I forgot to bring this up at the conference! I created a custom contribution screen for stock gifts, but this process is limited in that it doesn't allow me to enter multiple stocks in one gift or pledge. It seems as though v11 should be able to accommodate stock gift entry in the payments window. For payment type "Securities" add the following fields:
1. Symbol
2. No. Shares
3. High
4. Low
5. Value
Would this be helpful for others?
So this is on the Custom Tab? We've currently been discussing how to handle this ourselves--currently, we just give our donors the donor credit amount (mean value of the stock on the day donated to us) on the payment screen, and then we enter this information into the notes field.
The place where it is complicated is where we submit it to our accounting department. Do you have reports that pull from this Custom Screen to account for that?
I've always hated giving our Accounting department a posting report that has a number in the "Stock Check" field that is different than the amount of the actual check--how do you deal with that?
Chris
Hey Chris,
In terms of the differing gift/check numbers, we enter the amount of the check using the payment method Stock Check and then we enter a second portion of the payment with the payment method as Stock Gain/Loss. That way the constituents contribution amount matches the value of the actual stock donation, the Stock Check amount matches the actual check, and the gain/loss goes into the G/L Finance has given us so they can account for any resulting income or expenses.
Rey
--
A. Rey Pamatmat
Tessitura Manager
The Public Theater
425 Lafayette Street
New York, NY 10003
(212) 539-8739
rpamatmat@publictheater.org
From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Chris Stuart Sent: Thursday, August 04, 2011 5:07 PM To: Rey Pamatmat Subject: Re: [Tessitura Development Forum] Stock Gift Entry-repost
From: Chandra Asken <bounce-chandraasken4838@tessituranetwork.com> Sent: 7/26/2011 5:06:21 PM
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So I realized that stock gift entry won't really work, as often one stock gift is for more than one gift or pledge payment. It's impossible to really break out a stock gift or gifts for multiple contributions. Any thoughts?
Hi Chandra,
We also have 2 payment methods, stock (trade account) & stock gain/loss (maps to a fee GL outside of Tess.) We enter the details on a custom tab in the contributions module (free text- Number of shares, High, Median, Low.) One paymet can be applied accross multiple pledges gifts, either in the same batch or by placing funds On Account.)
The accounting peice works in one of two ways:
If the stock is sold & we receive a check, the payment is split as check and stock gain/loss.
If the we accept the actual stock & trade it ourselves, the payment is booked as stock and stock gain/loss.