Re: private foundation grants Barbara Gray 07 Jan 2004 16:14 EST
Oops...sorry, all....I really misread this one! Oh well, maybe the CASE reference will be useful to someone out there sooner or later...Thanks for the clarification, Chuck. Barbara :-[ Herbert B. Chermside wrote: > The primary focus of this was expressly the donation of Intellectual > Property and the appropriate valuation of such. For example, was the IP > essentially useless, and thus valueless, but taken as a gift write-off > based on costs or some other value that did not recognize the true > present > value of the gift. > > It is part of a focus on generating tax write-offs at a value greater > than > present value of the gift. > > It has nothing to do with foundation supported sponsored programs. > > Chuck > > > At 12:45 PM 1/7/2004, you wrote: > >> Happy New Year! I am hoping someone can clarify this for me: >> >> The Philanthropy Digest reports that: >> >> "The IRS intends to seek penalties for improper deductions for gifts of >> intellectual property and said it would review, and perhaps penalize, >> promoters and appraisers who solicited such transactions. Earlier this >> month, Senate Finance Committee chairman Charles Grassley (R-IA) said >> his >> panel would pay closer attention to the deductions claimed for a wide >> variety of noncash contributions such as cars, real estate, and patents. >> >> "We're seeing an increasing number of donations that don't pass the >> smell >> test," said IRS commissioner Mark W. Everson. "Donations that are overly >> inflated or made with strings attached are going to receive increased >> scrutiny." >> >> I know that they are talking about inkind donations from individuals, >> but >> my question is this: Can grants made by private foundations in >> support of >> research (strings attached) be counted as part of a university's annual >> campaign. I think most of us would agree that it should not be >> counted--but what is the source that says that this is not allowed? I >> would really appreciate specific citations. >> >> Thanks to anyone who can help--please send to be directly as I am on the >> digest format. >> >> Pam >> >> >> Pamela F. Miller, Ph.D. >> Director, Office of Sponsored Projects >> The University of San Francisco >> 2130 Fulton Street >> San Francisco, CA 94117-1080 >> TEL 415-422-5368 >> FAX 415-422-6222 >> EMAIL xxxxxx@usfca.edu >> >> ====================================================================== >> Instructions on how to use the RESADM-L Mailing List, including >> subscription information and a web-searchable archive, are available via >> our web site at http://www.hrinet.org (click on "Listserv Lists") >> ====================================================================== > > > Herbert B. Chermside, CRA > > Virginia Commonwealth University > Sanger Hall, Room 1-022 > PO BOX 980568 > Richmond, VA 23298-0568 > Voice: 804-827-6036 > Fax 804-828-2051 > e-mail xxxxxx@vcu.edu > > > ====================================================================== > Instructions on how to use the RESADM-L Mailing List, including > subscription information and a web-searchable archive, are available > via our web site at http://www.hrinet.org (click on "Listserv Lists") > ====================================================================== -- ================================================================== Barbara H. Gray, Director Office of Research & Grants Administration College of Charleston 66 George Street Charleston, SC 29424 Campus Location: 407-G Bell Bldg. Office: 843.953.5673 Desk: 843.953.5885 Fax: 843.953.6577 e-mail: xxxxxx@cofc.edu URL: http://www.orga.cofc.edu/ ================================================================== ====================================================================== Instructions on how to use the RESADM-L Mailing List, including subscription information and a web-searchable archive, are available via our web site at http://www.hrinet.org (click on "Listserv Lists") ======================================================================