FundSvcs Community

 View Only
  • 1.  Gift-in-Kind for recognition credit for paying for an event

    Posted 10-30-2023 02:00 PM

    We have donors who are hosting and paying for events for us and want credit for what they paid. Our GIK form is for gifts of property and doesn't adequately handle this type of gift. Would anyone have a form specific to this? I looked in the library and did not find one.

    Thank you.



    ------------------------------
    Therese Morris
    St. Paul's School
    tmorris@sps.edu
    ------------------------------


  • 2.  RE: Gift-in-Kind for recognition credit for paying for an event

    Posted 10-30-2023 02:07 PM
    You don't really need a form. What you need is to stop doing this :-).

    Seriously, the School should conduct these events and pay the bills. If an individual wishes to underwrite the costs, they can write you a check.

    Absent that, no form is needed as much as a copy of all the receipts and proof of who paid the bills (canceled check or credit card receipt. Then, you need to verify the expenditures were appropriate and determine who paid the bill. You then issue a GIK receipt to that individual(s), but without mentioning any dollar amount.

    A third option is to reimburse the individuals for their costs, and then they can write you a check.

    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






  • 3.  RE: Gift-in-Kind for recognition credit for paying for an event

    Posted 10-31-2023 01:29 PM

    Thanks John. I have always recommended this, "the School should conduct these events and pay the bills. If an individual wishes to underwrite the costs, they can write you a check."

     

    We will proceed with collecting the invitation and receipts to give recognition credit for this event, no form needed, and no receipt value. I have asked the Director to talk to Admissions as they are promising gift credit for hosting and paying for the event.

     

    Therese

     

    Therese M. Morris

    Advancement Data Manager

    St. Paul's School

    P. 603-229-4735

    tmorris@sps.edu