Greendale School District Gets OK to Accept Stock Donations

The plans to open a depository account for the purpose of receiving donations of stock, transacting sales and accepting the resulting funds for the purpose of benefitting the schools.

The school administration recommended during the January 9 school board meeting that the board approve opening a Schwab One Account with Charles Schwab Institutional. The school board unanimously voted to approve the measure, with the exception of board member Jim Schutte who was absent from the meeting.

School Superintendent Bill Hughes told the board the account would be a vehicle to allow stocks to be gifted to the district for tax purposes from individuals. He indicated this would in no way involve buying and selling stocks with Greendale funds.

Erin Green, Director of Business Services for the school district, said there is no cost to the district associated with this type of account.

School board president Tom Slota asked administrators if there is any risk involved, to which Green indicated while there is always a chance something can go wrong with anything, there is nothing she can think of at this time to be concerned about with this venture.