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How to give an in-kind donation

Gifts-in-Kind Policy

It is the policy of Yellowstone Academy to accept donations of goods and services that help fulfill the organization’s goal to provide a high quality education in a supportive Christian atmosphere.

Purpose

The purpose of this policy is to establish procedures for the acceptance, recording and acknowledgement of the donation of goods and services to Yellowstone Academy.

Definition

A Gift In-Kind is a voluntary contribution of goods and services that can be used to advance the mission of Yellowstone Academy. Note: Individual donors should consult their personal legal and financial advisors to determine if the in-kind gift is tax-deductible.

Restrictions on Gifts

Yellowstone Academy will accept unrestricted gifts, and gifts for specific programs and purposes, provided that such gifts are consistent with its stated mission, purposes, and priorities. Yellowstone Academy reserves the right to determine whether or not it will accept a gift and may consider, among other criteria, whether the terms, conditions or purpose of a gift are consistent with state or federal law. All final decisions on the acceptance of the gift shall be made by the Yellowstone Academy .Yellowstone Academy also reserves the right to redirect the gift to another non-profit organization if deemed more appropriate.

Acceptance Policy and Procedures

In-Kind Donations of new items that are accompanied by receipts will be recorded in Raiser's Edger under the in-kind donation category.  

In Kind Donations of used items or items for which no receipts are provided will be recorded in Raiser's Edge, only if the market value of items exceeds $1,000. If the value of a single item donated exceeds $1,000.00 or the cumulative value of similar donated items donated at the same time exceeds $1,000.00, an estimate of value will be obtained from the donor and verified from an independent source (newspaper ads, Internet, etc.). This value will also be recorded in Raiser's Edge as an in-kind donation, with market value amount included.

If in-kind donations have market value less than $1,000 and are not accompanied by a receipt to document cost, Yellowstone Academy will give the donor a receipt on which they may estimate the value of goods donated. The gift will be entered into Raiser’s Edge as an in-kind gift with no value assigned.

Yellowstone Academy will not issue an acknowledgement for gifts that cannot be used. Examples might include outdated computer equipment or unusable office supplies. If the Gift-In-Kind is a vehicle, before the Yellowstone Academy can accept the gift, the organization must first deem the vehicle acceptable for use. In addition, individuals donating vehicles must furnish an IRS Form W-9 and a copy of the vehicle title to Yellowstone Academy.

In-kind gifts of professional services are gratefully received. Those services must represent the donor’s personal or organizational expertise and be outside the general volunteer duties and responsibilities assumed by members of Yellowstone Academy. Legal, auditing, computer-related or trade related services will be accepted at no more than the fair market value for each billable hour. An itemized invoice would serve as appropriate documentation in this instance.

The Gift-In-Kind form must be turned in no later than one month following the Yellowstone Academy or December 31^st, whichever comes first. In addition:

a) The individual accepting the gift cannot offer tax advice or dictate the value of the contribution.
b) The value is for Yellowstone Academy internal gift reporting only. The donor’s receipt and/or acknowledgement will not indicate value in any way that could be construed as an endorsement of its value.
c) Unless items are new and recently purchased, the full purchase price is not considered the fair market value and receipts for the purchase of the gift will not be accepted as proof of the fair market value.