FundSvcs Community

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Yes, it makes sense that the monetary donor wouldn't receive a tax benefit.  But we can give the HVAC company an in-kind receipt for the donation of x number of HVAC units, correct?  

Also, if the HVAC company gives a customer $50 off the price of a unit in exchange for a $100 donation, would we say that the donor received goods and services of $50?

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Yes, it makes sense that the monetary donor wouldn't receive a tax benefit.  But we can give the HVAC company an in-kind receipt for the donation of x number of HVAC units, correct?  

Also, if the HVAC company gives a customer $50 off the price of a unit in exchange for a $100 donation, would we say that the donor received goods and services of $50?

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Yes, it makes sense that the monetary donor wouldn't receive a tax benefit.  But we can give the HVAC company an in-kind receipt for the donation of x number of HVAC units, correct?  

Also, if the HVAC company gives a customer $50 off the price of a unit in exchange for a $100 donation, would we say that the donor received goods and services of $50?

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

Yes, it makes sense that the monetary donor wouldn't receive a tax benefit.  But we can give the HVAC company an in-kind receipt for the donation of x number of HVAC units, correct?  

Also, if the HVAC company gives a customer $50 off the price of a unit in exchange for a $100 donation, would we say that the donor received goods and services of $50?

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input. 

I'm glad you didn't lose sleep, John!  I don't think there are bad intentions here, just supporters who are trying to think of innovative ways to raise money but don't understand the IRS rules.  We're working to educate them that there is no tax-deductible donation here for anyone.  I appreciate your input!

Yes, it makes sense that the monetary donor wouldn't receive a tax benefit.  But we can give the HVAC company an in-kind receipt for the donation of x number of HVAC units, correct?  

Also, if the HVAC company gives a customer $50 off the price of a unit in exchange for a $100 donation, would we say that the donor received goods and services of $50?

Sorry, I wasn't very clear.  A customer of the HVAC company is giving us $10K and the HVAC company will install an HVAC for that customer in exchange.

We have a situation that is new to me, so I thought I'd get some advice.  We have an HVAC company that is willing to give and install an HVAC unit worth about $13,000 in exchange for a $10,000 donation to our organization.  So the $10K donor wouldn't get a tax deduction because the goods and services would be more than than the donation.  But is there any problem with crediting the HVAC company for the in-kind amount of the HVAC units they give to the donors?  Are there any problems that I should be thinking of?

I appreciate any input.