Gross philanthropic income (GPI) is comprised of total private dollars given to a charitable organization as listed in Section 501 of the Internal Revenue Code and not classified as a private foundation under Section 509. GPI dollars qualify for charitable contribution deduction by donors as stated in Section 170.
The charitable dollars received and reported includes contributions from individuals, corporations, foundations, grants, thrift or resale shops and gifts in kind. For organizations that use the netting method of financial reporting of donor development contributions, the gross amount of those contributions should be included. The net income from Special Events (dinners, dances, theater parties, pilgrimages, auctions, golf tournaments, flea markets, fairs, etc.) that is reported on the accounting records of the fund-raising organization is also considered part of income. In addition, any income from legacies and bequests, which can be attributed to the development office should be included.
Any income not received from the above categories is excluded. Examples are interest, realized or unrealized gains on securities or other investments, name rental income, Mass stipends, capital campaign revenues, annuities not transferred to the operating fund, Tri-Conference Retirement Fund income or other related business income.