A community foundation has already given a tax receipt to a donor, and no you cannot give anything of value to their donor. Having said that, do the socks have your logo on them and if so, is it an inconsequential value ??
Sent from my iPhone
Please excuse brevity and misspelling.
Donna Rex
donnafund@gmail.com
> On Mar 26, 2019, at 2:17 PM, Greenbaum, Josh S <
JGREE2@emory.edu> wrote:
>
> I think she meant “sock credit”.
>
> -jsg
>
> From: Advancement Services Discussion List <
FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Marianne Pelletier
> Sent: Tuesday, March 26, 2019 2:13 PM
> To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
> Subject: Re: [FUNDSVCS] Socks!
>
> I’m still stuck on the notion that the people who get the soft socks also get soft credit.
>
> Marianne
>
> Sent from my iPhone
>
> On Mar 26, 2019, at 2:06 PM, John Taylor <
johntaylorconsulting@gmail.com> wrote:
>
> Well, I did not specifically say "community foundation." I said "private foundation" which is akin to a "family foundation."
>
> What I am unclear on is why are you having donors give "via" a community foundation and not directly to you?
>
> What I do not know are laws regarding community foundations and if they are different from private foundations. What I do know is if the money is being given to the foundation and then the foundation is voluntarily making a gift to you, you better ask the CFO/Counsel of the community foundation whether their gifts can result in benefits being given to private individuals. If they agree that it is okay, then their contribution to you must be reduced by the FMV of the retail value of all socks you provide as a result.
>
> John
>
> John H. Taylor
> Principal, John H. Taylor Consulting
> 2604 Sevier St.
> Durham, NC 27705
>
johntaylorconsulting@gmail.com
> 919.816.5903 (cell/text)
>
> Serving the Advancement Community Since 1987
>
>
> On Tue, Mar 26, 2019 at 1:36 PM Lidington, Siobhan <
sllidington@albertus.edu> wrote:
> Got it. So by giving to the community foundation, they are disqualified from receiving a benefit. Thank you.
>
>
> Siobhan Lidington
> Director of Annual and Individual Giving
> Albertus Magnus College
> 700 Prospect St
> New Haven, CT 06511
>
sllidington@albertus.edu
> w. (203)773-8519
>
>
> On Tue, Mar 26, 2019 at 1:13 PM John Taylor <
johntaylorconsulting@gmail.com> wrote:
> Benefits cannot be given to anyone period if they give through a DAF (impermissible benefit) or a private foundation (self-dealing).
>
> John
>
> John H. Taylor
> Principal, John H. Taylor Consulting
> 2604 Sevier St.
> Durham, NC 27705
>
johntaylorconsulting@gmail.com
> 919.816.5903 (cell/text)
>
> Serving the Advancement Community Since 1987
>
>
> On Tue, Mar 26, 2019 at 1:07 PM Lidington, Siobhan <
sllidington@albertus.edu> wrote:
> Yes, socks. If we do a give away of socks for those that give to us via a community foundation giving day (so the sock wearer would be soft credit)... is the sock still a benefit received?
>
>
> Siobhan Lidington
> Director of Annual and Individual Giving
> Albertus Magnus College
> 700 Prospect St
> New Haven, CT 06511
>
sllidington@albertus.edu
> w. (203)773-8519
>
>
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