FundSvcs Community

 View Only
Expand all | Collapse all

Stock donation gift

  • 1.  Stock donation gift

    Posted 01-05-2022 05:57 PM
    Hi,

    A donor gave a paper stock certificate to us on 12/31/21 and the broker wasn't able to sell it until after 1/1/2022. Is this a 2021 or 2022 gift. I'm thinking 2021, but I'm second guessing myself.

    Thank you!

    Shani

    Shani Grafman | Director of Development

    BOY SCOUTS OF AMERICA

    Western Los Angeles County Council

    16525 Sherman Way, C-8

    Van Nuys, CA  91406

    Direct: (818) 933-0108

    Cell: (818) 324-4337

    Tax ID: 95-2788856

    www.bsa-la.org



    ------------------------------
    Shani Grafman
    BOY SCOUTS OF AMERICA
    Shani.Grafman@scouting.org
    ------------------------------


  • 2.  RE: Stock donation gift

    Posted 01-05-2022 06:34 PM
    It does not matter when the stock was sold.  The date of the gift is the date the donor delivered the certificate.

    The issue with paper certificates is determining when the stock was "in your name."  The certificate must be "endorsed" over to you (there are blanks on the back of the certificate.

    If the donor signed the certificate and had it properly witnessed, the date of that signature is the legal date of the gift.

    If they executed a "Signature Guarantee" and mailed that to you, the date of mailing is the date of the gift.

    If, however, the stock was already registered in your name (printed on the front), the date of registration is the date of the gift (even if that was months ago).

    The value of the gift for your internal purposes is the average between the high and the low for that stock on the legal date of the gift.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Stock donation gift

    Posted 01-05-2022 07:15 PM
    Thank you for your detailed response! Answers every question I had.

    ------------------------------
    Shani Grafman
    BOY SCOUTS OF AMERICA
    Shani.Grafman@scouting.org
    ------------------------------