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Gifts, Prizes, Awards to
Employees: In accordance with
University policy, individuals will not be reimbursed for
cash gifts (cash or personal checks) given to an employee
or student. All cash gifts, regardless of the amount, must
be issued as University Accounts Payable checks or processed through
Payroll to ensure correct documentation and tax reporting.
1.
Cash gifts (including gift certificates) are considered taxable income and are
subject to withholding tax, unless the gift is less than $25.00.
2.
Non-cash gifts or gifts of property are exempt from tax if the value is minor, i.e., the
value of the non-cash gift does not exceed $400.00.
The complete detailed policy and related information are available at the NYU
Controller's Division Web site ( www.nyu.edu/cdv). I
encourage you to familiarize yourself thoroughly with these policies. Any
additional questions should be directed to Natalija Shkreli, at natalija.shkreli@med.nyu.edu
or 212-263-3872, WS Accounts Payable Customer Service at 212-998-2990 or cdv.apcs@nyu.edu
and/or Purchasing Services at 212-998-1030 or purchasing.info@nyu.edu.
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