The IRS says money I give for no consideration is a gift. The OP wants you to work on your project -- it's not clear what happens if you don't do that. If the

The IRS says money I give for no consideration is a gift. The OP wants you to work on your project -- it's not clear what happens if you don't do that. If the OP does not get the money back or any other consideration, I believe that an accountant and lawyer could structure this as a gift. The OP will have to file and it counts against their lifetime exemption, but there is no tax (I believe -- talk to an accountant)