Gifts of Mutual Fund Shares

By Gifts in kind

Many more Americans these days own shares in mutual funds than own individual stock.  So you’d think gifts to nonprofits of mutual fund shares would be much more commonplace than gifts of stock. You’d think so, and I thought so once, but that is not the case.  The typical development shop will see stock gifts every so often (if you let your donors know you accept them, and how to convey that gift).  Gifts of mutual fund shares are somewhat rare, actually. Here’s what to do when you receive that gift of mutual fund shares. I’m sorry to say it

Read more

Gifts of Mutual Fund Shares and U.S. Savings Bonds

By Gifts in kind

The first time I received a gift of mutual fund shares I thought “Yea!” and set about liquidating the gift in the same way I would process a gift of appreciated stock. NOTE! I neglected to mention something very, very important in yesterday’s blog about stock gifts.  Each and every time you receive a gift of stock, you and your organization want to instruct your broker to sell the stock immediately and transfer the funds to your account. There are no “ifs, ands, or buts” about this.  It should be an ironclad rule at your organization and your broker should

Read more