lonemountain     
Overview of the campus
People walking on Lone Mountain
flowers_150   
Negoesco soccer field at the University of San Francisco     
churchdomes_150  
Golden Gate Bridge at noon  

Non-Cash Gifts, Awards and Incentives Policy - Appendix A


Per-Person Limits

Recipient

Gift or Award Type

Per-Person Limit

Tax if Limit Exceeded (See Notes)

Employees Recognition Less than $100 1
Employees Length of service (tangible personal property only) $400 2
Employees Retirement (tangible personal property only) $400 2
Employees      Raffle prizes and incentives Less than $100 1
Non-Employees Appreciation, goodwill, recognition, etc  $250 3
Students Academic achievement, raffle prizes, incentive, etc. Less than $600 3
All recipients Sympathy—tangible personal property Less than $100 1 or 3
All recipients Sympathy—contribution to a tax-exempt organization $250 4

The gift and award limits do not include incidental costs such as the cost of engraving, packaging, insurance, sales tax, mailing, and the cost of gift wrapping that does not add substantial value to the gift.

Notes:

  1. If the cost of the gift or award exceeds $100, the entire amount would be reportable on the employee’s IRS Form W-2 as additional wages subject to withholding. 
  2. If the cost of a length of service or retirement award exceeds $400, only the amount in excess of $400 is taxable to the employee as wages.
  3. If the total cost of all gifts and awards provided to an individual in one calendar year is $600 or more, the entire amount would be reportable to the IRS on Form 1099. In such cases, the department must obtain the name and campus-wide identification number of the recipient or social security number (on a Form W-9) if the recipient is not a University employee or student.
  4. Since a contribution made to a charity must be made in the name of the University, there are no tax consequences if the limit is exceeded.