ASSOCIATED CREDIT Definition

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ASSOCIATED CREDIT is where a charitable or a not for profit entity (a university for example) may acknowledge the efforts of persons, other than the legal donor(s), who were instrumental in facilitating or providing for a gift by providing 'soft' (or associated) credit for gifts. Associated credit allows the entity to acknowledge these efforts without compromising the entity's legal obligation to record the gift according to IRS regulations. Associated credit is given for donor recognition purposes, allowing their names to be listed in publications such as the "Report to Contributors" and other donor recognition publications. For example an individual may write a corporate gift to a university, i.e. the individual would get the associated credit. Also known as SOFT CREDIT.

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FIRM is members of a business organization that owns or operates one or more establishments, e.g. a legal or accounting firm.

BASIS, INVESTMENT, is the cost or book value of an investment. The gain or loss on an investment is the sale price less the basis. Basis is often called "cost basis."

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