Dear Abby: How should I handle returning an unwanted expensive gift?

Dear Abby: A generous friend sent me an expensive gift, but it is something I already have. She can’t easily afford these gifts. I returned it to the merchant but, unfortunately, the refund will come to me instead of her. I would like to give my friend back the money.

She doesn’t need to give us anything in order to be our friend, but I worry that I’ll offend her. I have asked her many times to quit giving gifts, but she continues, and they aren’t gifts we can use. Her company is the only gift we need. Please advise.