| If you hold shares in a family or privately owned business, you can contribute them outright to the community foundation and receive a deduction for the appraised fair market value. In doing so, you will avoid capital gains tax on any of the stock's appreciated value. You will also be entitled to a deduction for the full value of the stock, up to 30% of your adjusted gross income in the year your gift is made.
We require a "qualified appraisal" if the claimed value of the stock is greater than $10,000. Following receipt of your gift, the community foundation may sell the stock back to the corporation or other shareholders for cash. However, there can be no prior agreement between our foundation and a potential buyer before you make your gift.
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