From the other organization’s standpoint it never hurts to requests W-9’s, even if you are indirectly benefiting another entity. Many entities run the information through a compliance check just to make sure that there is not a federal reason not to do business with the other party. You will also notice the W-9 certifies a few items ad that may be of comfort to your benefactor,
Based on the situation you describe though, there is no requirement that a W-9 b obtained.
As to Johns comments on 1099’s received, there are a lot of those folders around. Sometimes you wonder if the issuers find it simpler to just send one to everyone in their payments file rather than filter appropriately.
Bob Swanson, CPA
Controller
Bowling Green State University
1851 N. Research Drive
Bowling Green, Ohio 43403
rswanso@bgsu.edu<mailto:
rswanso@bgsu.edu>
w 419.372.8597
From: Advancement Services Discussion List <
FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Heather Breerwood
Sent: Tuesday, February 19, 2019 6:51 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
Subject: [EXTERNAL] [FUNDSVCS] W9 Request from Event Sponsor
An organization has agreed to be a sponsor for a music festival at our university. This sponsor has agreed to cover the cost of a third party to do some promotions for the event. The sponsor is asking that my university complete a W9 in exchange for this sponsorship.
To me, this seems incorrect. The W9 should be filled out by the promotional company and not by my university. We could then issue the sponsoring organization a gift in kind receipt (with no value) for sponsoring the services of the promotional company. If we received a cash donation directly from the sponsor, no W9 would be required by the social media company or by my institution.
Am I on the right track?
-Heather
--
Heather Post Breerwood, MBA ‘16
Director, Advancement Information Systems
Office for Institutional Advancement
Loyola University New Orleans
7214 St. Charles Avenue
Greenville Hall, Box 909
New Orleans, LA 70118-3538
PH: 504-861-5856<callto:504-861-5856>
C: 770-262-6423<callto:770-262-6423>
FAX: 504-861-5793<callto:504-861-5793>
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