University Employees:
- Olin funds cannot be used to purchase gifts for employees of the University (e.g. faculty, staff, student workers, TAs, RAs, etc.). This includes cards and decorations in recognition of birthdays, holidays, etc.
- For birthdays, the best practice is to recognize them at regular staff meetings.
- Exceptions include sending reasonably priced flowers/plants or gift baskets (no gift cards) to recognize the following:
- The birth or adoption of a child by an employee
- Illness of an employee or employee’s immediate family member
- Passing of an employee or employee’s immediate family member
- Although UberEats vouchers may seem like a good alternative for sharing a meal during a virtual staff meeting, they are considered a gift card by the IRS and thus cannot be given to WashU employees.
- Non-employees:
- Gifts are allowed when there is a valid business purpose. However, we are required to report all gifts to the University Tax Department on the Gift, Prize, or Award form. Therefore, there may be tax consequences for the recipient. The department staff must submit a completed Gift, Prize, or Award Form for each recipient. In some instances, we can accept the information in a different format (e.g., a spreadsheet for multiple recipients).
- WashU issues a 1099 if the recipient receives over $600 from the University in a calendar year.
- Gift cards & gift certificates are considered cash equivalents and are always taxable to the recipient. Therefore, Olin recommends providing gifts of tangible personal property with a value lower than $75.
- Gifts are allowed when there is a valid business purpose. However, we are required to report all gifts to the University Tax Department on the Gift, Prize, or Award form. Therefore, there may be tax consequences for the recipient. The department staff must submit a completed Gift, Prize, or Award Form for each recipient. In some instances, we can accept the information in a different format (e.g., a spreadsheet for multiple recipients).
- The Olin gift policy is summarized in the table below:
| External Recipient | WU EmployeeA | |
| Gift CardB | Allowed for valid business purpose; reportableC | Not allowedD |
| Gift – Tangible | Allowed for valid business purpose; reportableC | Not allowedD |
B The IRS considers UberEats vouchers as gift cards, making them always reportable and sometimes taxable.
C In almost all circumstances, gifts are included in the recipient’s gross income. WashU will issue a 1099 if the recipient receives over $600 from the University in a calendar year.
D You are welcome to provide a gift or meal to show your appreciation to an individual employee, but it should be funded personally. It is also important to follow Olin’s TA policy. Please contact the Dean’s Office if you feel a situation should be granted an exception.
- Please contact Olin Accounting for more information or review the University policy here.