FundSvcs Community

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

Hi John,

Thanks as always for your feedback.  Tag on question.  The Business Office wants to record this gift in kind on the books with a donor provided value of $40K.  We have an itemized list from the donor with their assigned value for each item.  Would this be sufficient for my institution to enter the gift? 

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

We are also a little unclear of what constitutes a collection and who makes that determination.  All the items are medical in nature but range from very simple supplies up to complex equipment.  

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

We are also a little unclear of what constitutes a collection and who makes that determination.  All the items are medical in nature but range from very simple supplies up to complex equipment.  

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?

We are also a little unclear of what constitutes a collection and who makes that determination.  All the items are medical in nature but range from very simple supplies up to complex equipment.  

Greetings AASP,

My institution just received a large in-kind donation of medical items from a hospital going out of business.  The individual items are valued between $20 - $4K each and the total value provided exceeds $40K.  We received both one offs of certain items like specialty scanners ($4K) and groups of other like items like multiple hospital beds (valued at $1K each).  Individually all of the items are under the $5K threshold for needing an appraisal but as a group they far exceed the limit. 

Can anyone help us understand if we need to get an appraisal of some or all of this?