If your organization trades tickets for tickets/services with community partners, do you record the value of the goods received as an in-kind contribution? Or, if it's an even trade, do you even consider it a contribution? I'd like to recognize these community partners, but I'm wondering if this type of trade is something that doesn't need to be tracked as a contribution at all. Research on the subject has left me a bit confused, so any input of what other organizations do would be appreciated.
Thanks,
Keri Losche Noerrlinger
Development Operations Manager
Kansas City Repertory Theatre
Hi Keri,
We're looking at recording in-kind donations too. We're probably going to go with using an entry in the Research/Philanthropy screen - this is because we don't want to go via Contributions as our Finance team hates the use of dummy payment methods/GL Codes. At least with the Research/Philanthropy option we can assign an arbitrary value to the in-kind items. Of course, this option does require some custom reporting......
Martin
Thanks for your reply, Martin. We currently record "regular" in-kind contributions (where the donor gets nothing in return) in the contributions module and use a specific GL code to record the income. I'm wondering if we should expand that to include trades - where we trade tickets or services from our organization for the equivalent value of tickets or services from another organization. Does your org do that?
Keri
We haven't considered recording this kind of reciprocal arrangement. Although at a previous organisation I developed a custom screen to hold the details of the benefits a sponsor was entitled to.