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  • 1.  Gift In Kind or not?

    Posted 02-01-2024 09:43 AM

    Hi all,

    I received a request to mark a gift as in kind, but I am hesitant to do so.

    Students needed to stay somewhere, and hotel rooms were going to be needed, which cost around $6,347.34.  However, the students were able to stay at a community college, which cost the institution $1,349, a much better price.  The Advancement team would like to give an in-kind credit to the community college of $4,998.34, since they saved us that amount that we would have needed to spend if the community college didn't allow the students to stay.

    However, I am questioning if this is a gift-in-kind?  To me it feels more like shopping for a better rate, but not a gift in-kind credit?

    Would love to hear your thoughts as well.

    Thanks,

    Anna



  • 2.  RE: Gift In Kind or not?

    Posted 02-01-2024 10:05 AM
    It is not a qualifying donation because it is a partial-interest gift, a gift "for use of" rooms, per IRS Pub 526. The difference between what  you paid and what accommodations would have cost elsewhere is not relevant either.

    You can certainly send a nice thank you note, but there is no tax-deductible gift here. 


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

    Schedule a 30-minute consultation now:




    Original Message


  • 3.  RE: Gift In Kind or not?

    Posted 02-01-2024 10:13 AM
    I am in 100% agreement this is not a gift. But it's not even "partial interest" nor worthy of soft-credit (in my opinion). The community college didn't give you anything! They charged you their normal fee - it was your stroke of genius going to the CC that saved you money - the CC had nothing to do with that.

    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


  • 4.  RE: Gift In Kind or not?

    Posted 02-01-2024 10:17 AM
    On reflection, John is right - if they had given you the rooms for free it would be partial interest. As it was, they just charged you what they charge. No gift, just good bargain-hunting on your part. Maybe YOU should get the thank you letter?


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

    Schedule a 30-minute consultation now:





    Original Message


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