GC Events - Changing a Ticket 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.

You can adjust a ticket’s price only if no tickets of that type have been issued. Once any ticket is moved out of an incomplete state – including reserved but not fully paid – the ticket price and Fair Market Value become locked and cannot be changed.

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.

Note: If the event has only one visible ticket type or package, you cannot hide it. In that case, create a new ticket type with the correct price before hiding the old one.