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I've seen different opinions on whether a nonprofit should receipt people who give in-kind to an auction when the item's received, or if they should wait until the item is sold. Is this a matter of best practices, or is there an official recommendation from CASE or the IRS to refer to (aside from not providing a value)? We are accommodating people who want it returned if it's not sold upon request.

I'm looking for advice particularly because most of our gifts will be received this tax year, and the auction will likely take place next spring, so I assume donors will want their receipt well before the auction is held.

Thank you in advance!

I've seen different opinions on whether a nonprofit should receipt people who give in-kind to an auction when the item's received, or if they should wait until the item is sold. Is this a matter of best practices, or is there an official recommendation from CASE or the IRS to refer to (aside from not providing a value)? We are accommodating people who want it returned if it's not sold upon request.

I'm looking for advice particularly because most of our gifts will be received this tax year, and the auction will likely take place next spring, so I assume donors will want their receipt well before the auction is held.

Thank you in advance!

Thanks for confirming. Since we're going to be holding the auction in a different tax year, what gift date should we then use on the receipt? Would it be the date of the auction when the gift is "finalized?" 

I've seen different opinions on whether a nonprofit should receipt people who give in-kind to an auction when the item's received, or if they should wait until the item is sold. Is this a matter of best practices, or is there an official recommendation from CASE or the IRS to refer to (aside from not providing a value)? We are accommodating people who want it returned if it's not sold upon request.

I'm looking for advice particularly because most of our gifts will be received this tax year, and the auction will likely take place next spring, so I assume donors will want their receipt well before the auction is held.

Thank you in advance!

Thanks for confirming. Since we're going to be holding the auction in a different tax year, what gift date should we then use on the receipt? Would it be the date of the auction when the gift is "finalized?" 

I've seen different opinions on whether a nonprofit should receipt people who give in-kind to an auction when the item's received, or if they should wait until the item is sold. Is this a matter of best practices, or is there an official recommendation from CASE or the IRS to refer to (aside from not providing a value)? We are accommodating people who want it returned if it's not sold upon request.

I'm looking for advice particularly because most of our gifts will be received this tax year, and the auction will likely take place next spring, so I assume donors will want their receipt well before the auction is held.

Thank you in advance!