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  • 1.  In-kind gift of new equipment from manufacturer

    Posted 08-12-2025 02:51 PM
    We have a Japanese company that wants to donate a piece of medical equipment to our school for use in research. They manufacture the equipment and it will be a new piece of equipment.
    I am trying to figure out the best way to accept this gift and the requirements from the donor.
    Could you please provide some general guidance on receiving this gift? 
    1. Does the fair market value of the equipment equal the sale price or do they still need to get an appraisal for the new piece of equipment?
    2. The compay has an office in New York but the headquarters and manufacturering are in Japan. Are there special considerations for a foreign company donor?
     
    I feel a little overwhelmed and not able to find information relating to this specific situation.
     


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    Lauri Roberson
    Pacific Northwest University of Health Sciences
    lroberson@pnwu.edu
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  • 2.  RE: In-kind gift of new equipment from manufacturer

    Posted 08-12-2025 02:54 PM
    I will do some research and get back with you.

    With MUCH Trojan Pride

    Susan S. Moening

    Director of Advancement Services

    Office of Institutional Advancement

    Virginia State University

    1 Hayden Drive ◊ Storum Hall

    P.O. Box 9027

    Virginia State University, VA 23806

    Office (804) 524-5657

    Email: smoening@vsu.edu

    www.VSU.edu




    Original Message


  • 3.  RE: In-kind gift of new equipment from manufacturer

    Posted 08-12-2025 03:01 PM
    1. Please don't worry about whether a donor needs an appraisal for anything or any gift. Nor cannot you mandate that a donor provide you with a copy of an appraisal - but you certainly can ask! When it comes to new assets donated by the manufacturer, you always go with the "sticker" price - or advertised retail value. The donor, in this case, won't likely be able to claim that amount, as in the US, there are limits on gifts of inventory. But you can count the full value and leave that off the receipt.
    2. You don't need to worry about the location. You will need to determine the legal donor - Is this a US asset or a Japanese donation? If the latter, they might need a different receipt than your standard GIK receipt. But, for now, I would issue a standard receipt to whatever address is provided. If they need more, they will ask for it.
    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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