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GIK: Gift Card Question

  • 1.  GIK: Gift Card Question

    Posted 06-27-2022 02:11 PM

    Hi, team.

    We have a situation here where a doctor received a $500 gift card.  How does your organization handle this situation?  

    To be more specific, we are interested in cards like Starbucks, Visa, etc.

    Do you raffle the ticket? HR is not interested in doing this, as it would be considered income for whomever won the raffle and would be taxed. 



    ------------------------------
    Anthony Lockett-Larsen
    Manager, Gift Administration
    Memorial Sloan Kettering Cancer Center
    locketta@mskcc.org
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  • 2.  RE: GIK: Gift Card Question

    Posted 06-27-2022 02:32 PM
    Well, as the card is worth under $600 you would not have to issue a 1099.  The winner would have to be responsible for reporting the gambling income.

    I had one client that turned a $1,000 gift card over to the Purchasing Department for use in buying material they would otherwise have used a corporate credit card for.  Why not check with the Business Office to see if they could do something similar?

    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