Fantastic, many thanks, John!
Moira
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Moira Pulitzer-Kennedy
Mount Holyoke College
mpulitzerk@mtholyoke.edu------------------------------
Original Message:
Sent: 05-28-2026 01:42 PM
From: John Taylor
Subject: Question re: a Gift of a Horse
It actually constitutes a "revocable" gift that is not tax-deductible.
Of course, the donor can be informed that you will be selling the horse, and they can bid at auction (or however it's being sold). But you cannot promise them first dibs.
This is similar to the problem we have with many sponsored research grants that include patent/IP first-right-of-refusal language. That language makes the agreement more of a contract and not a countable grant.
John H. Taylor, PrincipalJohn H. Taylor Consulting, LLC
2604 Sevier Street
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
Original Message:
Sent: 5/28/2026 2:33:00 PM
From: Moira Pulitzer-Kennedy
Subject: Question re: a Gift of a Horse
Hi All,
We have a donor that wants to make a gift in kind of a horse to our Equestrian Center, with the provision that should the horse no longer be of use to the Center, the donor would have the right of first refusal to purchase the horse back at Fair Market Value. I would expect that this constitutes a tangible benefit and am seeking guidance on whether/how we could record this as a gift. Has anyone encountered this before?
Many thanks,
Moira
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Moira Pulitzer-Kennedy
Mount Holyoke College
mpulitzerk@mtholyoke.edu
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