So I Googled a bit (cause I'm a geek about nonprofit law), and I found evidence that in SOME cases, the fair market value of incentives given to a volunteer could be reportable. One organization's policy states that if the value of incentives given to the volunteer during one calendar year is $600 or above, they will issue a 1099 for that volunteer. This is consistent with the instructions for Form 1099-MISC. http://www.irs.gov/instructions/i1099msc/ar02.html#d0e652
::: Enter nonemployee compensation of $600 or more. Include fees, commissions, prizes and awards for services performed as a nonemployee, other forms of compensation for services performed for your trade or business by an individual who is not your employee :::
Leading me to conclude that in the **vast** majority of cases when incentives are given to a volunteer ($10 gift card to Starbucks, a paperweight, a refrigerator magnet, a recognition lunch, theater tickets), there is no tax liability and therefore nothing to report.
++++++++++++++++++
Why hide your light under a bushel of bears, I ask you?
I was still fixated on this idea of giving a car as a thank you for a few hours of serving meals in a soup kitchen.
>> That would be the mug, magazine and such that one receives with membership, but of course something different than the topic at hand, but still interesting to another geek, lol. <<
... and the fair market value of your meal if you attend a fundraising dinner... Oh, I could go on about this for days. DAYS! LOL!
++++++++++++++++++
Why hide your light under a bushel of bears, I ask you?
who are all these charities giving gifts -- I've been in nonprofits since 1989 and I ain't given more than a boooookay of posies to my bestes volunteers. sometimes I gives my donor's a glass of chabbbleeee but shoot.... I ain't never gifted them no fancy car or nuttin...
Pages
So I Googled a bit (cause I'm a geek about nonprofit law), and I found evidence that in SOME cases, the fair market value of incentives given to a volunteer could be reportable. One organization's policy states that if the value of incentives given to the volunteer during one calendar year is $600 or above, they will issue a 1099 for that volunteer. This is consistent with the instructions for Form 1099-MISC. http://www.irs.gov/instructions/i1099msc/ar02.html#d0e652
::: Enter nonemployee compensation of $600 or more. Include fees, commissions, prizes and awards for services performed as a nonemployee, other forms of compensation for services performed for your trade or business by an individual who is not your employee :::
Leading me to conclude that in the **vast** majority of cases when incentives are given to a volunteer ($10 gift card to Starbucks, a paperweight, a refrigerator magnet, a recognition lunch, theater tickets), there is no tax liability and therefore nothing to report.
++++++++++++++++++
Why hide your light under a bushel of bears, I ask you?
Why hide your light under a bushel of bears, I ask you?
++++++++++++++++++
Why hide your light under a bushel of bears, I ask you?
Why hide your light under a bushel of bears, I ask you?
Yep, although that is limited to the a portion of the debate, the organization giving a gift of thanks.
PumpkinAngel
Right you are...
I was still fixated on this idea of giving a car as a thank you for a few hours of serving meals in a soup kitchen.
>> That would be the mug, magazine and such that one receives with membership, but of course something different than the topic at hand, but still interesting to another geek, lol. <<
... and the fair market value of your meal if you attend a fundraising dinner... Oh, I could go on about this for days. DAYS! LOL!
++++++++++++++++++
Why hide your light under a bushel of bears, I ask you?
Why hide your light under a bushel of bears, I ask you?
Pages