Receiving a Mutual Fund Gift

It has been 12 years since I’ve invested in a single stock. The Great Recession of 2008-09 cured me of this. Ever since, my investments have been in mutual funds which greatly reduces risk. I’ve donated stock before (2009 in fact), but I never thought about if you could donate shares of a mutual fund. How would that work?

After visiting with Diane Weller of the Dakotas-Minnesota Methodist Foundation, I found out that it’s about the same as donating stock. There is one important difference which relates to what is called the BIN number. Not sure what a BIN number is, but it’s important in completing the donation. In the video, I share the details…including how to account for the gift.


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