FundSvcs Community

 View Only
  • 1.  "Selling" toy as fundraiser

    Posted 15 days ago

    We have a donor who wants to provide limited-supply bobbleheads for us to "sell" at a sports game. It makes sense to me that the bobbleheads are a GIK. The donor's intention is for us to use this bobblehead to acquire "donors." It seems that it is more straightforward to sell the bobblehead instead of figuring out what the fair market value may be for a limited-supply item. If we sell the bobblehead, could we use our regular credit card services so long as there was an updated receipt that reflected that this was not a donation? We would then also work with finance on coding these transactions as a different, non-donation source of revenue. 

    Does this seem reasonable and the path of least resistance? We would be willing to make the bobblehead a benefit of a donation if there was a way to work that out ethically.



    ------------------------------
    Torie Wright
    Maryland Food Bank
    twright@mdfoodbank.org
    ------------------------------


  • 2.  RE: "Selling" toy as fundraiser

    Posted 15 days ago
    Torie, please check with your CFO. You can combine charitable donations and sales under a single merchant account. But reconciliation can be messy.

    If your organization already has a separate merchant account for retail sales, you might be better off using that instead.

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: "Selling" toy as fundraiser

    Posted 15 days ago
    Estimating the FMV wouldn't be so difficult - there are plenty of comps available. A quick glance suggests that unremarkable bobbleheads sell for about $15, while those featuring major universities go for about $30.

    You can sell the bobblehead with any merchant account, so long as you issue an appropriate receipt. If you choose to simply sell the bobblehead without offering a deduction, you can still use your normal merchant account to receive the funds, but your receipt should not have charitable language. 


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now: