Closely Held Business Stock

A business owner who contributes closely held stock to 92NY 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 92NY for cash. This not only enables the donor to retain complete control over the company but also makes cash available to 92NY for its current needs. As long as 92NY is not obligated to sell the stock to the corporation, the transaction should produce no adverse tax results.

Contact Us

212.415.5755
Friends@92NY.org

The 92nd Street Y, New York
1395 Lexington Avenue
New York, NY 10128
Federal Tax ID #13-1624229

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The 92nd Street Y, New York is a 501(c)(3) nonprofit organization registered in the US under EIN: 13-1624229. Charitable contributions supporting The 92nd Street Y, New York are tax-deductible to the extent allowed by law. Gifts may not be fully tax-deductible based on benefits received. For more information, please email the Friends of 92NY office.

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For more information, please email the Friends office or call 212.415.5755.