The gift is made by transferring shares or partnerships in your business.
  • A gift of business interest can benefit everyone. However, the Foundation must consider marketability, liability, and involvement in business operations before approving any such transfer.
  • The Foundation will send the donor a “contemporaneous written acknowledgment” that contains the language necessary for you to claim a charitable income tax deduction.

Benefits

  • You can make a significant gift that benefits you and the Foundation during your lifetime without using your cash reserves.
  • You will receive a charitable income tax deduction for the appraised value of the shares, and you will not have a capital gains liability for the transfer to the Foundation. 
  • You receive a gift credit and an immediate income-tax deduction for the appraised value of your shares or partnerships, even if their original value was close to zero.
  • Under certain conditions, you may be able to use a partnership interest to fund a life-income arrangement, such as a charitable unitrust, for yourself or your heirs.

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