To set forth the University’s policy regarding the sale of gifted securities.
May, 2023Responsible Office
The University of Pennsylvania accepts gifts of marketable securities (stocks, bonds, limited partnership interests, and mutual funds) for immediate sale only, and does not retain securities for further appreciation.
The University will value all securities on the date accepted in accordance with Policy 2201, Gift Date Policy.
Publicly traded securities will be valued in accordance with Policy 2203, Gift Valuation for Publicly Traded Securities.
Upon the sale of a security, net proceeds will be journaled to an appropriate gift account in accordance with donor designation.
The Office of the Treasurer is the only authorized agent to accept, value and sell gifts of securities for the benefit of the University.