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  • 1.  GIK who is the donor

    Posted 3 days ago

    Hello folks and happy new year,

    I'm having difficulty wrapping my brain around how to make this GIK work.

    Donor A wants to pay Corp. B to paint an airplane that Cal Poly owns and is used for coursework. Would this be a GIK from Donor A?

    The relationship manager is trying to convince Donor A to give us the cash instead but so far, that has not been successful.

    Thanks for any guidance.

    Best,

    Anita



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    Anita Lawson
    Cal Poly San Luis Obispo
    alawso11@calpoly.edu
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  • 2.  RE: GIK who is the donor

    Posted 3 days ago
    Giving you cash is absolutely the right thing to do. Red flags rise in my mind if the donor refuses to make an outright gift to you.

    However, if you can demonstrate that you wanted the donor to have the plane painted (hopefully in the colors you want), a GIK can be recorded. You will need a copy of the invoice and a proof of payment (clearly reflecting the name of the entity making the payment). 

    The receipt - describing g the gift without stating a value - would be issued to the entity making the payment.

    John

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



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