Get the free Sample “Gift-in-Kind” Report Form - gato-docs its txstate

This document is a reporting form used to document and approve the acceptance of gift-in-kind donations, detailing donor information, gift description, and approval signatures.

How to fill out sample gift-in-kind report form

How to fill out Sample “Gift-in-Kind” Report Form

1. Begin by entering the date of the report in the specified field.
2. Fill in the name of the organization receiving the gift-in-kind.
3. Provide the contact information for the donor, including name, address, and phone number.
4. List the items being donated, including a brief description and quantity for each item.
5. Specify the estimated value of each item donated, using a fair market value.
6. Indicate the purpose of the gift-in-kind and how it will benefit the organization.
7. Sign and date the report to verify the information provided.
8. Keep a copy of the completed report for both the donor and the organization's records.

Who needs Sample “Gift-in-Kind” Report Form?

1. Organizations that receive non-cash donations or gifts-in-kind.
2. Donors who wish to document their contributions for tax deduction purposes.
3. Nonprofit management staff for record-keeping and reporting.
4. Accountants and financial teams managing nonprofit donations.

People Also Ask about

What is an example of an in-kind gift?

A gift in kind is a donation of something other than cash. It could be physical items like books, laptops, or food, or even professional services like graphic design or plumbing. This kind of donation is often just as valuable to a charity as a cash donation.

What is the in-kind donation tracking form?

An In-Kind Donation Form is essential for nonprofit organizations to track and manage non-cash contributions effectively. This template ensures that all donated goods and services are recorded accurately, helping streamline the donation process and maintain transparency with donors.

What is an example of an in-kind donation letter?

Dear __ (the event organizer or person the letters should be returned to): This letter is to confirm that I am donating __ (an item or other physical contribution), worth $ for the (name of the program).

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

Examples of in-kind gifts include goods like food, clothing, medicines, furniture, office equipment, and building materials.

What are non-monetary gifts?

Some examples are: securities, such as stocks and mutual funds, cars, boats, antiques, jewelry, works of art, and real estate. Closely held stock, in certain circumstances, can also be a strategic non-cash charitable gift. Generally, non-cash donations are items of value that can be converted to cash.

What is the difference between gift in money and gift-in-kind?

A gift in money gives the charity the flexibility to spend on what they need most, while a gift-in-kind can directly provide the items or skills they might otherwise have to buy.

What are the types of in-kind gifts?

A gift-in-kind is a voluntary transfer of property other than cash without consideration. It includes numerous types of property, in particular, inventory, capital property, and depreciable property. Donations of real estate, stocks and bonds or personal items are all considered gifts-in-kind.

What is the value of an in-kind gift?

Determine the item's fair market value (FMV). Fair market value (FMV) refers to the price you would typically pay for a good or service on the open market. You should record gifts-in-kind at their fair market value when you receive them.

For pdfFiller’s FAQs

What is Sample 'Gift-in-Kind' Report Form?

The Sample 'Gift-in-Kind' Report Form is a document used by organizations to report non-cash donations or contributions received, detailing the value and nature of the items donated.

Who is required to file Sample 'Gift-in-Kind' Report Form?

Organizations that receive non-cash donations, such as charities, nonprofits, and educational institutions, are required to file the Sample 'Gift-in-Kind' Report Form.

How to fill out Sample 'Gift-in-Kind' Report Form?

To fill out the Sample 'Gift-in-Kind' Report Form, provide details such as the donor's information, description of the donated items, their estimated value, and the date of donation, ensuring all information is accurate and complete.

What is the purpose of Sample 'Gift-in-Kind' Report Form?

The purpose of the Sample 'Gift-in-Kind' Report Form is to provide a transparent record of non-cash donations for accounting, tax reporting, and to ensure proper acknowledgment of the contributions for both the donor and the receiving organization.

What information must be reported on Sample 'Gift-in-Kind' Report Form?

The information that must be reported includes the donor's name and contact information, a description of the items donated, the fair market value of the items, the date of the donation, and any special conditions associated with the gift.