Greetings All,The Athletics Department auctioned off an afternoon ride along with the area SWAT team. The donor listed its value as priceless, but I need to determine an amount for processing purposes. Any suggestions on how to value a ride in a SWAT vehicle?
Is this not considered a gift because the value of the item was listed as priceless? It was my understanding that if a person made a purchase at a fundraising auction they could receive tax credit for any amount over the value of the item. Is that not the case?
On the flip side if these are not considered gifts how should they be recorded? And do we need to send any form of acknowledgment to the purchaser? Thank you for your help.
To me, a ride-along is donated labor and therefore not a gift.
Lesley T. Pratt
Assistant Vice President, Advancement Services
Office of University Advancement
716 Columbus Avenue, 402 CP, #427
Boston, MA 02120
CASE DISTRICT 1 TREASURER