Noncash Gifts
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AdvanceWork: Stuck in Neutral?
CURRENTS Article
The American Jobs Creation Act of 2004 altered the tax rules pertaining to charitable gifts of used vehicles. As of Jan. 1, 2005, donors can only claim the gross proceeds from the sale of their gift as a tax deduction, rather than its fair market value. This article explores the implications of this change both for donors and for the campus development officers who must process and steward such gifts.
Your Noncash Gift Questions Answered
CURRENTS Article
Duke University director of alumni and development records Taylor creates and answers some sample questions that address some common concerns about noncash gifts. He tackles questions such as on what date do gifts of stock become the property of the institution; how to value gifts of art; whether gifts should be valued at the retail or wholesale price; how to value gifts of advertising; and how to value gifts that have no history of valuation. A list of guides on noncash gifts is included.