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  • 1.  Auctions

    Posted 10-22-2025 09:53 AM

    Hi there!

     

    I'm getting a couple questions regarding auctions that I could use some help answering. Any help would be appreciated.

     

    The auction host wants to know:

     

    I am requesting a "receipt" that I give to the auction buyer that shows they purchased the item at our fundraiser/charitable event. Providing a receipt is standard at these types of events.  Can Gift Operations or someone provide me this general blank receipt that we can provide buyers at our auction event?  Then I can complete the blank info on the receipt before providing to the Buyer.

     

    My follow-up question would be providing a receipt to those that donate items to the auction to use for fundraising at the event.  Would this be the same receipt as a buyer would receive or does the Donator receive a different receipt for their donation?

     

     

    Tammy M. Cline

    Assistant Director, Gift Policy, Processing & Reporting

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996

    Phone: 845.446.1540

    Fax: 845.377.3039

    WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender’s written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     



  • 2.  RE: Auctions

    Posted 10-22-2025 10:09 AM
    Issue basically standard receipts.
    • For winning bidders who paid in excess of the published FMV, issue a quid pro quo receipt: Total amount paid; value and description of what they obtained; net deductible amount.
    • For winning bidders who paid equal to, or less than, the published FMV, they receive NO receipt.
    • For donors of items being auctioned - assuming they qualify as being deductible (not a service or partial interest), issue a standard GIK receipt that only describes but does not value the donated item.
      • I generally do not issue receipts for these until after the auction and only if the item has sold. Unsold items are often returned to the donor, so I don't want to have to request a return of that receipt.
    IRS Publication 1771 offers examples of QPQ and GIK receipts.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


  • 3.  RE: Auctions

    Posted 10-22-2025 10:16 AM

    Great, thank you. I agree with the receipting after the fact.

     

    Tammy M. Cline

    Assistant Director, Gift Policy, Processing & Reporting

    West Point Association of Graduates

    698 Mills Road West Point, NY 10996

    Phone: 845.446.1540

    Fax: 845.377.3039

    WestPointAOG.org

     

    Serving West Point and the Long Gray Line

     

    CONFIDENTIALITY NOTICE: The information contained in this email message and any attachments is confidential and the property of West Point Association of Graduates (WPAOG). This message is intended for viewing and use by the original recipients only. Any dissemination, distribution, or copying of this communication and/or its attachments is prohibited without the sender’s written permission. WPAOG does not accept liability for changes to this message after it was sent or privacy violations caused by forwarding to additional parties. If you have received this communication in error, please notify the sender and delete this email from your computer. For additional information please refer to the privacy statement available at WestPointAOG.org.

     




    Original Message


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