Good morning,
Can anyone share how their organization reports In Kind gifts in the constituent’s record?
Any help is appreciated.
Melanye
MELANYE TAYLOR
Dbase Coordinator
Development
THE MUSIC CENTER
135 N. Grand Avenue
Los Angeles, CA 90012
P: (213) 972-3123
F: (213) 972-4301
musiccenter.org < NEW WEBSITE!
For us, we're trying to only utilize the custom tab for acknowledgement letter rules, while leaving the notes tab strictly for internal notes on the gift. That said we have a space for "In-Kind Description" in this custom tab. We change the contribution date to the date our company received it. Since you're only allowed to send tax info on the description of the in-kind gift we rely on this custom tab for their letter instead of the cont amt or recd amount.
The letter would then look something like this
"Thank you for your gift of 500 antique chairs on cont_dt"
The donor will then determine the value of their gift themselves. They have to do this because the value of the donation can change at the time they submit to the IRS for tax write-off. It's their responsibility of redetermining the value at that time.
Thank you, Sarah. This is extremely helpful!
-Melanye
From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Sarah ParkerSent: Friday, July 13, 2012 1:02 PMTo: Taylor, MelanyeSubject: Re: [Tessitura Development Forum] In Kind Gifts
From: Melanye Taylor <bounce-melanyetaylor9351@tessituranetwork.com>Sent: 7/13/2012 11:16:25 AM
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Hi Sera,
I know this is an old thread, but I'm wondering how you enter the contribution amount for in-kind gifts. Do you leave it at $0, then relying on the custom description to identify what the gift was?
Thank you,Megan Megan Malone-FranklinPatron Advancement ManagerPacific SymphonyOrange County, CA
We record in-kind donations in the same way that we record cash donations -- except we have a payment type that is "In Kind Donation." This means we HAVE TO assign it a value and, in lieu of guessing, we ask the donor the value that s/he assigns to the item. We do not include that in the acknowledgement letter, but just use it for internal purposes.