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Private Plane for Athletics Travel

  • 1.  Private Plane for Athletics Travel

    Posted 14 days ago
    Hello,

    I have been researching this issue in the Archives and didn't see any recent posts. 

    We have an Alum who would like to donate his private jet to our Coach to travel to the  NCAA Golf Tournament.  The Alum is asking if this would be tax deductible. 

    Given what I have read it seems like this is a partial interest issue? 

    I have never dealt with this situation before and don't want to give incorrect information. 

    Thanks Much,
    Sharon

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    Sharon Pratt
    Assistant Director of Advancement Operations
    Denison University
    pratts@denison.edu
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  • 2.  RE: Private Plane for Athletics Travel

    Posted 14 days ago
    I question the validity of this being a gift to the University.  It seems like it is a personal benefit to the coach.  If the University had planned on paying for the coach to attend then the value of any donation would be limited to coach airfare or whatever your limits are.

    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






  • 3.  RE: Private Plane for Athletics Travel

    Posted 14 days ago

    Not a partial interest?  The university isn't getting any property, that I can see.

     

    The accounting treatment might well be based on what the university might otherwise have spent.

     

    My US$0.02 worth; the usual disclaimers apply.

     

    Good luck!

     

    Alan

     

    Alan S. Hejnal   

    Data Quality Manager

     

    SNAGHTML5cbfa34

     

    Smithsonian Institution - Office of Advancement

    600 Maryland Ave SW Ste 600E

    PO Box 37012, MRC 527

    Washington, DC 20013-7012

    Voice: 202-633-8754 | Email: HejnalA@si.edu                                                                                                                                            

     






  • 4.  RE: Private Plane for Athletics Travel

    Posted 14 days ago
    I guess the details matter. Is it truly the donation of the plane, or is it giving the coach a lift on a set of days. In the former case, it's partial interest. In the latter case it's an in-kind contribution, but is either disqualified as something the org would not buy for itself, or limited to the value of a commercial ticket.


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  • 5.  RE: Private Plane for Athletics Travel

    Posted 13 days ago
    Hello Sharon,
    I just wanted to let you know that we have had this exact situation, and we chose to book as in "in-kind" donation simply because we, The University, would have covered the travel for our coach and team to the NCAA and the "donor" didn't actually receive any direct benefit for providing the plane.  We do require proof that this happened and a FMV on what it would have cost us to fly them. And then we record at FMV, but the receipt still states "Gift in Kind" with a description of the gift, date of gift and amount of gift only in memo line.  There is no actual "value" on the GIK receipt as it is up to the donor and their tax professional to decide what they should deduct on their taxes.  We found a loop hole that works for us.  If you would like to chat more please feel free to reach out.


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    Bonnie Burleigh
    Director of Data Services
    University of Connecticut Foundation
    bburleigh@foundation.uconn.edu
    860-486-6625
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