Determining the gift date and value 
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Determining the gift date and value
For tax purposes, the date of the gift is the date on which the Foundation assumes complete control of the securities. The date which the Foundation is said to assume control is dependent on how the stock is delivered.
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For securities sent through the mail, the gift date is the postmark date on the mailing envelope, provided the security is properly endorsed. |
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For hand-delivered securities, the gift date is the date the security is received by the Foundation or Foundation's agent. |
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For securities held in account, the gift date is the date the securities are transferred into the NEIU Foundation account on the issuing corporation's books. However, if the Foundation appoints the broker/ financial institution that holds the securities as its agent for transfer, then the date of the gift is the date of delivery to the Foundation's broker/agent regardless of the timing of transfer onto the corporation's books. |
The fair market value of the security is equal to its mean value on the date of the gift.
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