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  • 1.  Charitable Deduction for Expenses Paid at Event

    Posted 3 hours ago

    Hi All!

    I am looking for advice on how to record and receipt a possible gift and if I even CAN legally accept it as a gift.

    We have an alum who paid for all expenses the University acquired at an event we held off campus. Expenses included things like the dinner, beverages, as well as Golf Cart and Green fees.

    The alum is asking for a tax receipt for this. Would I handle this as a in-kind donation to the University and receipt it as such? Or do I handle it as a quid-pro-quo case?

    Thank you all for any advice and suggestions you have! Much appreciated!



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    Jessica Fitman
    Valparaiso University
    jessica.fitman@valpo.edu
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  • 2.  RE: Charitable Deduction for Expenses Paid at Event

    Posted 2 hours ago
    Yes, you can treat this as an in-kind donation. In the future, though, you will want a policy that discourages this sort of thing. You really want the University involved in the purchase/acquisition process to ensure your standards are followed, eligible discounts are honored, and to prove you have control over the expenditures.

    That aside, have the donor submit all receipts to you, most importantly, proof of payment. It is critical to identify the legal donor. An itemized receipt reflecting the full name of the credit card holder (or a canceled check) is required. You can issue a receipt only to this entity.

    Internally, you can record a gift using the verified values (make sure non-event items are not included on the receipt - I can tell you stories . . .). However, the receipt should include a description of what was purchased or paid for, without any dollar amounts.

    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


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