All securities - and cryptocurrency - are regarded as property by the IRS. For INTERNAL counting purposes we should as nearly as possible calculate the legal value and count that in our fundraising totals.
Receipts should only describe the property gift with no value information per IRS Publication 1771.
Donors can be encourage to review IRS Publication 561 for information on valuing property gifts. And perhaps reminded that they may need to file an 8283.
At the download site, you will find a paper I wrote several years ago pertaining to receiving gifts of securities.
John
John Taylor
919.816.5903
johntaylorconsulting@gmail.com
Big ideas; small keyboard
> On Feb 27, 2019, at 8:07 AM, Mary L. Oliver <
oliverm@wittenberg.edu> wrote:
>
> Building on Katherine’s question, are bonds treated the same as securities in terms of CASE standards and counting? I’m relatively new to both my position and the field in general, and we have received a gift of a state bond for the first time during my tenure.
>
> Thank you!
>
> Mary
>
> Mary Oliver
> Director of Advancement Services
> Wittenberg University | PO Box 720 | Springfield, OH 45501
> Tel: 937.327.7421 | Fax: 937.327.7444 | Email:
oliverm@wittenberg.edu
>
> Save the Date!
> #Commit2Witt Day is April 24, 2019
>
> From: Advancement Services Discussion List [mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of John Taylor
> Sent: Tuesday, February 26, 2019 5:40 PM
> To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
> Subject: Re: [FUNDSVCS] US Treasury Note
>
> TreasuryDirect might be a source for INTERNALLY valuing your note:
>
>
https://www.treasurydirect.gov/instit/annceresult/annceresult.htm
>
> If you cannot find a verifiable value I would use the figure provided by your broker. But the receipt to your donor should only describe what they gave without any indication of an amount.
>
> John
>
> John H. Taylor
> Principal, John H. Taylor Consulting
> 2604 Sevier St.
> Durham, NC 27705
>
johntaylorconsulting@gmail.com
> 919.816.5903 (cell/text)
>
> Serving the Advancement Community Since 1987
>
>
> On Tue, Feb 26, 2019 at 4:50 PM Huck, Katherine M <
huckk@canisius.edu> wrote:
> We received multiple securities as part of an estate transfer. Included in the stocks and bonds is a US Treasury Note with a mature value of $10,000 on 1-31-2023. The market value of the transfer is $9,940.63. I was not sure how or if I needed to provide a charitable valuation for this? I did enter the Cusip ID in the FINRA website and there is no trading (which I expected but checked anyway). Thank you in advance for any responses.
>
>
> Katherine Huck
> Director of Advancement Services
> Canisius College
> 2001 Main Street
> Buffalo, NY 14208
> (P) 716-888-8211
>
>
>