Stock Gift Entry

Hi Tony,

At my organization, we record the gift amount (i.e the amount that gets receipted, so in your example that would be the $9,800) and we’ve generally reduced the pledge down to match it.  We have a custom data field which will appear on the tax receipt where we simply input the number of units, the stock name, and the price.

Our processing form indicates the fees, commissions, gains/losses, and our finance department records those differences separately in their accounting software.  I track the securities donations throughout the year so that we can reconcile things properly when closing our year-end.  It’s a little task-heavy but we haven’t had an issue – it definitely a useful way of crossing T’s/dotting I’s.

In the cases where the gift comes in slightly less than the membership level it was supposed to be for, we manually adjust the membership level and recognition amount.  Sometimes our donors generously donate the difference, but for the most part it’s a manual adjustment.

I do like your suggestion of using 2 payment types, with one to indicate the stock amount difference. 

Cheers,

Christine

Christine Pellerin  Development Coordinator
Soulpepper Theatre Company

T 416.203.6264 x.145
F 416.203.1531
W soulpepper.ca

Young Centre for the Performing Arts
Distillery Historic District

50 Tank House Lane
Toronto, ON, M5A 3C4

Box Office: 416.866.8666

Donate Now to Soulpepper online at http://www.soulpepper.ca/donation.aspx

Follow Us: 

From: Tessitura Next Generation Forum [mailto:forums-nextgeneration@tessituranetwork.com] On Behalf Of Tony Exler
Sent: Monday, October 29, 2012 10:44 AM
To: christine@soulpepper.ca
Subject: Re: [Tessitura Next Generation Forum] Stock Gift Entry

While on the topic of stock gifts, I wanted to know the amount that other organizations record in Tessitura if the gift of stock or securities is paid toward a pledge.  For example, John Doe makes a $10,000 pledge and at a later date donates stock which is valued at $9,800 (Mean value of the high and low on the gift date).  The broker proceeds are $9,500 from change in price, fees and commissions.  In my experience, organizations have recorded the value of $9,800 toward the pledge, leaving a balance of $200.  Do others do that, or would you record the $9,500 broker proceeds toward the $10,000 pledge, leaving a $5,000 balance?  

I would love to hear how others do this.  If any organizations record the gift value, does that work with your customized stock gift screens?

At other organizations, I would have created 2 payments, one with a payment type of Check and the other with a payment type of Stock Difference.  The stock difference is recorded by Finance not as cash but just as a difference which tends to balance out over the year.

Thanks!

Tony

Thanks Amber! I'll review this.  My custom screen is in the contribution module, but as I mentioned, you can't enter multiple lines.  I think I'm leaning now toward the custom screen on the constituent level.

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Hi Tony,

At my organization, we record the gift amount (i.e the amount that gets receipted, so in your example that would be the $9,800) and we’ve generally reduced the pledge down to match it.  We have a custom data field which will appear on the tax receipt where we simply input the number of units, the stock name, and the price.

Our processing form indicates the fees, commissions, gains/losses, and our finance department records those differences separately in their accounting software.  I track the securities donations throughout the year so that we can reconcile things properly when closing our year-end.  It’s a little task-heavy but we haven’t had an issue – it definitely a useful way of crossing T’s/dotting I’s.

In the cases where the gift comes in slightly less than the membership level it was supposed to be for, we manually adjust the membership level and recognition amount.  Sometimes our donors generously donate the difference, but for the most part it’s a manual adjustment.

I do like your suggestion of using 2 payment types, with one to indicate the stock amount difference. 

Cheers,

Christine

Christine Pellerin  Development Coordinator
Soulpepper Theatre Company

T 416.203.6264 x.145
F 416.203.1531
W soulpepper.ca

Young Centre for the Performing Arts
Distillery Historic District

50 Tank House Lane
Toronto, ON, M5A 3C4

Box Office: 416.866.8666

Donate Now to Soulpepper online at http://www.soulpepper.ca/donation.aspx

Follow Us: 

From: Tessitura Next Generation Forum [mailto:forums-nextgeneration@tessituranetwork.com] On Behalf Of Tony Exler
Sent: Monday, October 29, 2012 10:44 AM
To: christine@soulpepper.ca
Subject: Re: [Tessitura Next Generation Forum] Stock Gift Entry

While on the topic of stock gifts, I wanted to know the amount that other organizations record in Tessitura if the gift of stock or securities is paid toward a pledge.  For example, John Doe makes a $10,000 pledge and at a later date donates stock which is valued at $9,800 (Mean value of the high and low on the gift date).  The broker proceeds are $9,500 from change in price, fees and commissions.  In my experience, organizations have recorded the value of $9,800 toward the pledge, leaving a balance of $200.  Do others do that, or would you record the $9,500 broker proceeds toward the $10,000 pledge, leaving a $5,000 balance?  

I would love to hear how others do this.  If any organizations record the gift value, does that work with your customized stock gift screens?

At other organizations, I would have created 2 payments, one with a payment type of Check and the other with a payment type of Stock Difference.  The stock difference is recorded by Finance not as cash but just as a difference which tends to balance out over the year.

Thanks!

Tony

Thanks Amber! I'll review this.  My custom screen is in the contribution module, but as I mentioned, you can't enter multiple lines.  I think I'm leaning now toward the custom screen on the constituent level.

You were sent this message automatically by www.tessituranetwork.com because you subscribed to the Tessitura Next Generation forum email notifications. You may reply to this message or visit the site to reply to the post above. If replying via email, please consider deleting the previous message text before sending to help with readability on the site. Thank you!