Hello, all –
We've received a gift of a brokerage account, which is constituted of cash and "cash alternatives." The logistics of this seem very similar to when we receive gifts of stock – the assets were irrevocably transferred to us on a particular date, but won't be liquidated immediately.
Would it be correct to assume that we should 1) internally value this gift on the total balance of the account on the day it was transferred to us, and 2) receipt it like a gift of stock – describing the nature of the gift, but not formally assigning a value to it?
Many thanks for your input,
Michael Halverson, Ed.D. Senior Director of Advancement Services Loyola University Chicago T. 312-915-7283 | C. 320-363-4987 email@example.com | www.luc.edu/advancement