Subject: BENEFACTOR ENTRIES
A. Gifts of Stock Sold by the Office of Finance and Treasurer
For Gifts of Stock Sold by the Office of Finance and Treasurer, the appropriate university Development Office shall post the gift on Benefactor using:
- a Gift Type of Outright, Memorial, Honorarium, In-Name-Of, Planned Gift, Trust or Bequest.
- hard credit for the net amount received from the sale.
- soft credit for the difference between the net amount received from the sale and the value of the stock on the date of transfer (use soft credit only if the net amount received is less than the value on the date of transfer).
- a Pay Method of ST (stock). This is necessary so that an automatic feed to PeopleSoft will not occur when the gift is posted. The Office of Finance and Treasurer will deposit the gift directly into the correct program.
- field two of the Gift Description screen (GDES) and one field for each donated security on the Noncash Asset Composition screen (NCAC) to record stock gift data (detail to these screens from Pay Method).
- a credit date of the date of transfer.
B. Cash Gifts Resulting From Donors Having Their Brokers Sell Stock
For Cash Gifts Resulting From Donors Having Their Brokers Sell Stock (this is considered the same as a cash gift) the appropriate university Development Office shall post the gift on Benefactor using:
- a Gift Type of Outright, Memorial, Honorarium, In-Name-Of, Planned Gift, or Trust.
- a Pay Method of CK (check).
- a credit date of the date the check was received.
- hard credit for the amount of the check.