Policy 2 Gift Acceptance
Section 2.5 Gifts of Cash and Negotiable Securities
Gifts of cash and negotiable securities may be accepted by UNGF. Checks must be payable to UNGF, not the University. Gifts of cash are considered to be made on the date postmarked, accepted by a UNGF staff member, or delivered to the Foundation office. Credit card gifts are considered to be made on the date they are processed, regardless of postmark dates.
Securities that are traded on the New York and American Stock Exchanges, as well as other major U.S. and foreign exchanges and the NASDAQ, corporate bonds, government issues and agency securities may be accepted as gifts. In general, such securities shall be sold as soon as possible after their receipt.
The value of a gift of securities is determined by averaging the highest and lowest selling prices quoted for the security on the day the transfer is completed by the donor to the Foundation, in compliance with IRS regulations.
Donors should notify the Foundation of the securities being gifted, the number of shares, the intended gift date, and the intended use of the gift. Securities may be wired to a designated Foundation brokerage account, see Appendix for Stock Transfer Authorization Form.