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  • 1.  Determination for using Deed of Gift

    Posted 04-06-2023 11:54 AM
    What criteria do you use to determine when a Deed of Gift (or a Declaration of Gift) form should be used with a donor for gifts in kind of personal property, other than for gifts of real estate?  Is there a dollar threshold that you use?  Or a list of certain types of personal property?  

    We have used this form in the past for gifts of artwork and musical instruments, and refer to jewelry, antiques or other collectible items in this same category; however we are wondering if there are clear guidelines that we should be using to determine when the form is either necessary and/or helpful.

    Thank you!

    --
     Gwen Donev

    Director of Advancement Services

    Gustavus Adolphus College

    800 West College Avenue

    Saint Peter, Minnesota 56082

     

    Email:  gwendonev@gustavus.edu

    Office:  507.933.6515



  • 2.  RE: Determination for using Deed of Gift

    Posted 04-06-2023 12:05 PM
    I would ask your CFO as they will need to describe what is needed for booking the asset on the GL.

    The most common dollar threshold I've seen is $5,000. That's the level at which an 8283 must be executed by you.

    On the other hand, donors must file an 8283 for gifts of $500+. So some organizations require a deed of gift at that level.

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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