Wichita Collegiate School

Gift Receipting Policy

Gift acknowledgement will be handled in accordance with:

I.R.S. Publication 1771, Charitable Contributions – Substantiation and Disclosure
Requirements & I.R.S. Publication 561.

All donors will be provided with a timely written statement containing the following
information:

• Name – Wichita Collegiate School

• Name of fund, project, or campaign with any specific donor declarations
• Date of the contribution
• Amount of the contribution if it is a cash gift
• Description (but not the value) of non-cash contributions which includes all
gifts-in-kind.
• Stock is considered by the IRS to be a gift-in-kind and no values will be put onto
receipts – provided to the donor will be # of shares, name of stock, and transfer
date based on IRS publication 561
• A statement that no goods or services were provided by Wichita Collegiate
School in return for the contribution, if that is the case
• A statement that goods or services, if any, that Wichita Collegiate School
provided in return for the contribution, if that is the case
o Goods and services received must be included if they are considered to be
substantial
o The IRS defines substantial as ‘not to exceed the lesser of 2% of the
payment or the only items provided bear the Wichita Collegiate School
name or logo and the cost of these items is within the limit for “low-cost
articles”

Board of Trustee Approval 9/9/09