Policy 1012: Accounting for Gifts of Securities

Subject Area: Accounting
Responsible Office: Financial Services
Sponsor: Associate Vice President for Finance
Originally Issued: October 1992
Revised: March 2010
Refer Questions To: James Ribikawskis, 773-702-3690

Purpose: To provide a policy for the accounting for gifts of securities.


  1. Gifts of securities will be recorded in the Financial Accounting System at the fair market value at the date of the gift to the University.
  2. Securities received by gift shall normally be sold by the Investment Office at the earliest convenient date if deemed appropriate for sale.
  3. Valuations assigned to gifts of securities must be in accordance with Internal Revenue Service regulations.