Event Items At Cost

Howard Marmorstein:

Where do you record items given for an event that are actually sold at-cost?

It's not a Gift-in-Kind because we paid for it (Gift-in-Kind is solely used for a donated for free).

We'll add an Action for the Constituent but where do you record it on the Participant for the Event?

Thanks.

Howard Marmorstein:

Never heard or that term.  Looked it up.

The answer is "no" - it's not a bargain sale.  It's just a regular sale without the mark-up normally sold at.

Unless it is a bargain sale (which I still think it could be) then you do not have a gift and you do nothing.

What makes you think it is not a bargain sale? If they are giving you a discount (even if it is down to "cost") I think it could be a bargain sale.

Howard Marmorstein:
It's our Finance's policy.  Essentially I guess we can think of them as a Vendor and wish to record on the Event what the Vendor supplied.

The IRS decides whether something you are given is a contribution or not - your finance office has no control over how it should be counted. If a vendor sells you something at a deep discount on the retail value - they qualify for tax deduction of a bargain sale and you have received a bargain sale contribution that you can/should book.

If you are still not counting this as a gift - the only way to reflect this in the events module is in the expenses tab but it is not set up to show you any discounts you received - just how much the expense was which would be the amount you paid - not the retail value.