In October 2014, Cleco Corporation announced that it entered into an agreement to be acquired by a North American investor group led by Macquarie Infrastructure and Real Assets and by British Columbia Investment Management Corporation. When this transaction takes place, Cleco stock will be redeemed, and any gain investors have in the stock will be recognized in the year the stock is sold.
This provides a unique opportunity for Cleco shareholders to donate to non-profit organizations and save on taxes at the same time. If you want to avoid paying taxes, instead of selling your stock you can donate it (you determine how many shares) to a school, church or other charitable organization prior to the completion of the Cleco merger, which is currently expected to be finalized in October of 2015.
If you are considering this donation vehicle, your EBC Finance Committee encourages you to support the ministries of Emmanuel Baptist Church with your gift. Please consult your CPA or financial advisor to see if this option is right for you.
Pat McKee is available to talk to you about a donation to Emmanuel. She can be reached by calling the church office at 442-7773 or emailing firstname.lastname@example.org.