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  • 1.  Engineering project done by students - now receiving 'gift' from HOA

    Posted 26 days ago

    We received a check from a local condominium HOA as a thank you for a study done by a group of 4 civil engineering students who did some type of assessment on their drainage issues. "The studies have added a great deal of data to address solving this long-term difficulty for our membership." 

    I have not contacted the department yet for more info but will. I'm not aware of any contract or how they came to have the students do the assessment. 

    The 'thank you gift' is $500. If there was no contract, done as a volunteer project by the students for experience, can this be considered a charitable contribution?  As an HOA, can they even gift 'charitable gifts.'  How do we enter this into our records?



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    JoAnn Strommen
    Database Administrator
    South Dakota Mines Center for Alumni Relations & Advancement
    joann.strommen@sdsmt.edu
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  • 2.  RE: Engineering project done by students - now receiving 'gift' from HOA

    Posted 26 days ago
    It can be a gift as long as it goes to something like the annual fund - and not to the students. Of course it cannot be regarded as a payment for services rendered. Only a voluntary gift.

    And if the HOA wants to make a gift that is up to their board! You will need to create a record for that organization.

    John


    John Taylor Principal, John H. Taylor Consulting, LLC 919.816.5903 Big ideas; small keyboard





  • 3.  RE: Engineering project done by students - now receiving 'gift' from HOA

    Posted 26 days ago
    It is a gift, in that it was totally voluntary - even though they're expressing appreciation for the student work. Depending on the HOA's incorporation, it may have some tax implications for them, and you can acknowledge the gift as normal. This is a charitable gift from an organization.


    Thank you,
    Isaac Shalev
    President
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






  • 4.  RE: Engineering project done by students - now receiving 'gift' from HOA

    Posted 26 days ago

    Thank you John & Isaac. Appreciate the confirmation.



    ------------------------------
    JoAnn Strommen
    Database Administrator
    South Dakota Mines Center for Alumni Relations & Advancement
    joann.strommen@sdsmt.edu
    ------------------------------



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