Closely Held Stock

As an owner of a closely held or family business, you may be considering a family foundation — but have discovered that there are restrictions applying to private foundations and closely held business interests.

A partnership with the Springfield Foundation is a cost-effective way to maximize your philanthropic options while minimizing your tax liability. The Springfield Foundation can be particularly helpful in the following instances:

• Helping to pass ownership of your company to children or key employees while not straining available assets and liquidity
• Selling your company and planning to minimize estate taxes
• Getting equity out of your company to provide income
• Creating a family philanthropic program using the assets of your business

Please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it , Development Manager, at 937.324.8773 to learn more about gifts of closely held stock.

Limited Partnerships

If you own limited partnership interests, such as investment or business partnerships, you can contribute them to the foundation. Individuals holding family limited partnership interests can also consider this type of charitable gift.

While donations of these and other more complicated assets require care, consideration and planning, the community foundation has the flexibility and expertise to accept them in most cases.

Life Estates

You can benefit today from the future gift of a home or vacation home. You can continue to live in the home for life and enjoy a current income tax deduction. The Springfield Foundation will ultimately sell the property and use the proceeds to support the charitable purposes you care about most.

Retirement Plan Assets

The legacy intended for your children or other heirs could amount to just 30 cents on the dollar as a result of combined estate tax and income taxes on the IRA.

Naming the Springfield Foundation as the beneficiary of your IRA will completely avoid both estate and income taxes and create a permanent legacy in your honor.

Leaving a bequest of an IRA to the Springfield Foundation can be a sound part of an estate plan, especially if you already have provided for your children, and they don’t need the income stream produced by the IRA.