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  • 1.  Donor requesting refund in order to change donation vehicle

    Posted 12-10-2024 11:27 AM

    Good afternoon!

    Had a donor make a credit card gift in October.  The donor has recently consulted with her Financial Advisor who suggested that she make this gift with appreciated stock rather than cash.  The donor is now asking if we can refund her credit card and she will transfer securities.

    Is there an issue with this, IRS or otherwise if we were to send a "voided" tax receipt for the credit card gift and then issue a new one when we receive the stock?

    Thank you in advance!



    ------------------------------
    Patty Herrity
    Sr. Director - Gift & Data Managment
    University of Notre Dame
    pherrit1@nd.edu
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  • 2.  RE: Donor requesting refund in order to change donation vehicle

    Posted 12-10-2024 11:33 AM
    It would be best if you asked for the original receipt or sent a letter voiding it. Otherwise, you are probably okay.

    There is an aasp Best Practice that goes into lots of details on refunding gifts.

    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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