GC Events - Changing a Ticket Price

You are able to adjust the price of a ticket if no one has bought the ticket yet. You will not be able to change a ticket price once a registrant has purchased a ticket at that price. If you need to adjust the price, we recommend the following approach:

1. Hide the ticket type with the incorrect price. This will prevent anyone else from purchasing tickets at that price. Edit the ticket type by clicking the 'Hidden Ticket Type' checkbox within the individual ticket's settings. Note that this ticket type will still be visible on the admin side.

   

2. Create a new ticket type with the correct price.
3. Make any refunds or partial refunds needed to adjust for the incorrect price for folks who already registered.

Note: GiveCampus prevents changing ticket prices once any tickets have been issued to maintain accurate financial records and prevent confusion for existing registrants.

Fair Market Value (FMV) — editing limits and tax-deductibility impact

Once tickets are sold, their FMV is locked along with the ticket price. Key points:

• FMV determines the tax-deductible amount (ticket price minus FMV).
• Setting FMV to $0 makes the full ticket price tax deductible.
• An incorrect FMV impacts the tax-deductible calculations on receipts and confirmation emails.
• Registrations with an incorrect FMV cannot be retroactively corrected.
• The remedy is to create a new ticket type with the correct FMV and disable the incorrect one.

What this means in practice

After any ticket is sold, the system locks both the ticket price and FMV. If FMV is entered incorrectly, receipts and confirmation emails will show an inaccurate tax-deductible amount. For example, if a ticket is priced at $30 but FMV is set to $0, the receipt will indicate that the full $30 is tax deductible.

Recommended steps if FMV was set incorrectly

1. Hide or disable the incorrect ticket type using the "Hidden Ticket Type" checkbox.
2. Create a new ticket type with the correct Price and FMV for future sales.
3. Issue full or partial refunds as needed.
4. Update donor records through your established accounting or communication processes.

Common questions

Can the FMV on sold tickets be edited after the fact? No, FMV cannot be changed once tickets have been sold.

Will changing the FMV update prior receipts? No, receipts reflect the tax-deductible calculation at the time of purchase.

Why might a receipt show an unexpected tax-deductible amount? If FMV is set to $0, the full ticket price appears as tax deductible.

Communicating with registrants

Since receipts and confirmation emails are generated using checkout values, consider sending a follow-up message to explain the correction. This communication can outline any refunds issued or adjustments made in donor records.