A business owner who contributes closely held stock to Deerfield will be allowed a charitable deduction for the fair-market value of the stock. An additional benefit is that the donor will escape the potential capital-gain tax on any appreciation in the value of the stock.
Subsequent to the gift, the corporation could purchase the stock from Deerfield for cash. This not only enables the donor to retain complete control over the company but also makes cash available to Deerfield for its current needs. As long as Deerfield is not obligated to sell the stock to the corporation, the transaction should produce no adverse tax results.
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Jessica Remillard P’26, Planned Giving Coordinator Email: plannedgiving@deerfield.edu |
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Jessica Remillard P’26, Planned Giving Coordinator
(413) 774-1584
Deerfield Academy
Office of Advancement
7 Boyden Lane
P.O. Box 306
Deerfield, MA 01342
plannedgiving@deerfield.edu
7 Boyden Lane, Deerfield, MA 01342
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