Gift of Partnership Interests
How it works
- You convey a partnership interest to the American Red Cross.
- Depending on the circumstances, the Red Cross may choose to continue the partnership interest or sell it and use the proceeds for its programs.
Benefits
- You receive gift credit and an immediate income tax deduction for the appraised value of the donated partnership interest, net of any liabilities that might pertain to it.
- Under certain conditions, you may be able to gift a partnership interest to a life-income arrangement, such as a FLIP Unitrust.
- You can have the satisfaction of making a significant gift that benefits both you and the Red Cross during your lifetime.
For more information, e-mail Elizabeth Ganocy at ganocye@redcross-cleveland.org or call 216.431.3216 so that we can assist you through every step of the process.
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