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Gift of Stocks -- Use MobileCause forms?

  • 1.  Gift of Stocks -- Use MobileCause forms?

    Posted 5 days ago
    Hello!

    We are working toward cultivating donors in our network toward giving gifts of stocks, but we have not done this before at our institution. I haven't begun to do my CASE research and I assume there's a lot of good info there on the best practice of recording stock gifts-- but more specifically, my boss was wondering if we can add this as a type of donate form? Currently we are using MobileCause. Without having processed a stock gift myself, my assumption is any kind of digital form filled out would constitute more of an interest inquiry than an actual gift --considering the kind of documentation we would need to maintain regarding the stock(s) donated. Can anyone chime in and offer some thoughts (or context at your institution) for how we could go about having people "donate stocks online"?

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    Melissa Rufener
    Coordinator of Advancement Services
    Life Pacific University
    mrufener@lifepacific.edu
    http://www.lifepacific.edu
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  • 2.  RE: Gift of Stocks -- Use MobileCause forms?

    Posted 5 days ago
    You really cannot effectively donate stock online.  You are correct that this is really more of a notification mechanism.

    The donor is still going to have to initiate the transfer with their broker or via their electronic brokerage system.  However, you want to capture as much information as you can about the incoming transfer to avoid a rash of "unknown" gifts.

    Personally, I do not publish DTC information online for the same reason (unknowns).  While the notification of interest is useful, when it comes to security transfers nothing beats direct communication.

    But, on a related note, you might want to look into facilitating gifts of cryptocurrency online.  Although, I do not know if MobilCause handles those.

    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