Can a faculty member make a donation to a recognized foundation assuming department head approval and have it returned to the department for use by that faculty member?
Yes, but the faculty member cannot claim it as a charitable deduction because they have retained right of control over how the money is spent. This is true even if the faculty member does not personally benefit from the expenditure and uses the money for paying a graduate assistant or purchased supplies.It may however qualify as a trade or business deduction and be subject to the 2% floor on miscellaneous itemized deductions.
Related Questions
- What if I (the student) encounter a representative (advisor, faculty member, dean, department head, etc.) from my chosen four-year institution who tells me that the STARS guide is wrong?
- Can a faculty member make a donation to a recognized foundation assuming department head approval and have it returned to the department for use by that faculty member?
- he TIF form require an approval signature from the Dean, Director or Department Head?
