Mellon Adds Securities Gifts Processing to Capabilities

May 30, 2007 ( - 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.

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