Gifts of Business Interests
As a business owner, you have the opportunity not only to build your business and accumulate wealth for yourself and your family, but also to accomplish your philanthropic goals through charitable planning. A gift of your corporate stock or assets can provide you with tax and income benefits and help further our mission.
Benefits of gifts of business interests
- Receive a charitable income tax deduction
- Avoid tax on the sale of your business stock or assets
- Receive lifetime payments if your business stock or assets are used to fund a planned gift
How gifts of closely held stock work
- Give a percentage of your voting or non-voting shares in your business to us outright and receive an income tax deduction. We will hold your shares for a future sale or redemption and can use any dividends paid for our charitable purpose.
- Give a percentage of your voting or non-voting shares in your business for a donor advised fund (DAF) and receive a charitable deduction. The DAF will hold your shares for a future sale or redemption and can use any dividends paid for charitable grants. On an annual basis, you can advise us on how to make grants from the fund to your favorite charitable causes.
- If your corporation is an S corporation, there are special rules that apply to gifts of corporate stock. Please contact us to discuss the most tax-efficient way to structure your stock gift.
How gifts of business assets work
- If your business makes a gift of a non-inventory asset, it will receive a charitable income tax deduction based on the appraised fair market value of the asset.
- The income tax deduction for a gift from a business is limited to 10% of the corporation's taxable income. Your business may carry forward any unused deduction up to five years.
- If your business is an S corporation, the charitable deduction will flow through to the shareholders in proportion to their ownership interest. Check with us on the most tax-efficient way to make a gift of corporate assets from your business
Contact us
If you have any questions about making a gift of a business interest or your business assets, please contact us. We would be happy to assist you and answer your questions.
"Members of the Oxy community who support Oxy through their estate plans have provided us with an incredibly distinctive gift-an infinite investment in the College. We are grateful to these generous donors whose forethought will allow Oxy to deliver our exceptional liberal arts education to generation upon generation of talented students."
- President Harry J. Elam, Jr.
"Oxy showed me that the path to one's goals need not be linear or conventional. I learned how to think, to write, to create; to trust my instincts and pursue my interests with passion and a standard of excellence. Not a day has passed that I have not been rewarded in some way by my Occidental education."
Michael and his wife Pamela recently documented an estate gift to support the Obama Scholars Program and the EdgertonOccidental Merit Scholarship.