Closely Held Business Stock
How It Works
- You make a gift of your closely held stock to the Cleveland Museum of Art and get a qualified appraisal to determine its value
- You receive a charitable income-tax deduction for the full fair-market value of the stock
- The Cleveland Museum of Art may keep the stock or offer to sell it back to your company
Benefits
- You receive an income-tax deduction for the fair-market value of stock
- You pay no capital-gain tax on any appreciation
- Your company may repurchase the stock, thereby keeping your ownership interest intact
- The Cleveland Museum of Art receives a significant gift
Next Steps
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