Closely Held Business Stock

A business owner who contributes closely held stock to Monmouth 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 Monmouth for cash. This not only enables the donor to retain complete control over the company but also makes cash available to Monmouth for its current needs. As long as Monmouth is not obligated to sell the stock to the corporation, the transaction should produce no adverse tax results.

More Information

Contact Us

Gena Alcorn '88, CFRE
Assistant Vice President for Development and Legacy Giving
309-457-2427
galcorn@monmouthcollege.edu

 

Monmouth College
700 E. Broadway
Monmouth, IL 61462
Federal Tax ID Number: 37-0661228

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