allow benefit amount to exceed gift amount
Since benefits are supposed to be calculated based on the Fair Market Value of the benefit received, and not necessarily the cost to organization to provide those benefits, there are many situations in which the benefit amount might exceed the gift amount. For example, our ticket price for an event might be $50, with the benefits being a meal with a FMV of $20 and an autographed book with a FMV of $35. The book might have only cost us $15 to obtain in order to provide at the event, but regardless, the fair market value that they are receiving is a total of $55, even though the constituent only paid $50.
I can imagine other areas this might be beneficial in as well.
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Guest
- May 8 2013
Related ideas
Being able to enter a benefit amount in excess of the gift amount would be very useful for fundraising events so that all the information about the gift can be tracked on the gift record. Also, donor acknowledgment letters could be setup to pull from the fields. The receipt amount would need to default to $0 whenever the benefit exceeded the gift amount.
This would be very beneficial for auction items which very often "sell" for much less than the value.
This would be great on both the event participant record as well as the constituent's gift record. If the FMV is over the amount paid, the receipt amount would still reflect $0.00, but we would have accurate placement of FMV and payment detail within the benefits button.