Donation from Honda

[Donovan]

We were discussing the donation of the vintage parts by Honda to our club on Tuesday and were wondering what the ramifications would be for the club.  They would like a tax receipt for the parts and we were unsure of what affect that would have on our non profit status.  I know some one who works for the Canadian Revenue Agency (CRA) and asked him what he thought of us receiving those  parts and submitting a receipt for them.  He said that there would be no problem with us receiving the parts and submitting a receipt for them.  But the receipt would have to be for a fair and marketable value for them.  In other words what would someone be willing to pay for them.  Sounds like it would not be for the regular retail value that was listed on the bags and maybe not even the discounted price.  Not sure on what value Honda will want to put on those parts but we have to be sure that if the CRA comes back inquiring about the value of the receipt for them that we can justify their value to them.  Hope that this clears up what the responsibility we have if we decide to accept them and issue a receipt for them to Honda.

[fast1]

   Donations are a way for dealers to give back and rid themselves of obsolete inventory. The tax deduction they get from our receipt helps them stay in business. The only way it could be a problem is if we re-sold the parts. A certain prez of a certain club had big ticket items donated and promised receipts years ago--ruined it for everyone for a while... let's not drop the ball on this. I can call Courtney for a dollar value if you like.

[fast1]

  Talked to Courtney and the retail total of these parts is VERY substantial. She is waiting to talk to a friend at revenue Canada to make sure they can write off an amount this large. If whomever would be making the receipt would call me I can give them the total.Will also divulge to other club members, just not here. Wayne 596-5414. If this deal goes through we also owe a round of pizza and donuts I think. Could also talk to my boss about storing some at the shop. Russ already has the library, numerous stray bikes and buckets, crazy carpets etc..

[fast1]

 P.S. Courtney has printed the inventory with part numbers AND what they fit!

[Admin]

If you can get me the inventory list I will put it together as a proper spreadsheet including Part #'s, models, on hand etc. and will make it available to paid members on the website.
Terry