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Charitable Foundation

Giving Opportunity: Closely Held Stock

If you own a sizable block of stock in a closely held corporation, you may donate some shares (few enough so that you retain 50% ownership) to White Memorial Medical Center. The Charitable Foundation will then present the stock to your corporation for redemption.

There are some important restrictions to this option, so check with the White Memorial Medical Center Charitable Foundation or your personal attorney first.

Benefits of donation of closely held stock include:

  • Income tax deduction for the charitable contribution
  • No capital gains tax on the appreciation in value
  • No second tax on accumulated earnings by averting a dividend distribution
  • You maintain control of the corporation

If you would like more information about making a gift to the White Memorial Medical Center Charitable Foundation, please call us at (323) 260-5739.

The White Memorial Medical Center Charitable Foundation is licensed by the City of Los Angeles-Police Commission Charitable Services Section to make appeals for charitable donations. If you would like to see a copy of our permit, please contact us.