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.