If your student organization receives donations from either alumni, other individual donors, and/or companies, contact Arcelia Rodriguez about how to:
- Accept these gifts and donations
- Thank the alumni, individual donor, or company
- Access donated products and money
A rule of thumbs to keep in mind is that it may not be considered a donation if the individual or company contributing money or products gets something in return.
Donors vs Sponsors
Donors give a gift such as funds, food, products, etc. without receiving anything in return. Donors are tax exempt and the University can send them a tax ID letter if the gift is over a certain amount.
On the other hand, sponsors contribute funds, food, products, etc. and are recognized in some way on event advertising and/or at the event (i.e. ads, banners, logos on shirts, etc). A contribution made by a sponsor is not tax exempt.
Types of Donations
In-kind donations are products such as food, beverages, equipment, clothing, product, etc. Out-right gifts are monetary such as cash, check, or credit card payments.
Receiving a Donation
If your student organization receives a donation, you need to submit the donor's check or credit card payment to Arcelia Rodriguez, who will process the donation. The Development Office will later send the donor a "thank you" or acknowledgement letter for tax purposes.
Making a Donation
If your student organization makes a donation, the CSL staff will assist you with sending a letter that accompanies the donation to the beneficiary.
Thanking a Donor
If your organization would like to formally thank a donor, your letter should not disclose the dollar amount or value of the donation. Instead, your letter should include the following statement: "For tax purposes a receipt will be mailed to you separately." The Development Office will be the one to mail this receipt.
Failure to comply with these acknowledgement guidelines may result in IRS fines for duplicate receiving and/or may result in confusion to the donor during tax-preparation time.
Market Value of Gifts
The market value of a gift is not determined by the cost of the item to your student organization, but rather is the amount that the gift is worth if sold to the general public.