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ÂÒÂ×ÉçÇø encourages and appreciates gifts-in-kind, such as computer hardware and software, industry equipment, expendable supplies for laboratories, library archive collections, musical instruments, works of art, and other materials that the College would otherwise need to purchase. Through gifts-in-kind, supporters help the College strengthen programs and improve facilities to provide the best possible educational experience to our students. Unlike contributions of cash or securities, in-kind gifts allow donors to receive the benefit of a charitable contribution without drawing on their cash reserves.

All gifts-in-kind are reviewed, accepted, and officially acknowledged. Prior to acceptance, the gift is reviewed to see if it meets campus needs. There may be times that ÂÒÂ×ÉçÇø must decline a gift that does not further the College’s goals or involves special maintenance or other conditions ÂÒÂ×ÉçÇø would be unable to satisfy.

In accordance with Internal Revenue Service regulations, the donor is responsible for determining the value of an accepted gift. Before presenting a gift of tangible property to ÂÒÂ×ÉçÇø, donors should first establish the fair market value of the gift with a recognized independent appraiser. A qualified appraisal dated no more than 60 days prior to the date of contribution is required by the IRS to substantiate a donor’s charitable deduction for gifts-in-kind. C-SC personnel are not qualified appraisers, and federal regulations do not permit the College to give appraisals or estimates of value.

The fair market value of a gift-in-kind is deductible.

• A donation within a tax year valued at $250 or more requires a written acknowledgment from the recipient. Accordingly, ÂÒÂ×ÉçÇø will mail you the required receipt.
• If the value of a gift is $500 or more, the Internal Revenue Service requires donors to file IRS Form 8283 and comply with its regulations pertaining to non-cash charitable contributions.
• If the donation is valued at more than $5,000, the donor must obtain a qualified appraisal and submit an appraisal summary with the return claiming the deduction. A copy of the appraisal must also be provided to ÂÒÂ×ÉçÇø.

This information is not intended to serve as a complete account of the requirements or limitations covering tax-deductible gifts. ÂÒÂ×ÉçÇø recommends that donors consult their tax advisors when considering gifts-in-kind.