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  • 1.  InKind Receipts

    Posted 02-24-2025 02:41 PM

    Hello,

    We currently follow IRS Proc 1771 for InKind contributions which provides a description (but not the fair market value) of any contribution of property. However, we have a major donor who is adamant that the value of their InKind contribution be included in the year-end tax receipts, stating that they've received the value of their InKind gifts from other nonprofit organizations.

    I will be enforcing adherence to IRS Proc 1771, but want to see how other folks are handling situations such as this.

    Thank you,
    Aimee



    ------------------------------
    Aimee Holland
    Alameda Health System Foundation
    aholland@alamedahealthsystem.org
    ------------------------------


  • 2.  RE: InKind Receipts

    Posted 02-24-2025 02:48 PM
    Just because other organizations do something does not make it right. You are correct in following the guidance of 1771 and Counsel.

    However, in the interest of donor relations - especially for a major donor - you could offer modified language I've suggested previously:

    "Thank you for your gift of [full legal description of the property gift], which we have valued for our internal purposes only at $NNN,NNN. Please seek guidance from your tax advisor for assistance in determining the deductible value of this property gift."

    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


  • 3.  RE: InKind Receipts

    Posted 02-24-2025 02:53 PM

    Thank you for your assistance, John! I greatly appreciate it!



    ------------------------------
    Aimee Holland
    Alameda Health System Foundation
    aholland@alamedahealthsystem.org
    ------------------------------

    Original Message


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