If you issue a receipt, it must follow IRS regulations outlined in Publication 1771. That requires a statement reflecting the full amount paid, a description and value for the benefit, and a statement indicating the charitable amount is the difference between the two.
However, the IRS does not require a receipt for QPQ donations if the payment is less than $75. So, for these low dollar amounts, you can advertise or promote that $X will be considered deductible - but don't issue a receipt.
On the other hand, as only 1 in 10 taxpayers itemize these days, I'd consider not even bothering with any language regarding deductibility and promoting the event as a "proceeds to benefit" affair.
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:
Sent: 8/11/2023 10:51:00 AM
From: Jennifer Schillaci
Subject: QPQ for Smaller Events
I'm wondering if anyone has any best practices they would be willing to share for QPQ gifts related to registration fees for smaller alumni events? It seems to be a request that is coming up more and more around here. These are typically events where the registration fee might only be $25 to come see a guest lecturer. Assuming that the registration fee is more than the determined FMV of the event, does anything beyond a disclosure of "$$ of your registration fee will be recognized as a charitable donation." needed?
Thanks!
Jen
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Jennifer Schillaci
The University of Chicago
jschillaci@uchicago.edu
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