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Board compensation directly to foundation

  • 1.  Board compensation directly to foundation

    Posted 19 days ago
    We have a donor who directed his corporate board compensation directly to the hospital foundation and wants tax credit. The check came from the corporation with a letter asking to send an acknowledged to the board member since it's in his honor. 

    I'm telling my managers that we have to give tax credit to the legal donor; she wants "proof" that we can't send the donor/board member a tax letter....it's been a while since this was questioned so looking for the best "IRS/audit" answer.

    Thanks!

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    Teresa Swope
    Development Operations Manager
    Grady Health Foundation
    tpswope@gmh.edu
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  • 2.  RE: Board compensation directly to foundation

    Posted 19 days ago
    You need to contact the corporation and ask them if they will be issuing a 1099 to the individual.  If they are that is all you need to know to record the gift on the individual's record!

    If the corporation says it is their gift "in honor of" the individual, then it is a corporate gift.

    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