[cbcjones]

One of our donors wants to give us shares of a mutual fund. When I was first contacted about the gift, I was told it was a stock gift. He requested our broker's information, our DTC number, and our account number. When he tried to make the transfer, however, it kept being rejected. I was then told his gift is shares of a mutual fund.

I'm currently waiting for our broker to return my call to find out if they can handle this transfer.

Do any of you have experience or knowledge regarding transferring mutual funds as gifts? What is the process? Can it be done electronically?

Thanks for your help!
Carol Jones
Database Manager
Hawken School
Gates Mills, OH

[cbcjones]

As a follow-up to my question, I wanted to let you know that the electronic transfer of the mutual fund did go through. Apparently, there was a glitch on the donor's side of the transfer -- but after their broker spoke with ours, it did go through and was sold. Yea!

Carol