• Fees associated with this type of fundraising or deducted by the vendor before the contributions are sent to the committee are reported as expenditures. The fees are not deducted from the amount of each contribution reported. • Contributions made by text message are received on the date the mobile device company receives the funds from the contributor, not the date the text was sent. Ex 4.12 - Your committee holds a golf fundraiser and charges $200 per person. After the event, you determine that it cost your committee $50 per person to pay the caterer, hall rental, entertainment, invitations, etc. The invitations state that half of the ticket cost will be donated to a charity and half will be contributed to your committee. Report on Schedule A of the Form 460 a $100 contribution from each of the ticket purchasers, as well as the contributor’s name, address, occupation, and employer. Do not subtract the per person costs from each ticket sold. The expenses will be reported on Schedule E of the Form 460.
Cryptocurrency
The amount of a cryptocurrency contribution is the fair market value of the cryptocurrency at the time the payment processor obtains possession of the contribution. A cryptocurrency contribution is received on the date the payment processor, an agent of the committee, obtains possession of the cryptocurrency that constitutes the contribution. Some tips on reporting cryptocurrency contributions include: • The entire amount of the cryptocurrency contribution is reported as a nonmonetary contribution. The processing fee charged by the payment processor is not deducted from the amount reported. • The processing fee is reportable as an expenditure of the committee at the time the fee is deducted or charged.
• The entire amount of the cryptocurrency contribution is reportable as a “Miscellaneous Increase to Cash.”
Fair Political Practices Commission advice@fppc.ca.gov
Chapter 4.12
Campaign Manual 2 August 2023 Page 200
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