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  • 1.  Gifts in Kind?

    Posted 10-11-2024 11:20 AM

    Hello Friends,

    I have two scenarios here:

    1. A board member reimbursed us for catering for a board meeting. Should that be processed as a cash git with QPQ language on the receipt?
    2. An officer of the school paid for lunch/dinner meetings with donors with their own funds. They submitted the receipts and asked for a GIK letter. Are these GIKs? Or gifts at all?

    Thank you!

    Bridget



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    Bridget Everman
    The Music School of Delaware
    beverman@musicschoolofdelaware.org
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  • 2.  RE: Gifts in Kind?

    Posted 10-11-2024 11:30 AM
    The short answer is yes - these actions typically represent charitable activities.

    The first item is a bit suspect because the meeting was attended by (and benefited from the catering) such a small number of individuals. My preference in these cases is to encourage the Board member to make their donation to the annual fund. [I assume you had budgeted to cover the catering costs anyway].

    For the second item, I'd look into issuing company credit cards to your staff who frequently engage in these activities. But, yes, as long as they provide copies of the receipts reflecting the legal name of the person who paid the bill, a standard GIK receipt can be provided without any dollar amount reflected.

    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






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