Mutual Funds

Melissa Hoster
Melissa Hoster
Seventh Anniversary Facilitator 1
in Blackbaud Raiser's Edge NXT®: General Discussions

Mutual Funds - does your organization treat them the same as Stock? or are there any variances in recording? I'm thinking;
Use the gift type of stock/property
Record the value of the Mutual Funds on day of transfer in RE
Receipt: provide the date of transfer, description of Mutual Fund, number of funds transferred, Value of 1 Mutual Fund on date of transfer - instead of typical High and Low value of stock

Any red flags with this planned process?

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Comments

  • Dan Snyder
    Dan Snyder Community All-Star
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    @Melissa Hoster We record mutual fund gifts just like stock sharing the number of shares and the date it was received. We also give a gift recognition amount and clearly state that you should speak with your tax advisor regarding what the actual deductible amount is. While I know we do not need to/should not list the amount, many of our donors want to give a certain amount so they want to know what they are being credited with so we include it.

  • Melissa Hoster
    Melissa Hoster
    Seventh Anniversary Facilitator 1

    Helpful to know the feedback from your donors and your process - thanks Dan!

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