Get the free In-Kind Gift Report - Pellissippi State Community College - pstcc

In-Kind Gift Report All in-kind gifts (items other than cash) must be reported to the Tennessee Board of Regents. Some types of these gifts require approval by the chancellor before they can be accepted

How to fill out in-kind gift report

How to fill out in-kind gift report:

1. Gather all necessary information: Before filling out the in-kind gift report, make sure to gather all relevant information regarding the gift. This includes details such as the donor's name, contact information, description of the gift, and its estimated value.
2. Determine the reporting requirements: In-kind gift reporting requirements may vary depending on the organization or institution you are associated with. It is important to familiarize yourself with any specific guidelines or forms that need to be used for reporting purposes.
3. Describe the gift: In the report, provide a detailed description of the in-kind gift. Include information such as the type of gift (e.g., equipment, artwork, services), its condition, and any unique characteristics or specifications.
4. Assign a value: Estimate the fair market value of the gift. Research similar items or consult experts to accurately determine the value. In some cases, donors may provide a valuation themselves.
5. Attach supporting documentation: Include any supporting documentation that validates the value or existence of the in-kind gift. This may include appraisals, receipts, or photographs.
6. Complete the necessary forms: Fill out the required forms or templates provided by your organization or institution. Ensure that all sections are accurately completed and any required signatures are obtained.
7. Submit the report: Once the in-kind gift report is complete, submit it to the appropriate department or individual responsible for tracking and recording donations. Make sure to submit it within the designated timeframe, as required by your organization.

Who needs an in-kind gift report?

An in-kind gift report is typically required by organizations or institutions that accept and track donations of non-monetary items. These may include non-profit organizations, educational institutions, government agencies, or any other entity that receives in-kind contributions. The purpose of the report is to document and acknowledge the gift, provide a record of its value, and ensure transparency in the organization's financial reporting processes.

For pdfFiller’s FAQs

What is in-kind gift report?

In-kind gift report is a report that documents non-monetary donations or gifts received by an individual or organization.

Who is required to file in-kind gift report?

Individuals or organizations who receive in-kind gifts above a certain threshold set by the tax authorities are required to file an in-kind gift report.

How to fill out in-kind gift report?

To fill out an in-kind gift report, one must provide details of the donor, description of the gift, estimated value, date of receipt, and any other relevant information requested.

What is the purpose of in-kind gift report?

The purpose of an in-kind gift report is to account for non-monetary donations received, ensure transparency, and comply with tax regulations.

What information must be reported on in-kind gift report?

Information such as donor details, description of the gift, estimated value, date of receipt, and any conditions attached to the gift must be reported on an in-kind gift report.

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