Whenever I have received any donated telescope in the past, I have always
told the person that the value of the donated telescope is roughly half of
what he originally paid for it. I have then done some research on what he
had to donate, I then split the retail value in half, and give that to them
as a rough estimate. I have always told them I can't give them the donation
value, that's up to them.
I have also been advised to accept nothing less than 6 inches in diameter,
and in good condition. Because in the past, I have received quite a few
older, cheaply made, 4 inch reflectors on EQ mounts like you might find at
Walmart or K-mart, some needing a lot of TLC. We also have a 70 mm
celestron refractor that celestron should be ashamed to have put their name
on. So now I'm limiting accepted donations to at least 6 inches diameter
and need to be in good usable condition.
I have another donated scope to add for another possible auction in 2018.
Last June a handicapped gentleman in Oro Valley {10 miles north of Tucson}
contacted me and said he had a 16 Inch truss tube telescope that he wanted
to donate to EVAC. He said the only prerequisite was that I had to come get
it, because he had no way of bringing it to anyone. He got no response from
TAA {Tuscon Astronomy Association} so he later contacted me. My son lives
in Tuscon, so one weekend we went to Oro Valley to look at it and load it
in my truck. It is rather large, {20 X 20 rocker box} and it's as tall as I
am when assembled. We don't have room in the EVAC storage room, so I have
made temporary space in my spare bedroom. It has wheel barrel handles on
the sides so it is movable, and I've used it a couple of times, the
ArgoNavis locating system seems to work, but I can't get the collimation
exact, being an f/4 telescope. He said he paid about $8000.00 for it about
10 years ago, so I gave him a rough value of $5000.00, but the total amount
was up to him. The guy that made this is a machinist, with woodworking as a
hobby, so this telescope is well made.
Thanx, David
On Fri, Dec 22, 2017 at 3:44 PM, Tom Mozdzen <tjmozdzen@xxxxxxxxx> wrote:
Hi all,
The trick is to not do quid pro quo. If someone gives us money or
equipment as a pure donation, I'm nearly 100% sure it is up to the person
making the donation to substantiate the value, not the charity receiving
the donation.
So in case of the Meade scope, we can give the donor a receipt saying that
we have received the donation, but it is up to the donor to determine the
value of the equipment given.
Now, in this case, the donor is asking the receiving institute (EVAC) to
help him evaluate it. Our word is not gospel, but he should use our
estimate along with some more work on his part, to make a reasonable
estimate of its value. If we sell the donation, that can serve as a minimum
value. If we would sell his scope for $300 sometime in the future, that
doesn't mean the value was $300, just that we let it go really cheaply.
I'll continue to research.
Tom
On Fri, Dec 22, 2017 at 2:10 PM, Lana Young <lyoung02@xxxxxxx> wrote:
I, like Brooks, am very concerned about our process (or lack of one) for
receiving these kind of donations. I believe there are IRS implications
and additional processes we need to develop.
I applaud Brooks for offering to be on that property committee to do the
selling/disposition part. However, there is a need for a ‘gift acceptance
policy’ that will be needed for the 990 if we note that we have received
contributions in the last year. I am not a cpa or even a bookkeeper, but
know that our accounting would need to be expanded as well to have a
contribution area to financially and this would lead me to again suggest
that we also have our books monitored/set up with the help of a CPA. A cost
but if we are going to run a nonprofit, it is a business and businesses
have administrative costs.
I did a quick irs search and here is some food for thought ....
We
https://www.irs.gov/charities-non-profits/charitable-organiz
ations/charitable-organizations-substantiation-and-disclosur
e-requirements
‘Many charitable organizations described in section 501(c)(3), other than
testing for public safety organizations, are eligible to receive
tax-deductible contributions in accordance with section 170. Most eligible
organizations are listed in Exempt Organizations Select Check (Pub 78
database)
<https://www.irs.gov/charities-non-profits/organizations-eligible-to-receive-tax-deductible-charitable-contributions>
.
A charitable organization must provide a written disclosure statement to
donors of a quid pro quo contribution in excess of $75. A *quid pro quo
contribution* is a payment made to a charity by a donor partly as a
contribution and partly for goods or services provided to the donor by the
charity. For example, if a donor gives a charity $100 and receives a
concert ticket valued at $40, the donor has made a quid pro quo
contribution. In this example, the charitable contribution portion of the
payment is $60. Even though the part of the payment available for deduction
does not exceed $75, a disclosure statement must be filed because the
donor's payment (quid pro quo contribution) exceeds $75. The required
written disclosure statement must:
1. Inform the donor that the amount of the contribution that is
deductible for federal income tax purposes is limited to the excess of any
money (and the value of any property other than money) contributed by the
donor over the value of goods or services provided by the charity, and
2. Provide the donor with a good faith estimate of the value of the
goods or services that the donor received.
The charity must furnish the statement in connection with either the
solicitation or the receipt of the quid pro quo contribution. If the
disclosure statement is furnished in connection with a particular
solicitation, it is not necessary for the organization to provide another
statement when the associated contribution is actually received.
No disclosure statement is required when:
1. The goods or services given to a donor meet the standards for
*insubstantial
value* set out in Revenue Procedure 90-12
<https://www.irs.gov/pub/irs-tege/rp_1990-12.pdf>, 1990-1 C.B. 471,
and Revenue Procedure 92-49
<https://www.irs.gov/pub/irs-tege/rp92_49.pdf>, 1992-1 C.B. 987 (as
updated);
2. There is no donative element involved in a particular transaction
with a charity (for example, there is generally no donative element
involved in a visitor's purchase from a museum gift shop); or
3. There is only an intangible religious benefit provided to the
donor. The intangible religious benefit must be provided to the donor by
an
organization organized exclusively for religious purposes, and must be of
a
type that generally is not sold in a commercial transaction outside the
donative context.
A penalty is imposed on a charity that does not make the required
disclosure in connection with a quid pro quo contribution of more than $75.
The penalty is $10 per contribution, not to exceed $5,000 per fund-raising
event or mailing. The charity can avoid the penalty if it can show that the
failure was due to reasonable cause.
Under a new recordkeeping rule
<https://www.irs.gov/charities-non-profits/contributors/written-record-of-charitable-contribution>
effective
for all cash, check, electronic funds transfers, credit card charges, or
other monetary contributions of any amount made in taxable years beginning
after August 17, 2006, the donor must obtain and keep a bank record or a
written communication from the donee as a record of the contribution.
Written records prepared by the donor (such as check registers or personal
notations) are no longer sufficient to support charitable contributions.
*Bank
records* for this recordkeeping requirement include bank or credit union
statements, canceled checks, or credit card statements. They must show the
date paid or posted, the name of the charity, and the amount of the
payment. Taxpayers who claim charitable contributions made by payroll
deduction <https://www.irs.gov/irb/2006-51_IRB/ar12.html> can satisfy
the recordkeeping requirement if the donor has (1) a pay stub, W-2, or
other document furnished by the employer that states the amount withheld
for payment to charity, and (2) a pledge card other document prepared by or
at the direction of the charity that shows the name of a donee. An
organization described in section 170(c), or a Principal Combined Fund
Organization for purposes of the Combined Federal Campaign, will be treated
as a donee organization for purposes of the new recordkeeping provision.
A donor claiming a deduction of $250 or more is also required to obtain
and keep a contemporaneous written acknowledgment for a charitable
contribution . To be contemporaneous the written acknowledgment must
generally be obtained by the donor no later than the date the donor files
the return for the year the contribution is made. The written
acknowledgment must state whether the donee provides any goods or services
in consideration for the contribution. If the donee provides goods or
services to the donor in exchange for the contribution (a quid pro quo
contribution), the written acknowledgment must include a good faith
estimate of the value of the goods or services. The donee is not required
to record or report this information to the IRS on behalf of a donor. The
donor is responsible for requesting and obtaining the written
acknowledgement from the donee. Although there is no prescribed format for
the written acknowledgment, it must provide sufficient information to
substantiate the amount of the contribution. For more information, see
Publication
1771 <https://www.irs.gov/pub/irs-pdf/p1771.pdf>.
The contemporaneous written acknowledgment may be contained in the same
document as the written communication from the donee used to satisfy the
new cash recordkeeping requirement, as long as it contains all information
required by both the recordkeeping requirement and the contemporaneous
written acknowledgment requirement.
For claimed contributions over $5,000, generally a qualified appraisal
prepared by a qualified appraiser must be obtained. For appraisals
prepared in connection with returns or submissions filed after August 17,
2006, see Notice 2006-96 <https://www.irs.gov/irb/2006-46_IRB/ar13.html>.
Household items and clothing contributed to charity after August 17, 2006
must be in at least good used condition to be deductible. This requirement
does not apply to contributions of food, paintings, antiques, other art
objects, jewelry and gems, or collections, and does not apply to a
contribution of an item for which a deduction of more than $500 is claimed
if the taxpayer obtains a qualified appraisal of the item.’
Lana
Sent from my iPad
On Dec 22, 2017, at 1:42 PM, Claude Haynes <azstargeazer@xxxxxxxxx>
wrote:
Just for the record.
I looked up the items on the Meade website. The eyepiece collection may
have been a special offer at the time. It isn't a current bundle, and
there isn't a Barlow.. Equipment looks pretty much unused. I will set it
up to confirm the optics. The table below shows current retail prices.
Item Comment Retail Price
Meade 8" LX 200 GPS On sale on website for $2,499 2699
Meade Micro Focuser 209.95
Meade Series 4000 40mm Plossl 49.99
Meade Series 4000 32mm Plossl Discontinued 34.99
Meade Series 4000 26mm Plossl 34.99
Meade Series 4000 20mm Plossl 34.99
Meade Series 4000 15mm Plossl 31.99
Meade Series 4000 9.7mm Plossl 29.99
Meade Series 4000 12.4mm Plossl 29.99
Meade Series 4000 6.4mm Plossl 29.99
Eyepiece Case Silver case with foam - not on Meade website 50
Total 3235.87
The info below is the thread of email messages. Names and addresses are
in the text. If we don't issue the letter until after January 1st, we can
reference the pickup date if he is wanting the donation to fall into this
tax year. (not sure what is a deductible allowed next year).
Thanks
---------- Forwarded message ----------
From: Cory Sheppard <corysheppard360@xxxxxxxxx>
Date: Thu, Dec 21, 2017 at 1:24 PM
Subject: Re: Meade Telescope Donation
To: Claude Haynes <azstargeazer@xxxxxxxxx>
Sure, that works great! See you then.
Cory
On Dec 21, 2017, at 1:10 PM, Claude Haynes <azstargeazer@xxxxxxxxx>
wrote:
Tomorrow morning is open for me, if that works for you. Say 10:00am.
Please let me know if another time is better.
On Thu, Dec 21, 2017 at 7:44 AM, Cory Sheppard <corysheppard360@xxxxxxxxx
wrote:
Sounds great! My address is 3161 N Parkridge
<https://maps.google.com/?q=3161+N+Parkridge&entry=gmail&source=g> in
Mesa. Any time is good...just call to make sure I’m here.
Cory
On Dec 20, 2017, at 7:02 PM, Claude Haynes <azstargeazer@xxxxxxxxx>
wrote:
Hi Cory - thanks for your email
The only bad telescope is one that doesn't get used. It seems like a
nice telescope, and we would be delighted to help show you how to use it.
If that isn't something you want to do I can pick it up and we can auction
it at a club meeting to see that it gets some use, or find another group,
like a school, that can use it. Our Treasurer will review the item and
provide an estimate of the fair market value. We will provide a letter to
your father and he can use it for tax purposes as he chooses. Let me know
your address and we can find a convenient time. Feel free to contact me on
my cell phone in my signature.
Best wishes
On Wed, Dec 20, 2017 at 10:14 AM, Cory Sheppard <
corysheppard360@xxxxxxxxx> wrote:
Hi Don,
My father bought this telescope years ago, but doesn’t use it anymore.
He has asked me to donate it. I found the East Valley Astronomy Club
online, and thought you may be interested. I live in northeast Mesa, where
it has been in my garage for some now. Please give me a call anytime.
Cory Sheppard 623-980-2494
My dad’s name is Ron Sheppard and his number is 208-709-6935 if you
would like to speak to him directly. I have also CC’d him on this email. He
lives in Idaho, but will be visiting here shortly after Christmas. As EVAC
is a 501(c)(3), he will probably submit this as a charitable donation, so
he may appreciate your help with determining a value.
Thank you,
Cory
--
Claude Haynes
azstargeazer@xxxxxxxxx
480-221-5792 <(480)%20221-5792> (cell)
--
Claude Haynes
azstargeazer@xxxxxxxxx
480-221-5792 <(480)%20221-5792> (cell)
--
Claude Haynes
azstargeazer@xxxxxxxxx
480-221-5792 <(480)%20221-5792> (cell)
Attachment:
16 SSM.jpg
Description: JPEG image
Attachment:
Donation Receipt June 10, 2017.doc
Description: MS-Word document
