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Upcoming Office Hours

Zoom office hours FY 2025 1-2 pm

David Christopher is inviting you to a scheduled Zoom meeting.
Join Zoom Meeting
https://riceuniversity.zoom.us/j/94367276236?pwd=04R75y14OybEGQYJ4a4pLAxykXyxtl.1

Meeting ID: 943 6727 6236
Passcode: 829436

March 12: Payables ft. Monique Smith discussing student awards

April 9: Cancelled due to Controller’s Office workshop

May 14: Year end

June 11: Year end

 

Office hour Dec 13 on gifts

By crystald | Published December 13, 2023

The December 13 office hour covered incoming gifts.

Incoming gifts should always be deposited by Development and Alumni Relations so that the federally-required tax receipt can be issued.  Please do not deposit incoming gift checks through TouchNet.  The deadlines for calendar 2023 gifts were addressed in Melanie’s ALLDEPTS email.

  • Checks must be postmarked by December 31.  Please forward the envelope with any gift checks sent after December 31 so they can be recorded in the correct tax year.
  • Credit cards must be settled by December 31.  Donors can give online at giving.rice.edu.
  • Please contact Melanie Boyd about gift of securities or see https://giving.rice.edu/gift-securities
  • Please contact Melanie Boyd about gifts paid by wire transfer or ACH.

Jeff Yeung covered the university’s compliance reporting to the Department of Education about gifts and grants from foreign individuals and companies.  The current reporting threshold is $250,000 per year per country, but proposed laws would lower that amount.  If you have information to share on this topic please send it to foreigngiftreporting@rice.edu.

The university also accepts gifts of real estate and personal property if a department of the university has use for the donated asset.

The office hour recording is available in the FBDI folder in Box under “Zoom recordings” here https://rice.box.com/s/tkry42ne9vh9dgy7d6yzwwcb9y4zqzvm

 

 

Posted in Gifts | Comments Off on Office hour Dec 13 on gifts

Sponsorship

By crystald | Published November 30, 2016

When you’re wondering if a sponsorship payment is sales revenue or a gift, this should provide some helpful information.

Sponsorship payments should be treated as gifts as long as:

  • Sponsor receives acknowledgement including name and logo. See list 1 below.
  • Sponsor does not receive substantial return benefits. See list 2 below.
  • Sponsorship payment amount cannot be determined by level of attendance.
  1. All About Acknowledgements
  • May display name, logo, product lines, slogans.
  • May include internet address, locations, telephone numbers.
  • May not use qualitative of comparative language (“Coke is better than Pepsi.”)
  • May not include price information or indication of savings or value (“Coke is cheaper than Pepsi.”)
  • May not include inducement to purchase or use. (“Drink Coke!)
  • May not be published in a regularly scheduled magazine or publication, although inclusion in event brochures or materials are allowed.
  • May distribute sponsor’s product to the general public at the sponsored event, either for free or for a price.

2. Benefactor Benefits

  • Goods, facilities, or other privileges are a return benefit. This might include the value of a table at a career fair or the value of tickets to the event given to the sponsor for no additional charge.
  • Intellectual property such as a trademark or patent is a return benefit.
  • Advertising is considered a return benefit. (“Drink Coke!” is advertising.)
  • Exclusive provider arrangements that limit the sale, distribution, availability, or use of competing products is a return benefit (e.g. only Coke products are available on campus and Pepsi products are never sold or available.) Official provider designation is fine (e.g. “Continental is the Official Airline of Rice Football”.)
  • Aggregate fair market value of all benefits provided to the payor during the year cannot exceed 2% of the amount of the payment.

Further reading for the brave or detail-oriented : IRC Section 513(i), Treas. Reg. 1.513-4(c ) (2)(ii)

IRS recap of the IRC section and Treasury regulation:

https://www.irs.gov/charities-non-profits/advertising-or-qualified-sponsorship-payments?_ga=1.148419188.217793992.1480510129

Sponsorship payments should not be confused with sponsored project payments (generally research grants and contracts).  Sponsorship gifts should be deposited through Development into a G (gift) fund.

 

Posted in Gifts, Sponsorship | Comments Off on Sponsorship