Hello,
A bequest agreement has been submitted to our office with the proposed recognition items and I could use help navigating our response on rejecting them from the agreement:
The donor also requests four (4) tickets for each performance in the theater to be held for purchase as "house seats" (Orchestra 10th row center) until 48 hours before curtain.
I am mostly certain this one would require benefit deductions on the gift per IRS 526, if they elect to still include this clause how would we calculate that, and would it be reduced on the bequest when it is realized and/or when the expectancy is booked?
The donor will donate art to be displayed in the xxxx Lobby subject to approval by the School of xxxx. Priority will be given to the donor's personal donations (not to be unreasonably withheld). Artwork to be installed in as safe and secure of a manner as is reasonably possible.
This feels quid pro quo, what resources can we provide our team to back up rejecting this? I have advised this is handled separately as a gift in kind. Does including this language negate the full valuation of the bequest as a gift?
At each and any event funded by the endowment, recognition (verbally and in print) will be given at each event.
Is verbal donor recognition at events acceptable as a non-tangible acknowledgment?
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Jayme Fancher
San Diego State University
jfancher@sdsu.edu------------------------------