Get the free Gift-in-Kind Acceptance Form - okanagan bc

This document is used to accept non-monetary donations to Okanagan College, specifying donor information, terms of acceptance, and details about the donated items.

How to fill out gift-in-kind acceptance form

How to fill out Gift-in-Kind Acceptance Form

1. Obtain the Gift-in-Kind Acceptance Form from your organization.
2. Fill in the 'Donor Information' section with the donor's name, contact details, and address.
3. Describe the donated item(s) in detail, including quantity, condition, and estimated value.
4. Indicate the intended use of the donated item(s).
5. Sign and date the form to confirm acceptance of the gift.
6. Submit the completed form to the appropriate department or individual in your organization.

Who needs Gift-in-Kind Acceptance Form?

1. Organizations accepting non-cash donations such as goods, services, or property.
2. Non-profits and charities that require documentation for tax purposes.
3. Donors who wish to ensure proper acknowledgment of their gifts.

People Also Ask about

How do I write a receipt for an in-kind donation?

In-Kind Donations of $5,000 and above: In addition to the steps outlined above, the donor should have the IRS Form 8283 signed by an authorized appraiser and provide a copy of appraisal and signed IRS Form 8283 to the Foundation as required by the IRS and the LCC Foundation.

What is an example of a gift-in-kind?

In-kind donation receipts should include the donor's name, the description of the gift, and the date the gift was received. Cash donation receipt. A cash donation receipt provides written documentation of a cash gift.

What is the difference between a donation and an in-kind donation?

In-kind giving refers to donating goods or services instead of monetary funds. This type of giving can include tangible items, such as food, clothing, furniture, or toys, and professional services like volunteering your time or expertise.

How do I acknowledge an in-kind donation?

Examples of common gift-in-kind donations include a company donating office supplies, a restaurant providing catered meals for an event, or an individual donating their time and expertise through volunteer work.

What is an example of an in-kind gift?

An in-kind donation is the transfer of any other type of asset. In-kind gifts are contributions of goods or services, other than cash grants. Examples of in-kind gifts include: Goods, like computers, software, furniture, and office equipment, for use by your organization or for special event auctions.

What is an example of in-kind support?

unpaid interns or fellows; • donated supplies and loaned equipment; • donated food from food banks, etc.; • donated utilities; • donated or discounted space; transportation services to and from nutrition sites, medical appointments, shopping trips, etc.

What are the rules for gifts-in-kind?

Standards for gifts in kind The principles include: Need driven: Driven by a genuine and thorough understanding of the needs of the recipients. Quality controlled: Goods are carefully chosen, of appropriate quality, and in consultation with the recipient. Determined by informed choices.

For pdfFiller’s FAQs

What is Gift-in-Kind Acceptance Form?

The Gift-in-Kind Acceptance Form is a document used by organizations to accept and record non-cash donations or gifts of tangible personal property.

Who is required to file Gift-in-Kind Acceptance Form?

Organizations or entities that receive non-cash contributions, such as goods or services, are required to file the Gift-in-Kind Acceptance Form.

How to fill out Gift-in-Kind Acceptance Form?

To fill out the Gift-in-Kind Acceptance Form, one must provide details about the donor, the description of the gift, its estimated value, and any specific terms or conditions associated with the gift.

What is the purpose of Gift-in-Kind Acceptance Form?

The purpose of the Gift-in-Kind Acceptance Form is to provide a formal record of the acceptance of non-cash donations and ensure proper documentation for accounting and tax purposes.

What information must be reported on Gift-in-Kind Acceptance Form?

The information that must be reported includes the donor's name and contact information, a description of the item(s) donated, their estimated fair market value, the date of contribution, and any relevant terms or conditions.