This service provides a request for the creation and acknowledgment of a Gift-In-Kind transaction.
Gifts-in-kind, also referred to as in-kind donations, is a kind of charitable giving in which, instead of giving money to buy needed goods and services, the goods and services themselves are given. Gifts in kind are distinguished from gifts of cash or stock.
A donor may deduct an in-kind (or, non-cash) donation as a charitable contribution. It is the responsibility of the donor to furnish documentation on the value of the in-kind donation to the IRS. The donor must also obtain a written acknowledgment from the charity to substantiate the gift. Barry supplies acknowledgments detailing the donation but places no value on it.
Refer to the Gifts Acceptance Policy (6.01) for more information.
What is included
Advancement Services will provide the following:
- Set-up the donation and donor in the Alumni/Donor CRM database for financial reports and tracking
- Provide the donor with a written acknowledgment of the in-kind donation.
It is the responsibility of the requester to:
- Provide all information regarding the donation to Advancement Services.
Who receives this service
Faculty and Staff of Barry University.
Service Level Agreement
First response in 1 business day. Lead time for completion of this task is approximately 1 week after the receipt of all necessary information.
What happens next
You will be contacted by Advancement Services to discuss any concerns with the submitted job.