Products May 30, 2007

Mellon Adds Securities Gifts Processing to Capabilities

May 30, 2007 (PLANSPONSOR.com) - Mellon Financial Corporation's asset servicing group and its full service broker/dealer are collaborating to provide a gift processing service for its not-for-profit trust and custody clients that now handles all gift transaction types, such as charitable gifts of stocks, bonds or other securities.
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Mellon has already offered gift processing service to foundations, endowments and other not-for-profit institutions. However, this version is coordinated with Mellon’s custody, cash management and securities services businesses.

According to a news release, the program:

  • enables gifts to be received without prior notification from either the organization’s development office or its donors;
  • creates brokerage accounts for clients that want to accept gifts of securities, monitors the accounts and researches receipts, and provides daily donation reports.
  • assists clients and donors with more complicated gifts, including restricted stock, mutual funds, international securities, and other unique assets.

More information is at  http://www.mellon.com.

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