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  • 1.  Gift from Student Account

    Posted 08-10-2022 03:58 PM
    Hi everyone - we have a parent that wants to transfer their housing deposit from our Student Financial Services to the Advancement office and get at tax receipt. The housing deposit was paid by the parent, but is on the student's account. The student is not returning to the university and the parents don't want the money back.

    Since the money is on the student's account our thinking is to add the gift as being from the student and send the tax receipt under the student's name. Is that correct? I'm sure the parent would like the gift in their name and the tax receipt to go to them. Any thoughts?

    Thank you

    Lisa

    ------------------------------
    Lisa Miller
    Director
    Lynn University
    LMiller@lynn.edu
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  • 2.  RE: Gift from Student Account

    Posted 08-10-2022 04:25 PM
    It's the parent's money - paid on behalf of the student - not to the student.  The gift credit and receipt should go to the parent.

    If a parent paid tuition and requested a refund before the census date, you would return the money to the payor, right?

    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


  • 3.  RE: Gift from Student Account

    Posted 08-11-2022 07:52 AM
    Thank you.

    ------------------------------
    Lisa Miller
    Director
    Lynn University
    LMiller@lynn.edu
    ------------------------------

    Original Message


  • 4.  RE: Gift from Student Account

    Posted 08-11-2022 08:14 AM
    Advice we were previously given in a similar situation was to show on the student account that the money was refunded to the parent and then attached the email from them as gift documentation.  That way all our financial records showed exactly who had ownership of the money and that it was a gift back to the college.

    Joel



    Joel Clasemann (he, him, his)

    Director of Advancement Services


    jclasema@css.edu | 218-723-6479

    css.edu/campaign



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    Original Message


  • 5.  RE: Gift from Student Account

    Posted 08-11-2022 08:39 AM

    That's a great point Joel. Then we have the backup we need.

     

    Lisa A. Miller, DM
    Director
    Office of University Advancement


    T: +1 561-237-7745

    M: +1 561-866-0428

     




    Original Message


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