Gifts of Closely Held Business Interests
Why Give Closely Held Business Interests?
For many business owners, a closely held company represents a significant portion of their wealth. Contributing business interests prior to a sale or liquidity event may create meaningful charitable and tax advantages.
Potential Benefits of Donating Closely Held Business Interests:
- Bypass capital gains tax on donated shares
- Receive charitable income tax deduction based on appraised value of the gift
- Maximize your charitable impact with a tax-free sale of donated shares
- Supporting succession, estate, and legacy planning goals
- Creating a flexible charitable giving vehicle through a fund at Community Foundation Tampa Bay
Types of Closely Held Business Interests You Can Donate:
How it Works
- Start the Conversation
Connect with our team early in the planning process to discuss your goals, especially if a business sale or transition may be on the horizon. Working with the Community Foundation can help maximize potential tax and charitable benefits.
- Evaluate and Structure the Gift
Community Foundation Tampa Bay and your advisors will review the ownership structure, valuation considerations, transfer restrictions, and timing of the proposed gift.
- Transfer Business Interests
Once the gift structure is finalized and approved, ownership interests are transferred to Community Foundation Tampa Bay. We sell the donated shares tax-free and direct the proceeds to support your charitable fund.
- Support the Causes You Care About
Your fund can provide long-term support for the nonprofits and charitable causes that matter most to you, creating a lasting philanthropic legacy.
Carl and Lyda Lindell Create a Charitable Legacy with Closely Held Business Interests
Carl Lindell arrived in Tampa in 1969 and spent the next 55 years building a diverse portfolio of nearly 60 businesses valued at $130 million. When he and his wife, Lyda, created their estate plan, they decided to do things differently. Instead of selling the businesses or transferring them to heirs, he donated the majority of his business interests to a family foundation managed by Community Foundation Tampa Bay. Over the next 15 years, these assets will be carefully sold, with the proceeds directed to causes meaningful to the Lindells. They hope their decision encourages other business owners to consider charitable planning as part of their transition strategy. Donating all or part of a closely held business can unlock significant resources to benefit the community.
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Ask Max
Our AI charitable planning assistant can help you compare gift options, understand potential benefits, and answer common questions as you consider the best way to support the causes you care about.
- Secure, expert-informed guidance to support your charitable planning
- Quick answers to common charitable giving and estate planning questions
- Interactive gift comparison tools to help you evaluate your options
Chat with Max™ now or connect with a member of our team below to start the conversation and learn more.
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