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 our future.
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.
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 Wayne State University.
- You would like to receive a federal income tax deduction for the full appraised value of the gift.
- You would like to support our mission.
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.
Donor Spotlight Elizabeth Buc
“Although I attended three separate universities, my support goes to Wayne State because of the impact it has had on my career, the relationships with faculty and others that were formed, and the important educational role it will continue to play for future students.”
Donor Spotlight Mildred Kaye
“I have greatly enjoyed meeting the students who receive scholarships from our fund. I recommend that everyone consider creating an endowed scholarship fund!”
Donor Spotlight Marie A. Tront
“Attending Wayne State was one of the most rewarding experiences of my life. I want to be sure that the intellectual stimulation of an urban university is there for future generations. By naming Wayne State in my trust, I can make a larger gift than I would be able to by check.”
Donor Spotlight Mel Janowitz
“I am a strong believer in charitable gift annuities as a pension supplement. I have two at Wayne. The interest rate is many times what I can get elsewhere, and it is only partially taxable. With a CGA to Wayne State, I can arrange for the money to be used to help needy students, support research endeavors, or help fill other needs.”
Donor Spotlight Austin & Daniel Kanter
“Wayne was there for me when I needed it. We wanted to give back. The marvelous letters from the scholarship recipients have brought great pleasure over the years. Harriet would have enjoyed them.”
- Contact Tina Daniels at (313) 577-8346 or email@example.com for additional information on giving a gift of closely held stock.
- Seek the advice of your financial or legal advisor.
- If you include WSU in your plans, please use our legal name and federal tax ID.
Legal Name: Wayne State University
Address: 5475 Woodward Ave, Detroit, MI 48067
Federal Tax ID Number: 38-6028429