FundSvcs Community

Hi there!

I am new to advancement services, so wanting to be sure that I understand the rules around QPQ correctly (in this admittedly very narrow use case)! We are giving donors who make a gift of $25 or more thru the end of the calendar year a pair of branded socks. Is the receipt language below kosher?

Donors who make a gift of $25 or more between November 1, 2024 and December 31, 2024 will receive a complimentary pair of limited-edition UR branded socks, valued at $5. If your gift is between $25.00 and $62.50, only the amount of your contribution in excess of this value may be deductible as a charitable contribution. Consult your tax advisor.

Hi there!

I am new to advancement services, so wanting to be sure that I understand the rules around QPQ correctly (in this admittedly very narrow use case)! We are giving donors who make a gift of $25 or more thru the end of the calendar year a pair of branded socks. Is the receipt language below kosher?

Donors who make a gift of $25 or more between November 1, 2024 and December 31, 2024 will receive a complimentary pair of limited-edition UR branded socks, valued at $5. If your gift is between $25.00 and $62.50, only the amount of your contribution in excess of this value may be deductible as a charitable contribution. Consult your tax advisor.

Thank you, John! The wholesale cost of the socks to us (UR) is $4.58. These socks are not available in our school store, so I'm not sure how you would evaluate the FMV?

Hi there!

I am new to advancement services, so wanting to be sure that I understand the rules around QPQ correctly (in this admittedly very narrow use case)! We are giving donors who make a gift of $25 or more thru the end of the calendar year a pair of branded socks. Is the receipt language below kosher?

Donors who make a gift of $25 or more between November 1, 2024 and December 31, 2024 will receive a complimentary pair of limited-edition UR branded socks, valued at $5. If your gift is between $25.00 and $62.50, only the amount of your contribution in excess of this value may be deductible as a charitable contribution. Consult your tax advisor.