You give shares of closely-held stock to the William & Mary.
W & M may hold the shares and collect the dividends, or it may offer the stock back to your company for redemption or re-purchase. W & M will apply dividends or the proceeds to the purposes you wish to support.
You receive gift credit and an immediate income tax deduction for the appraised value of your shares, even if their original value was close to zero.
You pay no capital gains tax on any appreciation that has taken place in the shares.
Under certain conditions, you may be able to use closely-held shares to fund a life-income arrangement.
You can make a significant gift that benefits both you and W & M during your lifetime without using your cash reserves to do so.