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  • Writer's pictureKevin Leahy

Givzey Guidance: What Gift Date Do I Assign to a Stock Gift?


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Givzey Guidance: What Gift Date Do I Assign to a Stock Gift?

Question: What Gift Date Do I Assign to a Stock Gift?

Question: Due to a holiday weekend, we had a stock transfer that was executed electronically on a Friday, but it wasn't received in our account until the following Tuesday. I think we should use Tuesday as the gift date when we look at the median stock value as it's the date it transferred to our account. Am I correct?

Answer:

It comes down to when a donor relinquishes control, which varies depending on the method of delivery.


In your case, the shares transferred electronically and are considered legal gifts the date the stock was credited to your organization's account. CASE Global Reporting Standards, 1st Edition has an excellent explanation of how to determine the legal date of stock gifts based on the delivery method. 


Also your gift receipt should thank the donor for the specific number of shares received of XYZ Company, but not state a value for the stock gift per IRS publication 1771.


Gift Documentation Resources:


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