Gift Administration

Commodities: How to Gift/Accept

Once again, timing is everything.

Our heartiest recommendation: do it right and get your organization's gift planning advisors involved early in the discussion. Do not avoid starting up a conversation with a donor--in this instance, you have an opportunity to make a donor very happy with significant tax savings.

In making and accepting the gift, the inventory must be physically accepted and the title transferred on the same day.

Typically, your organization will want to sell the commodity on that very same day.

Partnerships: How To Accept

When a prospective donor of yours holds an interest in an entity taxed as a partnership, a charitable gift can be an attractive planning opportunity for both the donor and your organization. This is true as long as ALL the partners are on the same page and that the bylaws of the partnership allow gifting.

But the transfer of a partnership interest poses special challenges for both of you.

Pages