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  • 1.  Gift in Kind?

    Posted 03-04-2025 09:08 AM

    I'm being asked to provide a gift-in-kind tax receipt with totals for a former officer of the school who submitted receipts from restaurants/coffee shops for things like donor visits, staff meals, and staff recruitment. I've been reading up on the rules of GIK, but I'm just unclear if this is ok. Can someone please confirm?

    Thanks!



    ------------------------------
    Bridget Everman
    The Music School of Delaware
    beverman@musicschoolofdelaware.org
    ------------------------------


  • 2.  RE: Gift in Kind?

    Posted 03-04-2025 09:20 AM
    My advice in these cases ALWAYS is to tell the employee (including former) to submit their receipts for reimbursement. They can then donate the reimbursement.

    If that won't work in this case, ask the former boss to verify that the receipts reflect official business for which the employee would have been reimbursed. Once they approve those expenses a gift-in-kind receipt can be issued. However, the receipt CANNOT reflect any amounts. Only confirmation of the specific activities the individual engaged in that generated personal expenses.

    It is the responsibility of the individual to justify the actual amount claimed with the IRS.

    John

    John H. Taylor
    919.816.5903 (Cell/Text)

    Big Ideas - Small Keyboard



    Original Message


  • 3.  RE: Gift in Kind?

    Posted 03-04-2025 11:06 AM

    In this case, it's already been done. I will put in the SOPs to always ask for reimbursement in the future!

     

    One more question about what I can send. I'm going to do a list in three separate sections for cash gifts, gifts in kind, and family foundation gifts. Should I attach a copy of the receipts they submitted for gifts in kind? Of course I'll add the "consult your tax professional..." disclaimer at the bottom.

     

    Thank you!

    Bridget

     

     

     

    Bridget Gavaghan Everman

    Database Manager

    The Music School of Delaware

    (302) 762-1132 ext. 280

     




    Original Message


  • 4.  RE: Gift in Kind?

    Posted 03-04-2025 11:15 AM
    Are you referring to an end-of-year gift summary? Or a receipt?

    Private foundation gifts have no place on an office gift/tax receipt. Those should be omitted if this is a receipt.

    If this is an end-of-year summary, three groupings are fine. But the GIK group should reflect descriptions only - no dollar values.

    The foundation gifts should be marked as such - something like "Donations from the John Taylor Family Foundation For Which You Received Recognition Credit Only."

    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





    Original Message


  • 5.  RE: Gift in Kind?

    Posted 03-04-2025 11:21 AM

    They were asking for a receipt. I'm more comfortable treating it as a year-end summary though. Thanks for the advice!



    ------------------------------
    Bridget Everman
    The Music School of Delaware
    beverman@musicschoolofdelaware.org
    ------------------------------

    Original Message


  • 6.  RE: Gift in Kind?

    Posted 03-04-2025 11:51 AM
    As the list knows, I am not a fan of these summaries. However, on a one-off basis I can see how some may benefit from your hard work.

    But do make it clear on those documents that it cannot be used for tax purposes. I would not even mention "consult your tax advisor."

    I'd still omit GIK dollar amounts and clearly identify the private foundation gifts by using the foundation's legal name.

    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





    Original Message


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