We're trying to sort out the gift recording related to an event
being sponsored by one of our (college-based) alumni associations.
Here's the situation as I understand it.

The association has solicited donations of items to raffle or
auction off to raise money for scholarships and for lab equipment
for the particular college within the university.  They want to
take the items, hold a raffle or auction, take in the proceeds and
use them make gifts from the association to the university for
various purposes of the association's choosing.

I'm trying to sort out the transactions involved.  This alumni
association has an account on the university's books, but it's an
"agency" account, so we can't record anything to that account as a
gift to the university.  So are items donated for this event gifts
to the university, or are they gifts to this alumni association?
The association is not its own 501(c)(3), so if these are not
gifts to the university, are they deductible?  If the contributed
items *are* gifts to the university in the first place, can we
record the subsequent proceeds as gifts from the association?

Am I over-complicating this?  Does someone have a nice, simple
procedure for handling such situations?

Thanks in advance....

Alan

Alan S. Hejnal
Director of Development Operations
Marquette University
P.O. Box 1881, Milwaukee, WI  53201-1881
VOICE: (414) 288-7427  FAX: (414) 288-3585
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