Jolynn Hall | Director of Special Projects and Gift Processing | University Advancement Operations
UNC Charlotte | Foundation Building 106
9201 University City Blvd | Charlotte, NC 28223
Phone: 704-687-6159 | Fax: 704-687-7259
email@example.com | www.uncc.edu
We do as John says. When people float this idea, I tell them they need to work with their publisher (or a lawyer) to assign the royalties to us. We will hard credit the publisher and soft the author. Otherwise – if they are seeking a tax deductible gift – they should continue to receive the royalties and make a gift therefrom. We haven't had situations where we get money directly from publisher, and the publisher continues to 1099 the author. I'm not sure how that would be managed or policed by us. And thus prefer the other paths.
Aaron Forrest CPA
Senior Director Gift and Donor Services
University of Rochester Office of Advancement
Larry and Cindy Bloch Alumni and Advancement Center
300 East River Road
Rochester NY 14627
Office 585.275.2799 / Fax 585-273-4558
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Timely. I am wondering how to handle these two different scenarios.
1) Donor dies and leaves future book royalties to University. Bequest hard credit to donor?
2) Donor is alive and assigns book royalties to University. Gift hard credit to publisher soft to author?