February 8, 2024

Can you donate privately owned business interests to private foundations?

by: Kyle Anderson

Private foundations have the ability to accept donations of private business interests but they face intricate legal, tax, and regulatory complexities in doing so. The scope of eligible business interests for donation encompasses a wide range, including shares in closely held corporations (both C and S types), memberships in LLCs, limited partnership interests, stakes in private equity and hedge funds, as well as pre-IPO shares. Although the process is complex, the donation of private business interests to private foundations can unlock significant philanthropic and financial rewards. However, it is highly advisable to seek specialized legal and accounting guidance to ensure a smooth and compliant donation process.

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Kyle's services have been invaluable to our foundation.

His deep understanding and expertise have made even the most complex tax processes simple and easy to understand. He is very easy to work with offering quick turnarounds and ongoing support.

Angel Velitchkov
President, St. Nicholas Foundation