Tickets to Gift in-Kind
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I have a dilemma. A donor purchased tickets. They decided they were not going to use the tickets and returned it back to us to do with them as we like. We took the benefits off the ticket price and they received the full deduction. Now, they want the tickets to reflect as a gift in kind, despite getting the deduction. Is this right and above board?
Cheena
Cheena
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IMO, no, they can not get both credit for full ticket price and a GIK. One or the other.
Per my understanding they should not even receive the 'full deduction' for tickets as they did not state prior to purchase their intent to return tickets for your use. As this question is not specific to RE, I recommend going to fundsvcs.org. This question was raised last month and there are a lot of posts from very knowledgeable people on handling this.2 -
Thanks so much.
CheenaDeAraujo-DesirDatabaseManager INTERNATIONAL TENNIS HALL OF FAME194Bellevue Avenue, Newport, RI 02840Direct:401-324-4073 / Fax: 401-324-4055www.tennisfame.com There Is No Higher Court!0 -
JoAnn Strommen:
IMO, no, they can not get both credit for full ticket price and a GIK. One or the other.
Per my understanding they should not even receive the 'full deduction' for tickets as they did not state prior to purchase their intent to return tickets for your use. As this question is not specific to RE, I recommend going to fundsvcs.org. This question was raised last month and there are a lot of posts from very knowledgeable people on handling this.Not a member of the fundsvcs.org. Thanks though for the info.
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Don't know that you have to be a member to search their archives. Click second item under Main Menu on left side of page. They also give directions to search using google site specific.0
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JoAnn Strommen:
Don't know that you have to be a member to search their archives. Click second item under Main Menu on left side of page. They also give directions to search using google site specific.Realized belatedly that I could search. Haven't found it yet but by the look of it my gut is right (usually is).
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