Splitting stock gifts & applying to pledges

Jennifer Hughes 2

We're still relatively new to RE, and -- even with help from RE support -- have been unable to figure out how to enter stock gifts that need to be split between a minimum of two funds, especially when one or both are pledges. In some cases, we're getting shares of multiple stocks from the same donor. None of the amounts match up, not surprisingly. So for example: a donor gives us 434 shares of CVX stock at $103.36/share. He also gave us 43 shares of XOM at $87.80/share. These need to be split between a $5,000 pledge for our Annual Fund, and another pledge for a special project. How can I apply the unsold stock to the pledges when neither amount equals either pledge, and when the check amounts from our broker won't equal the values (no. of shares x mean value)? I can't apply more than we'll actually receive. How on earth do we enter the stock for these pledges/funds? And then how do we sell the stock and split the proceeds? Am I making this more difficult than it needs to be? We totally stumped the very nice woman working in RE Support - who said she can help us pull any info we want, but *entering* the information was beyond her. In fact, she eventually wondered if we didn't just want to enter these as checks ... but I'm pretty sure our auditor wouldn't approve of that... There must be a better way! Please help!

JoAnn Strommen

Jennifer Hughes:
We're still relatively new to RE, and -- even with help from RE support -- have been unable to figure out how to enter stock gifts that need to be split between a minimum of two funds, especially when one or both are pledges. In some cases, we're getting shares of multiple stocks from the same donor. None of the amounts match up, not surprisingly. So for example: a donor gives us 434 shares of CVX stock at $103.36/share. He also gave us 43 shares of XOM at $87.80/share. These need to be split between a $5,000 pledge for our Annual Fund, and another pledge for a special project. How can I apply the unsold stock to the pledges when neither amount equals either pledge, and when the check amounts from our broker won't equal the values (no. of shares x mean value)? I can't apply more than we'll actually receive. How on earth do we enter the stock for these pledges/funds? And then how do we sell the stock and split the proceeds? Am I making this more difficult than it needs to be? We totally stumped the very nice woman working in RE Support - who said she can help us pull any info we want, but *entering* the information was beyond her. In fact, she eventually wondered if we didn't just want to enter these as checks ... but I'm pretty sure our auditor wouldn't approve of that... There must be a better way! Please help!

 They should be entered as stock/property. Here's the Knowledgebase solution with steps to do that.  (I just recently had to use it as I needed a refresher - takes you through step by step).

How to add stock/property gifts and assign them a value

BB53068

In the Value field, enter the average price of the stock on the day it was transferred to your organization. For example, the average price is $10 and the donor has given 20 shares. The value will be $200.      

 ________________

As you may have to enter the two stock gifts separately - haven't ever tried to enter two types of stock in as one gift.  Due to share price/code etc. am pretty sure they'd have to enter them separately.  No, value is not the # of shares, at this point it is the value of an individual share. 

When you enter the gift, if you don't have a business rule that gives you a pop up saying this person has a pledge, go to the icon for 'apply to' - this is probably where you run into problems with RE saying #s don't match but it should work. 

So, after you enter/commit the gift you follow the steps to 'sell' the stock.  You can go to the split gift tab on the gift record and split the gift.  If you had issues trying to apply the gift to pledge before, 'apply' it after you get all this entered. 

Sorry, I can't be more specific - haven't had to split stock gift or apply to 2 pledges.  Our stock gifts are usually pretty straightforward. 

Post again if you have more questions and will try to help. [I]  

 

PS instead of the catch all where you posted, your post will go out to more users if you use sub-topics like "data entry" [;)] 

JoAnn Strommen

JoAnn Strommen:

 They should be entered as stock/property. Here's the Knowledgebase solution with steps to do that.  (I just recently had to use it as I needed a refresher - takes you through step by step).

How to add stock/property gifts and assign them a value

BB53068

In the Value field, enter the average price of the stock on the day it was transferred to your organization. For example, the average price is $10 and the donor has given 20 shares. The value will be $200.

      

 ________________

As you may have to enter the two stock gifts separately - haven't ever tried to enter two types of stock in as one gift.  Due to share price/code etc. am pretty sure they'd have to enter them separately.  No, value is not the # of shares, at this point it is the value of an individual share. 

When you enter the gift, if you don't have a business rule that gives you a pop up saying this person has a pledge, go to the icon for 'apply to' - this is probably where you run into problems with RE saying #s don't match but it should work. 

So, after you enter/commit the gift you follow the steps to 'sell' the stock.  You can go to the split gift tab on the gift record and split the gift.  If you had issues trying to apply the gift to pledge before, 'apply' it after you get all this entered. 

Sorry, I can't be more specific - haven't had to split stock gift or apply to 2 pledges.  Our stock gifts are usually pretty straightforward. 

Post again if you have more questions and will try to help. [I]  

 

PS instead of the catch all where you posted, your post will go out to more users if you use sub-topics like "data entry" [;)] 

When I went to close KB window, I saw this one that you may need also:

How to split sold stock/property gifts

The split amounts or percentages entered for the unsold stock gift are applied to the sold value of the gift. Before you enter the sale information, split the unsold stock giftBB323090