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GIK or not

  • 1.  GIK or not

    Posted 6 days ago

    Our Harte Research Institute for Gulf Coast Studies and Conservation was selected by an organization, Texan by Nature, as a Conservation Wrangler  (https://texanbynature.org/programs/conservation-wrangler/).  Our team had to meet certain criteria, apply, and then be selected.

     

    The benefit of being selected are we receive:

     

    • 12-18 months of tailored support
    • Recognition and certificate
    • Promotion via social media, newsletters, blogs, website, etc.
    • Professional content production in the form of videos, collateral, and messaging
    • Program management and impact reporting
    • Connections to technical, expert, and industry support
    • Recognition and participation in annual summit

     

    All of this is given to us for free.  The organization is requesting we acknowledge them as in-kind donors and we provide them a GIK receipt.  They have valued their effort at $67,600 for consulting, GIS mapping, marketing, videography, web development, graphic design, travel, technology/supplies, meetings, etc. The question I have is can we count this as a GIK?  I'm on the fence and need some guidance.

     

    Thanks!

    Michele

     

     

    Responsibility ~ Self-Assurance ~ Arranger ~ Relator ~ Input

     



  • 2.  RE: GIK or not

    Posted 6 days ago
    Nope - most of this is not a gift from an IRS perspective.  They are giving you services and advertising - neither of which are deductible.

    You can certainly recognize them.  But, do not issue an IRS receipt.  You can refer them to IRS Publication 526 if they ask why.

    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: GIK or not

    Posted 6 days ago

    Perfect!  Thank you so much, John!  I owe you some baked goods ��

     

    Michele

     

     

     

    Responsibility ~ Self-Assurance ~ Arranger ~ Relator ~ Input