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GIFTS/AWARDS/INCENTIVES

GIFTS/AWARDS/INCENTIVES. How to fill out Gifts/Awards/Incentives Form. GIFTS/AWARDS/INCENTIVES. The Purchaser Information section identifies the department making the purchase and provides information needed to connect the financial transaction with the gift recipient for monthly reporting.

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GIFTS/AWARDS/INCENTIVES

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  1. GIFTS/AWARDS/INCENTIVES How to fill out Gifts/Awards/Incentives Form

  2. GIFTS/AWARDS/INCENTIVES The Purchaser Information section identifies the department making the purchase and provides information needed to connect the financial transaction with the gift recipient for monthly reporting. WHY IS THIS INFORMATION NECESSARY? For Accounts Payable to know whom to contact with a question and how to identify the financial transaction for monthly reporting. PURCHASER INFORMATION Department: ____________________________________________________________________ Requestor Name: _____________________________ Ext. __________ Vendor No (or Name & Empl ID for reimbursements)____________ Payment method (check one) : __Requisition/P.O. __ Employee reimbursement __Pcard __Payment Request form

  3. GIFTS/AWARDS/INCENTIVES The Required Recipient Information section identifies the individual who received the gift and their citizenship status. If the individual is a Non US Citizen, make sure to contact Administrative Accounting BEFORE the gift is given. WHY IS THIS INFORMATION NECESSARY? Certain IRS tax rules may apply if the recipient is a Non US citizen. Unlike the tax treatment for US citizens, Non US citizen tax treatments must occur BEFORE the gift is presented to the recipient. REQUIRED RECIPIENT INFORMATION Is the recipient a Non US Citizen? __NO __YES - STOP: If you answered ‘YES’ to this question, please contact Administrative Accounting at extension 6-2543 BEFORE gift is presented Recipient Name (PRINT): _______________________________________

  4. Non-Employee SSN: _______________________________ Address: ____________________________ City/State/Zip: _______________________ Is the recipient related to an employee of the University? __ Yes __ No GIFTS/AWARDS/INCENTIVES The Employee and Non-Employee Information section identifies more detail regarding the individual receiving the gift. Remember – if a student works on campus they are considered an employee. WHY IS THIS INFORMATION NECESSARY? To let Accounts Payable know which tax treatment is appropriate (taxable fringe or 1099) and further identify the individual. Employee Employee ID No.: ________________________ Department: _____________________________ Campus Ext: ____________________________

  5. Non-Employee SSN: _______________________________ Address: ____________________________ City/State/Zip: _______________________ Is the recipient related to an employee of the University? __ Yes __ No GIFTS/AWARDS/INCENTIVES The Employee section – fill out this section if the recipient is an employee. Remember – if the student works on campus they are considered an employee. WHY IS THIS INFORMATION NECESSARY? To provide identifying information for taxable fringe processing. Employee Employee ID No.: ________________________ Department: _____________________________ Campus Ext: ____________________________

  6. Non-Employee SSN: _______________________________ Address: ____________________________ City/State/Zip: _______________________ Is the recipient related to an employee of the University? __ Yes __ No GIFTS/AWARDS/INCENTIVES The Non-Employee section – fill out this section if the recipient is not an employee. WHY IS THIS INFORMATION NECESSARY? To provide identifying information for 1099 processing. Why the question? Certain IRS rules apply depending on the relationship of the recipient to an employee of the university. Accounts Payable will contact you for more information, if necessary. Employee Employee ID No.: ________________________ Department: _____________________________ Campus Ext: ____________________________

  7. GIFTS/AWARDS/INCENTIVES The Business Purpose section provides more in-depth information regarding why the gift was necessary. All questions are intended to provide enhanced support regarding the purpose of the gift and the subsequent tax treatment. WHY IS THIS INFORMATION NECESSARY? This information will serve as supporting documentation for the transaction that resulted in a taxable consequence. BUSINESS PURPOSE (all fields are required) PLEASE CHECK ONE: __ Cash Award/Prize __ Gift Certificate/Card (debit or cash equivalent type) __Merchant Gift Certificate/Card (specific to a particular vendor/merchant) __ Other Gift Description of gift: _______________________________________________________________________ _______________________________________________________________________________________ What is the expected business outcome of this gift? _____________________________ _______________ _______________________________________________________________________________________ Why was this gift given to this individual? ____________________________________________________ _______________________________________________________________________________________ How is this person affiliated with the University? _______________________________________________ _______________________________________________________________________________________ When was the gift given? _____________________________ Dollar Value: _$_____________________

  8. GIFTS/AWARDS/INCENTIVES The Please Check One section provides more detail about the gift. Certain gifts (such as cash or debit/credit gift card) are taxable regardless of amount. BUSINESS PURPOSE (all fields are required) PLEASE CHECK ONE: __ Cash Award/Prize __ Gift Certificate/Card (debit or cash equivalent type) __Merchant Gift Certificate/Card (specific to a particular vendor/merchant) __ Other Gift

  9. GIFTS/AWARDS/INCENTIVES Please provide a description of the gift provided to support the tax treatment of the gift. Example: “8”x11” engraved plaque to recognize Joe Smith as winner of 2010 Creative Writer of the year and a $200 Costco gift card.” BUSINESS PURPOSE (all fields are required) Description of gift: ___________________________________________________________ _______________________________________________________________________________

  10. GIFTS/AWARDS/INCENTIVES Fill out this information to demonstrate the expected business outcome of the gift. This provides more support for why the gift is reasonable. Example: “The Creative Writing department recognizes an outstanding creative writer each year as part of the Creative Writing Symposium” BUSINESS PURPOSE (all fields are required) What is the expected business outcome of this gift? __________________________ ________________________________________________________________________________

  11. GIFTS/AWARDS/INCENTIVES Fill out this information to let us know why this particular person received this gift rather than another. Example: “Mr. Smith demonstrated consistent creativity in a multitude of writings submitted for review. Additionally, Mr. Smith donated a significant portion of his time mentoring novice writers during workshops throughout the year, which satisfies the requirement for leadership service as part of the award.” BUSINESS PURPOSE (all fields are required) Why was this gift given to this individual? ________________________________________________________________________________________________________________________________________________________________

  12. GIFTS/AWARDS/INCENTIVES Fill out this information to let us know how this person relates to the university. Is the recipient student…a major donor…a staff member? The tax treatment depends on the individual’s affiliation with the university. Example: “Mr. Smith is a graduate student at Boise State University in the Creative Writing program. ” BUSINESS PURPOSE (all fields are required) How is this person affiliated with the university? ________________________________________________________________________________________________________________________________________________________________

  13. GIFTS/AWARDS/INCENTIVES Fill out this information to identify the date and value of the gift. This information is used by Accounts Payable to determine the tax year (which is always based on when the gift was given rather than when the gift was purchased) and amount to be included in the tax calculation. Example: 12/15/2010 $268.47 BUSINESS PURPOSE (all fields are required) When was the gift given? ____________________ Dollar Value: $___________

  14. GIFTS/AWARDS/INCENTIVES The recipient should sign the Gift/Awards/Incentives form when the gift is received. In instances where the recipient is unable to sign (or if the department determines the recipient signature is not preferred) a signature should be obtained by two separate individuals within the department. WHY IS THIS INFORMATION NECESSARY? Signatures are required for internal control purposes. Recipient or Purchaser Signature _____________________ Date ____________ My signature certifies that I have received or given the prize or award described above. (Note: If the recipient does not sign, two Boise State employees are required to acknowledge the information above is true and correct and that the gift was in fact given to the recipient.) Second Signature ___________________________________ Date ____________

  15. GIFTS/AWARDS/INCENTIVES Completed Gift/Award/Incentive forms should be scanned and forwarded accounts-payable@boisestate.edu

  16. GIFTS/AWARDS/INCENTIVES Questions? Visit the FAQs at http://vpfa.boisestate.edu/accounts-payable/

  17. GIFTS/AWARDS/INCENTIVES Questions? Email your questions to accounts-payable@boisestate.edu

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