FundSvcs Community

Hi all,

Never thought I would need to think about this again, however:

We have a donor who for some years now has been giving us shares of a large public firm based in Omaha, and we have been signing medallion forms. Then, some months later, we get a check from the corporation, via a trust company for the proceeds (minus a small fee).

Is the gift occurring when we sign the medallion, when the form is given to his brokerage, when we receive the check, or something else? It seems rather unlikely that the donor is choosing to liquidate the stocks and give us cash.

Apologies if this is already discussed, the search function is new to me.

Jon

Hi all,

Never thought I would need to think about this again, however:

We have a donor who for some years now has been giving us shares of a large public firm based in Omaha, and we have been signing medallion forms. Then, some months later, we get a check from the corporation, via a trust company for the proceeds (minus a small fee).

Is the gift occurring when we sign the medallion, when the form is given to his brokerage, when we receive the check, or something else? It seems rather unlikely that the donor is choosing to liquidate the stocks and give us cash.

Apologies if this is already discussed, the search function is new to me.

Jon

Thanks for this, John. I checked and the donor is signing the page with the SIGNATURE GUARANTEED/MEDALLION GUARANTEED part. Our staff signed a second page, which has a Substitute Form W-9 and indicates they'll be creating a new account for us. That was dated 5/1/25, and I believe all of this took place via mail.

Just yesterday we got a statement confirming we own the shares.

It sounds like 5/1 is a reasonable date to choose, unless we've heard differently from the donor?

Jon

Hi all,

Never thought I would need to think about this again, however:

We have a donor who for some years now has been giving us shares of a large public firm based in Omaha, and we have been signing medallion forms. Then, some months later, we get a check from the corporation, via a trust company for the proceeds (minus a small fee).

Is the gift occurring when we sign the medallion, when the form is given to his brokerage, when we receive the check, or something else? It seems rather unlikely that the donor is choosing to liquidate the stocks and give us cash.

Apologies if this is already discussed, the search function is new to me.

Jon

Thanks for this, John. I checked and the donor is signing the page with the SIGNATURE GUARANTEED/MEDALLION GUARANTEED part. Our staff signed a second page, which has a Substitute Form W-9 and indicates they'll be creating a new account for us. That was dated 5/1/25, and I believe all of this took place via mail.

Just yesterday we got a statement confirming we own the shares.

It sounds like 5/1 is a reasonable date to choose, unless we've heard differently from the donor?

Jon

Hi all,

Never thought I would need to think about this again, however:

We have a donor who for some years now has been giving us shares of a large public firm based in Omaha, and we have been signing medallion forms. Then, some months later, we get a check from the corporation, via a trust company for the proceeds (minus a small fee).

Is the gift occurring when we sign the medallion, when the form is given to his brokerage, when we receive the check, or something else? It seems rather unlikely that the donor is choosing to liquidate the stocks and give us cash.

Apologies if this is already discussed, the search function is new to me.

Jon

Got it - we did have a gap between receiving the documents and signing them and mailing, so I'll chase down when we actually received the documents.

Jon

Thanks for this, John. I checked and the donor is signing the page with the SIGNATURE GUARANTEED/MEDALLION GUARANTEED part. Our staff signed a second page, which has a Substitute Form W-9 and indicates they'll be creating a new account for us. That was dated 5/1/25, and I believe all of this took place via mail.

Just yesterday we got a statement confirming we own the shares.

It sounds like 5/1 is a reasonable date to choose, unless we've heard differently from the donor?

Jon

Hi all,

Never thought I would need to think about this again, however:

We have a donor who for some years now has been giving us shares of a large public firm based in Omaha, and we have been signing medallion forms. Then, some months later, we get a check from the corporation, via a trust company for the proceeds (minus a small fee).

Is the gift occurring when we sign the medallion, when the form is given to his brokerage, when we receive the check, or something else? It seems rather unlikely that the donor is choosing to liquidate the stocks and give us cash.

Apologies if this is already discussed, the search function is new to me.

Jon