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value of equipment

  • 1.  value of equipment

    Posted 7 days ago
    Good morning,

    We have a donor gifting equipment to one of our Colleges. The donor values the equipment at $500,000 while the College values it at $400,000. As I read the CASE standards, we should use the College value of $400,000 for gift entry, correct?

    Many thanks,
    Jolynn

    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

    jhall144@uncc.edu | www.uncc.edu



  • 2.  RE: value of equipment

    Posted 7 days ago
    More specifically, you should use the value your Gift Acceptance Committee agrees to.

    John Taylor
    919.816.5903

    Big ideas; small keyboard





  • 3.  RE: value of equipment

    Posted 7 days ago
    Yes, you have to value it yourself, and record the gift at that value. The donor's valuation may not be relied upon.

    Thank you,
    Isaac Shalev
    CRM Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:






  • 4.  RE: value of equipment

    Posted 7 days ago
    BTW, at this level, the donor will need a fully executed 8283 to claim a deduction. That form must be certified by a qualified appraiser.  That information should be considered by the Gift Acceptance Committee.

    But note that the appraised value may be deemed too high by the GAC.  The CASE Guidelines address this.

    The bottom line in this case is the bottom line!  Regardless of what the donor says, you need to follow the lead of the GAC, including the CFO.

    John

    John Taylor
    919.816.5903

    Big ideas; small keyboard

    On Jun 26, 2020, at 9:28 AM, John Taylor <johntaylorconsulting@gmail.com> wrote:

    More specifically, you should use the value your Gift Acceptance Committee agrees to.

    John Taylor
    919.816.5903

    Big ideas; small keyboard





  • 5.  RE: value of equipment

    Posted 7 days ago
    Thanks, All!

    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

    jhall144@uncc.edu | www.uncc.edu