I frequently am the one who organizes group gifts. I learned the hard way to establish very clear rules and only spend what you receive. Here’s how I handle it:
A) Gifts are 100% voluntary.
B) I will either offer a card to sign or I will sign the card on the contributor’s behalf if he/she is not in house.
C) I keep a tab on how much everyone gave in case there are questions. ("Did I give for that? I can’t remember.) However, I don’t divulge to the recipient how much each person gave.
D) Along the same lines, I won’t ever tell how much to give because everybody’s circumstances are unique. $5 to one person may be more dear than $20 to another. If pressed, I usually say, “Most people are giving between $5 and $10.”
E) I always have plenty of change on hand for people who hand me large bills.
F) If someone does hand me a $10 or $20 bill, I immediately say, “Let me get you some change.” and assume they’re giving $5. I’ve found it’s awkward to ask “Would you like change?” and it embarrasses them into giving more than perhaps they intended.
G) I set clear deadlines for contributions. “If you’d like to contribute, it must be received by me no later than xpm on x date. Check or cash. Below are both my internal address and my snail mail address.”
H) I do not accept pledges from people on vacation or out of office. Instead, I direct them to my snail mail address if they’d like to mail something by the deadline.
I) If the gift comes after that deadline, I return it to the sender with a note that it was received after the deadline, and that I’m sorry that I cannot accept it.
J) I include the cost of the card and the wrapping/gift bag in my total cost. I used to not absorb these two items myself, until I realized I was spending a small fortune on it.
K) I send out exactly 3 emails:
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One lets people know that I’m collecting money, and it’s sent out about 2 weeks prior, if possible. I usually ask for gift suggestions at this time, if anyone has knowledge of something the recipient would like.
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The second email is a “gentle reminder for anyone who wishes to contribute” that the deadline is approaching. I usually give an update on how much I’ve received to date.
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The last one is sent to the contributors only which thanks them for their participation and divulges what I purchased on everyone’s behalf.
Re the OP:
Personally, I chose “Something else” because I’m not sure if he ever sent out a e reminder. This is the perfect opportunity to communicate that he’s received $40 (in hopes that more people will pony up). He could also post a link to the item he bought so that savvy people will see that he was shorted.