Thanks for the information...very helpful!
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Dena Toth
Medical University of South Carolina Foundation
tothd@musc.edu------------------------------
Original Message:
Sent: 06-07-2024 10:22 AM
From: John Taylor
Subject: quid pro quo/exchange transaction or contribution?
Nope. It's a contractual obligation - an exchange transaction. "You give us X if we give you Y" violates the IRS requirement for contributions being voluntary.
CASE actually dealt with the topic a number of years ago. They call these arrangements "corporate partnerships." You would not be getting the cash if you didn't give the company something in exchange. There is no countable, or deductible, gift.
John
John H. Taylor, PrincipalJohn H. Taylor Consulting, LLC
2604 Sevier Street
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
Original Message:
Sent: 6/7/2024 11:20:00 AM
From: Dena Toth
Subject: RE: quid pro quo/exchange transaction or contribution?
How does it change if we did donate the product and there is a set payment/donation in return? Is any portion considered a donation in that scenario?
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Dena Toth
Medical University of South Carolina Foundation
tothd@musc.edu
Original Message:
Sent: 06-07-2024 10:11 AM
From: John Taylor
Subject: quid pro quo/exchange transaction or contribution?
Certainly this is a gift! Unless, however, you donated the product and contractually obligated the company to share their revenue with you.
John
John H. Taylor, PrincipalJohn H. Taylor Consulting, LLC
2604 Sevier Street
Durham, NC 27705
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
Original Message:
Sent: 6/7/2024 11:03:00 AM
From: Dena Toth
Subject: quid pro quo/exchange transaction or contribution?
Researching: If a company makes a gift with a portion of revenue it received from a product they make which came from a product that was donated to them and then sold....would this be considered a contribution or an exchange transaction/quid pro quo? How would the contribution amount (if any) be quantified?
Thanks!
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Dena Toth
Medical University of South Carolina Foundation
tothd@musc.edu
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