FundSvcs Community

 View Only

  • 1.  Stock Gift Date

    Posted 05-30-2024 08:46 AM
    We usually receive stock the in our account the same day the stock is executed. However due to the recent Holiday, we have a stock that was executed on 5/24 but was not transferred until 5/28 to our account. Everything I see states that the gift date, and when we look for the median stock value should be the date that the stock is transferred to our account. Could someone confirm that the correct date to use to process this stock is 5/28?

    Thanks,
    Danielle

    --



  • 2.  RE: Stock Gift Date

    Posted 05-30-2024 09:34 AM

    We count it as the day it was received.

     

    Karry Morton | Director, Gift Services
    Children's Hospital Colorado Foundation
    13123 East 16th Avenue, Box 045 | Aurora, CO 80045
    Phone: 720-777-1742 | Cell: 720-323-3305


    SupportChildrensColorado.org | Facebook | Instagram | LinkedIn

     

     

    For every child who needs us. From fixing broken bones to treating pediatric cancer, your generosity helps us serve Children's Hospital Colorado patients and families who depend on us every day. Donate today.

     

    If you would like to opt-out of communications from Children's Colorado Foundation, please email info@childrenscoloradofoundation.org or call 720-777-1700.

     

    CONFIDENTIALITY NOTICE: The information contained in this message is legally privileged and confidential information intended only for the use of the individual or entity named above. Any release, dissemination, distribution, or copying of this communication is strictly prohibited. If you have received this message in error, please notify the author immediately by replying to this message and delete the original message. Thank you.

     




    Original Message


  • 3.  RE: Stock Gift Date

    Posted 05-30-2024 10:52 AM

    Same here...it's based on when it actually arrives in our account. 

     

    Michael Halverson

    Cell: 320-363-4987

    Office: 305-284-1608

     




    Original Message


  • 4.  RE: Stock Gift Date

    Posted 05-31-2024 07:50 AM

    I agree with Kerry. It is the day that it is received in your account, not the day that it is executed.



    ------------------------------
    Michelle Lancto
    Elms College
    lanctom@elms.edu
    ------------------------------

    Original Message


  • 5.  RE: Stock Gift Date

    Posted 06-03-2024 04:32 PM
    Edited by Robert Crenshaw 06-03-2024 04:33 PM

    As others have said, we also use the date it was transferred to our brokerage account, as that's when the actual ownership of those assets was legally surrendered to us. That can cause some consternation for some donors who see a change in the value due to market fluctuations, so we try to be really clear about that when working with donors around stock gift transfers. 



    ------------------------------
    Robert Crenshaw
    Oklahoma State University Foundation
    rcrenshaw@osugiving.com
    ------------------------------

    Original Message


  • 6.  RE: Stock Gift Date

    Posted 06-04-2024 08:50 AM

    As others have stated, the gift date would be 5/28. We have a footnote on the acknowledgement we send to our donors:

     

     

    * In accordance with IRS regulations, donor credit is calculated as the mean of the high and low selling prices on the date the securities were received by the UNH Foundation.  For internal and recognition purposes only, we have credited a total of $XXX. It is recommended that you consult with your own tax advisor for the exact amount for tax deductible purposes.

     

     

    Amanda             

     

     

    Amanda L. Haney

    Director of Gift & Data Management

    Gift & Data Management

     

     

    University Advancement I Elliott Alumni Center I 9 Edgewood Rd I Durham, NH 03824

    Office: 603-862-2041 I amanda.haney@unh.edu

     

    CONFIDENTIALITY NOTICE:  If you have received this email in error, please immediately notify the sender by e-mail at the address shown.  This e-mail transmission may contain confidential information.  This information is intended only for the use of the individual(s) or entity to whom it is intended even if addressed incorrectly.  Please delete it from your files if you are not the intended recipient.  Thank you for your compliance.

     

     




    Original Message


  • 7.  RE: Stock Gift Date

    Posted 07-22-2024 01:15 PM
    The actual date depends on the delivery mechanism. If this occurred electronically, it is the date the transaction hit your account. There generally are no delays in between leaving the donor's account and arriving in yours. While the donor may have issued instructions on the 24th, it appears those instructions were not acted upon until the 28th.

    Of course, this date and valuation is only for you. You should not provide that information to the donor per IRS instructions. It is up to the donor to make those determinations. Our job is to confirm what was received - not when or at what value.

    John


    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


Related Content