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  • 1.  Faculty Member donation of recognition gift

    Posted 05-23-2022 02:47 PM
    Our Head of School's office wanted to purchase a gift for a faculty member that stepped up to cover an interim position. They didn't actually purchase any item because the faculty member got wind and requested that the cost of the gift be donated to financial aid instead. How would we go about processing this gift and enter into the database? 
    I could find out what amount they were going to spend on the item, have finance transfer that amount from HOS budget to Financial Aid but what would the faculty member need to do in order for us to give him credit for the gift in RE?  Thanks for your help! 

    Kate

    ------------------------------
    Kate Lynch
    Director of Advancement Services
    Concord Academy
    kate_lynch@concordacademy.org
    978-402-2450
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  • 2.  RE: Faculty Member donation of recognition gift

    Posted 05-23-2022 02:55 PM
    You cannot make a gift to yourself.  This is simply an internal transfer of funds.  But, for a true gift to be recognized, the individual would have to receive the income (and have that included in their W-2), and then donate the funds back.

    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


  • 3.  RE: Faculty Member donation of recognition gift

    Posted 05-24-2022 07:43 AM
    Do you have an independent foundation? If so, in similar situations at my institution, the school has sent the contribution to the foundation and we've soft credited the faculty member.



    Original Message


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