In Kind Gifts

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.

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.

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-Franklin
Patron Advancement Manager

Pacific Symphony
Orange 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.