The Foundation typically tries to sell gifts of stock and securities as soon as it receives them, earning at or above market value.
How does the Foundation decide when a gift of securities, such as stock, is received?
Gifts of securities are dated in different ways:
- An electronically held share is dated when it is received in a Foundation account.
- Stock certificates delivered to the Foundation in the donor’s name are dated with the mailing date if they come through the U.S. Postal Service or on the date received if delivered in person or through other carriers, such as FedEx.
- Stock certificates reissued in the Foundation’s name follow the date on the certificate.
Making a year-end deadline for stock gifts:
- If a donor plans to make a year-end securities gift, encourage an early start. Brokerage firms, trust offices and banks usually are down staff at the end of the year and need ample time to execute a transfer before December 31.
- Year-end gifts of mutual funds can take 4-6 weeks to process. The Foundation will do everything possible to complete the year-end transaction but is often at the mercy of the mutual fund company.
