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We received several securities transferred to us as part of an estate gift. Generally, we will take the high and low values for the securities the day we received them, and use the mean to enter a value of the gift in our system. However, several of the recent securities we received don't have trading information available for the day we received them. The information is available for both days on either side of the trade. For the purpose of entering a value in our system, would it be a reasonable alternative to take the closing value of the previous day and the opening value of the following day? Gwen -- *Gwen Donev* Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu Office: 507.933.6515

Great; thanks! On Tue, Mar 19, 2019 at 11:36 AM John Taylor <johntaylorconsulting@gmail.com> wrote: > More accurately you would take the average on the day before and the > average on the day after and then average those. > > Of course this is for your own internal purposes as you should not declare > a value for the donor's tax purposes per IRS Publication 1771. Your > receipt should only provide a description. > > John > > John Taylor > 919.816.5903 > johntaylorconsulting@gmail.com > > Big ideas; small keyboard > > On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@gustavus.edu> wrote: > > We received several securities transferred to us as part of an estate > gift. Generally, we will take the high and low values for the securities > the day we received them, and use the mean to enter a value of the gift in > our system. However, several of the recent securities we received don't > have trading information available for the day we received them. The > information is available for both days on either side of the trade. > > For the purpose of entering a value in our system, would it be a > reasonable alternative to take the closing value of the previous day and > the opening value of the following day? > > Gwen > > -- > *Gwen Donev* > > Director of Advancement Services > > Gustavus Adolphus College > > 800 West College Avenue > > Saint Peter, Minnesota 56082 > > > > Email: gwendonev@gustavus.edu > > Office: 507.933.6515 > > -- *Gwen Donev* Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu Office: 507.933.6515

nice synopsis here from Vanguard… https://cdn.vcapps.org/sites/default/files/upload/HVYCW_How%20to%20value%20your%20contribution_12018_12.pdf <https://cdn.vcapps.org/sites/default/files/upload/HVYCW_How%20to%20value%20your%20contribution_12018_12.pdf> Donna Rex 105 Osprey Ridge Way Ponte Vedra Beach, FL 32082 donnafund@gmail.com Mobile 904.910.9140 > On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@GUSTAVUS.EDU> wrote: > > We received several securities transferred to us as part of an estate gift. Generally, we will take the high and low values for the securities the day we received them, and use the mean to enter a value of the gift in our system. However, several of the recent securities we received don't have trading information available for the day we received them. The information is available for both days on either side of the trade. > > For the purpose of entering a value in our system, would it be a reasonable alternative to take the closing value of the previous day and the opening value of the following day? > > Gwen > > -- > Gwen Donev > Director of Advancement Services > Gustavus Adolphus College > 800 West College Avenue > Saint Peter, Minnesota 56082 > > Email: gwendonev@gustavus.edu <mailto:gwendonev@gustavus.edu> > Office: 507.933.6515

More accurately you would take the average on the day before and the average on the day after and then average those. Of course this is for your own internal purposes as you should not declare a value for the donor's tax purposes per IRS Publication 1771. Your receipt should only provide a description. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@gustavus.edu> wrote: > > We received several securities transferred to us as part of an estate gift. Generally, we will take the high and low values for the securities the day we received them, and use the mean to enter a value of the gift in our system. However, several of the recent securities we received don't have trading information available for the day we received them. The information is available for both days on either side of the trade. > > For the purpose of entering a value in our system, would it be a reasonable alternative to take the closing value of the previous day and the opening value of the following day? > > Gwen > > -- > Gwen Donev > Director of Advancement Services > Gustavus Adolphus College > 800 West College Avenue > Saint Peter, Minnesota 56082 > > Email: gwendonev@gustavus.edu > Office: 507.933.6515

A follow-up question on this same issue. We couldn't find trade data for some of the securities for the immediate business day before/after the day we received; in some cases the closest date we could get was a week before and the day after; or the day before but not until 2 days after. Would you *weight *the averages based on the time away from the day you received them? Or simply average the closest two days before/after receipt? Looking for best practice as we update our procedures! Thanks On Tue, Mar 19, 2019 at 11:36 AM John Taylor <johntaylorconsulting@gmail.com> wrote: > More accurately you would take the average on the day before and the > average on the day after and then average those. > > Of course this is for your own internal purposes as you should not declare > a value for the donor's tax purposes per IRS Publication 1771. Your > receipt should only provide a description. > > John > > John Taylor > 919.816.5903 > johntaylorconsulting@gmail.com > > Big ideas; small keyboard > > On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@gustavus.edu> wrote: > > We received several securities transferred to us as part of an estate > gift. Generally, we will take the high and low values for the securities > the day we received them, and use the mean to enter a value of the gift in > our system. However, several of the recent securities we received don't > have trading information available for the day we received them. The > information is available for both days on either side of the trade. > > For the purpose of entering a value in our system, would it be a > reasonable alternative to take the closing value of the previous day and > the opening value of the following day? > > Gwen > > -- > *Gwen Donev* > > Director of Advancement Services > > Gustavus Adolphus College > > 800 West College Avenue > > Saint Peter, Minnesota 56082 > > > > Email: gwendonev@gustavus.edu > > Office: 507.933.6515 > > -- *Gwen Donev* Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu Office: 507.933.6515

Personally, I would use the most current actual trading information. But let your CFO weigh-in. These are very rare cases and the CFO may feel that if there is more than a week delay in trades (thinly traded) it might be more appropriate to defer to the Gift Acceptance Committee. 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 Wed, Mar 27, 2019 at 1:26 PM Gwen Donev <gwendonev@gustavus.edu> wrote: > A follow-up question on this same issue. We couldn't find trade data for > some of the securities for the immediate business day before/after the day > we received; in some cases the closest date we could get was a week before > and the day after; or the day before but not until 2 days after. Would you *weight > *the averages based on the time away from the day you received them? Or > simply average the closest two days before/after receipt? > > Looking for best practice as we update our procedures! > > Thanks > > On Tue, Mar 19, 2019 at 11:36 AM John Taylor < > johntaylorconsulting@gmail.com> wrote: > >> More accurately you would take the average on the day before and the >> average on the day after and then average those. >> >> Of course this is for your own internal purposes as you should not >> declare a value for the donor's tax purposes per IRS Publication 1771. >> Your receipt should only provide a description. >> >> John >> >> John Taylor >> 919.816.5903 >> johntaylorconsulting@gmail.com >> >> Big ideas; small keyboard >> >> On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@gustavus.edu> wrote: >> >> We received several securities transferred to us as part of an estate >> gift. Generally, we will take the high and low values for the securities >> the day we received them, and use the mean to enter a value of the gift in >> our system. However, several of the recent securities we received don't >> have trading information available for the day we received them. The >> information is available for both days on either side of the trade. >> >> For the purpose of entering a value in our system, would it be a >> reasonable alternative to take the closing value of the previous day and >> the opening value of the following day? >> >> Gwen >> >> -- >> *Gwen Donev* >> >> Director of Advancement Services >> >> Gustavus Adolphus College >> >> 800 West College Avenue >> >> Saint Peter, Minnesota 56082 >> >> >> >> Email: gwendonev@gustavus.edu >> >> Office: 507.933.6515 >> >> > > -- > *Gwen Donev* > > Director of Advancement Services > > Gustavus Adolphus College > > 800 West College Avenue > > Saint Peter, Minnesota 56082 > > > > Email: gwendonev@gustavus.edu > > Office: 507.933.6515 >

This is so helpful; thanks so much! Gwen On Wed, Mar 27, 2019 at 1:12 PM Mark Metivier

Here are the IRS guidelines from publication 561. Mark https://www.irs.gov/publications/p561#idm140501156165632 [cid:image001.png@01D4E4A7.0ABAC270] Mark W. Metivier Assistant Vice President and Controller UVM Foundation » 411 Main Street » Burlington, VT 05401 Office 802-656-8401 » Mobile 802-488-0449 » mark.metivier@uvm.edu From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Gwen Donev Sent: Wednesday, March 27, 2019 1:25 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Valuing stock transfer A follow-up question on this same issue. We couldn't find trade data for some of the securities for the immediate business day before/after the day we received; in some cases the closest date we could get was a week before and the day after; or the day before but not until 2 days after. Would you weight the averages based on the time away from the day you received them? Or simply average the closest two days before/after receipt? Looking for best practice as we update our procedures! Thanks On Tue, Mar 19, 2019 at 11:36 AM John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: More accurately you would take the average on the day before and the average on the day after and then average those. Of course this is for your own internal purposes as you should not declare a value for the donor's tax purposes per IRS Publication 1771. Your receipt should only provide a description. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Mar 19, 2019, at 12:18 PM, Gwen Donev <gwendonev@gustavus.edu<mailto:gwendonev@gustavus.edu>> wrote: We received several securities transferred to us as part of an estate gift. Generally, we will take the high and low values for the securities the day we received them, and use the mean to enter a value of the gift in our system. However, several of the recent securities we received don't have trading information available for the day we received them. The information is available for both days on either side of the trade. For the purpose of entering a value in our system, would it be a reasonable alternative to take the closing value of the previous day and the opening value of the following day? Gwen -- Gwen Donev Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu<mailto:gwendonev@gustavus.edu> Office: 507.933.6515 -- Gwen Donev Director of Advancement Services Gustavus Adolphus College 800 West College Avenue Saint Peter, Minnesota 56082 Email: gwendonev@gustavus.edu<mailto:gwendonev@gustavus.edu> Office: 507.933.6515