“Other Income” does not represent a charitable contribution, and is not deductible by the payer for tax purposes because it represents payment for a service or product received – that is, the payer receives some direct benefit.
Some examples of foundation activities that produce other income receipts are:
- Pre-football game meals for alumni who pay to participate (i.e. tailgate events)
- Alumni picnics
- Sales of merchandise such as t-shirts, cookbooks, etc.
Other Income receipts of cash and checks for a foundation should be forwarded directly to the Foundations Accounting & Investments (FAI) office for deposit. These should not be deposited to the University Cashier’s Office.
Select this link to access the Other Income/Refunds of Expenditure page, which contains the link to the FAI Transmittal for Other Income/Refund of Expenditures Form. This form should be submitted with any Other Income deposits.