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  • 1.  Vendor Wishing to make Donation of Reduction in Bill

    Posted 01-30-2023 07:55 AM
    Hello - 

    We have a vendor who would like to make a donation to the University with a reduction in our bill for a capital project.

    Has anyone ever experienced this.  What documentation would we need?  What type of receipt would we need to provide?

    Thank you!

    Janet Christensen

    Coordinator of Gift and Donor Services

    St. John Fisher University



    ------------------------------
    Janet Christensen
    Coordinator of Gift and Donor Services
    St. John Fisher College
    jchristensen@sjfc.edu
    ------------------------------


  • 2.  RE: Vendor Wishing to make Donation of Reduction in Bill

    Posted 01-30-2023 08:06 AM
    As long as the reduction is for supplies or equipment, that is a bargain sale. These are discussed in IRS publication 526. The discount amount is recorded as a GIK.

    If the discount is on labor or services, there is no gift to record. Although you may want to offer recognition credit.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard



    Original Message


  • 3.  RE: Vendor Wishing to make Donation of Reduction in Bill

    Posted 01-30-2023 08:46 AM
    I should have mentioned that CASE discusses the topic of deep discounts and bargain sales on page 30 of the new Standards.

    Contributed services as non-gifts are covered in IRS Publication 526 and also mentioned as counting exclusions on page 25 of the new Standards.

    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


    On Mon, Jan 30, 2023 at 6:05 AM John Taylor <johntaylorconsulting@gmail.com> wrote:
    As long as the reduction is for supplies or equipment, that is a bargain sale. These are discussed in IRS publication 526. The discount amount is recorded as a GIK.

    If the discount is on labor or services, there is no gift to record. Although you may want to offer recognition credit.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard



    Original Message


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