FundSvcs Community

Hi! Sorry I think I may have posted previously to the wrong area so my apologies if this is a duplicate. I was hoping for some help and guidance. For gifts in kind (under $5k) is there a standard finance policy on where to record? I have worked at organizations where they record in the area it is supporting in a temp restricted fund, but at the current organization I am at all GIK is recorded in unrestricted per finance. I can't find anywhere in CASE Standards or GAAP principals if gift in kind has to be recorded as unrestricted. It is inflating our unrestricted budget and causing some concerns.   

So just curious what other non-profits do with gift-in kinds (let's say - toys for kids at a children's hospital) would you record as: unrestricted or as temp restricted contributions? Any guidance is much appreciated. 

Hi! Sorry I think I may have posted previously to the wrong area so my apologies if this is a duplicate. I was hoping for some help and guidance. For gifts in kind (under $5k) is there a standard finance policy on where to record? I have worked at organizations where they record in the area it is supporting in a temp restricted fund, but at the current organization I am at all GIK is recorded in unrestricted per finance. I can't find anywhere in CASE Standards or GAAP principals if gift in kind has to be recorded as unrestricted. It is inflating our unrestricted budget and causing some concerns.   

So just curious what other non-profits do with gift-in kinds (let's say - toys for kids at a children's hospital) would you record as: unrestricted or as temp restricted contributions? Any guidance is much appreciated. 

Hi! Sorry I think I may have posted previously to the wrong area so my apologies if this is a duplicate. I was hoping for some help and guidance. For gifts in kind (under $5k) is there a standard finance policy on where to record? I have worked at organizations where they record in the area it is supporting in a temp restricted fund, but at the current organization I am at all GIK is recorded in unrestricted per finance. I can't find anywhere in CASE Standards or GAAP principals if gift in kind has to be recorded as unrestricted. It is inflating our unrestricted budget and causing some concerns.   

So just curious what other non-profits do with gift-in kinds (let's say - toys for kids at a children's hospital) would you record as: unrestricted or as temp restricted contributions? Any guidance is much appreciated. 

Hi! Sorry I think I may have posted previously to the wrong area so my apologies if this is a duplicate. I was hoping for some help and guidance. For gifts in kind (under $5k) is there a standard finance policy on where to record? I have worked at organizations where they record in the area it is supporting in a temp restricted fund, but at the current organization I am at all GIK is recorded in unrestricted per finance. I can't find anywhere in CASE Standards or GAAP principals if gift in kind has to be recorded as unrestricted. It is inflating our unrestricted budget and causing some concerns.   

So just curious what other non-profits do with gift-in kinds (let's say - toys for kids at a children's hospital) would you record as: unrestricted or as temp restricted contributions? Any guidance is much appreciated. 

Thank you so much for your response. You are correct I am using old nomenclature by saying "temp restricted" I do need to just say- restricted. I likely need to reword my question.....hopefully this provides clarity.....do gift in kind gifts have to be recorded as Unrestricted cash revenue with the offsetting expense or do you follow the same principles as a cash gift and if the gifted item is restricted to a certain department it goes to restricted and if it's to support any area of the hospital it is consider unrestricted.

Hi! Sorry I think I may have posted previously to the wrong area so my apologies if this is a duplicate. I was hoping for some help and guidance. For gifts in kind (under $5k) is there a standard finance policy on where to record? I have worked at organizations where they record in the area it is supporting in a temp restricted fund, but at the current organization I am at all GIK is recorded in unrestricted per finance. I can't find anywhere in CASE Standards or GAAP principals if gift in kind has to be recorded as unrestricted. It is inflating our unrestricted budget and causing some concerns.   

So just curious what other non-profits do with gift-in kinds (let's say - toys for kids at a children's hospital) would you record as: unrestricted or as temp restricted contributions? Any guidance is much appreciated.