FundSvcs Community

Do not involve yourself in this private transaction. The faculty member should pay the student directly - assuming College policy permits that. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Jun 20, 2019, at 8:43 AM, Katlyn Porter <kporter2@zanestate.edu> wrote: > > Good morning, > > We have a faculty member who would like to provide additional funds to a student for books. This student has already received a scholarship. Considering that this is outside of our normal operations, this student wouldn’t be typically receiving these additional funds, and the faculty member chose this student specifically I believe that this gift is not tax deductible. But, it is still okay for the Foundation to accept and award this money? I am worried about a potential taxable situation for the student as well. > > Thank you for your feedback! > > Katlyn Porter > Assistant Director of Advancement Services > Zane State College Foundation > 740.588.1374 > <image003.jpg> >

Good morning, We have a faculty member who would like to provide additional funds to a student for books. This student has already received a scholarship. Considering that this is outside of our normal operations, this student wouldn't be typically receiving these additional funds, and the faculty member chose this student specifically I believe that this gift is not tax deductible. But, it is still okay for the Foundation to accept and award this money? I am worried about a potential taxable situation for the student as well. Thank you for your feedback! Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation<https://www.zanestate.edu/about/foundation/> 740.588.1374 [cid:image003.jpg@01D52744.2F9D6040]

Thank you, John! Katlyn From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Thursday, June 20, 2019 9:01 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: Additional Scholarship Donation Do not involve yourself in this private transaction. The faculty member should pay the student directly - assuming College policy permits that. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Jun 20, 2019, at 8:43 AM, Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good morning, We have a faculty member who would like to provide additional funds to a student for books. This student has already received a scholarship. Considering that this is outside of our normal operations, this student wouldn’t be typically receiving these additional funds, and the faculty member chose this student specifically I believe that this gift is not tax deductible. But, it is still okay for the Foundation to accept and award this money? I am worried about a potential taxable situation for the student as well. Thank you for your feedback! Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation<https://www.zanestate.edu/about/foundation/> 740.588.1374 <image003.jpg>

I agree with John. We have a donor who gives money to a student to cover their additional financial needs outside the scope of their awarded scholarship. This money is a private transaction and does not get recorded in any of our university systems. Jane Coughlin Gwynedd Mercy University From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Thursday, June 20, 2019 9:01 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Additional Scholarship Donation Do not involve yourself in this private transaction. The faculty member should pay the student directly - assuming College policy permits that. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Jun 20, 2019, at 8:43 AM, Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good morning, We have a faculty member who would like to provide additional funds to a student for books. This student has already received a scholarship. Considering that this is outside of our normal operations, this student wouldn’t be typically receiving these additional funds, and the faculty member chose this student specifically I believe that this gift is not tax deductible. But, it is still okay for the Foundation to accept and award this money? I am worried about a potential taxable situation for the student as well. Thank you for your feedback! Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation<https://www.zanestate.edu/about/foundation/> 740.588.1374 <image003.jpg>

Thank you, Jane. This is definitely the way I was leaning initially, now I have some back up to pass along as well! Katlyn From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Coughlin, Jane Sent: Thursday, June 20, 2019 9:25 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: Additional Scholarship Donation I agree with John. We have a donor who gives money to a student to cover their additional financial needs outside the scope of their awarded scholarship. This money is a private transaction and does not get recorded in any of our university systems. Jane Coughlin Gwynedd Mercy University From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of John Taylor Sent: Thursday, June 20, 2019 9:01 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Additional Scholarship Donation Do not involve yourself in this private transaction. The faculty member should pay the student directly - assuming College policy permits that. John John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Jun 20, 2019, at 8:43 AM, Katlyn Porter <kporter2@zanestate.edu<mailto:kporter2@zanestate.edu>> wrote: Good morning, We have a faculty member who would like to provide additional funds to a student for books. This student has already received a scholarship. Considering that this is outside of our normal operations, this student wouldn’t be typically receiving these additional funds, and the faculty member chose this student specifically I believe that this gift is not tax deductible. But, it is still okay for the Foundation to accept and award this money? I am worried about a potential taxable situation for the student as well. Thank you for your feedback! Katlyn Porter Assistant Director of Advancement Services Zane State College Foundation<https://www.zanestate.edu/about/foundation/> 740.588.1374 <image003.jpg>