I agree with Aaron as well.
Michael Halverson, Ed.D.
Senior Director of Advancement Services
Loyola University Chicago
T. 312-915-7283 | C. 320-363-4987<tel:320-363-4987>
mhalverson@luc.edu<mailto:
mhalverson@luc.edu> |
www.luc.edu/advancement<http://www.luc.edu/advancement>
From: Advancement Services Discussion List [mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of Rush, Tracy
Sent: Tuesday, June 18, 2019 10:25 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
Subject: Re: [FUNDSVCS] [External Email] Re: [FUNDSVCS] How to value stock
Ditto what Aaron said…as it relates to publicly traded stock…
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FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Forrest, Aaron
Sent: Tuesday, June 18, 2019 11:23 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG>
Subject: [External Email] Re: [FUNDSVCS] How to value stock
Can you share the way you’ve worded it? Stock is a property gift and donor must substantiate deduction, not you. Property receipts should only reference the property donated. However, we have a sentence on stock receipts along the lines of “for internal purposes we have valued your stock donation at $X” which is fairly standard. This is needed because often stock is used to pay pledge payments, and we need to keep track of outstanding pledge balances for the donor.
Aaron
Aaron Forrest CPA
Senior Director Gift and Donor Services
University of Rochester Office of Advancement
Larry and Cindy Bloch Alumni and Advancement Center
300 East River Road
Rochester NY 14627
Office 585.275.2799 / Fax 585-273-4558
Email
aaron.forrest@rochester.edu<mailto:
aaron.forrest@rochester.edu>
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FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Diane Duquette
Sent: Tuesday, June 18, 2019 11:15 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG>
Subject: [FUNDSVCS] How to value stock
I have always given the donor the mean value, the difference in high and low, as to their deduction. My boss says her non-profit accountant says I can't say that to them. He says in the receipt letter I can only say thank you for the number of shares and say what the high and low is but not say mean value and not say what is deductible.
I have been doing this for 20 years and am very frustrated. Will someone tell me the correct way to say to donor what he has given and deductible amount.
My boss wants proof if I am right so she can show the accountant.
Diane Duquette
Development Consultant
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[Diane Duquette Executive Consultant 678-371-1703]
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