Herbein-Company, Inc.: Gifts in Kind: Lydia Miller`s A, B and C Of The Correct Home (2014)Revival Fund: In-Child Gifts: How to Recognize and Recognize Them by Tony Poderis Non-ProfitsForcement: Planning, Security and Documentation of Energize DSP, Inc.: Pro-bono/in-kind/gift of services to mission-based organizations: when, why? by Jayne Cravens (2016)National Council of Nonprofits: Gift Acknowledgements: Saying `thank you` to donorsBoardSource: Beyond cash: A guide on how nonprofit boards can tap pro bono and in-kind resourcesNational Council Nonprofits: Policies Acceptance of GiftsCommunity Tool Box: Fundraising and In-KindGrant Thornton: Gifts in Kind: New Look at Conventional Revenue Sources by Jennifer Hoffman and Dennis Morrone (2014) Karen Eber Davis Consulting: Can Your Nonprofit Organization Get More Revenue? The 7 SourcesRat for the Promotion and Support of Education: Gift AgreementsCharitable Allies: Can My Donor Take a Tax Deduction for In-Kind Donations? by Zachary S. Kester (2014)IRS: Charitable Contributions (2016) “Axion likes to engage in the community, sponsor charities or special events,” Fulcher says. “Trade also allows Axion the luxury of making donations for several purposes, whereas with money in right money, it may not be possible. There is a philanthropic aspect in exchange for public recognition of community support. Axion donates Internet services such as email accounts and web hosting to charities like the Canadian Cancer Society, which, like any other business, need Internet services to manage their business in the 21st century. Alternatively, Axion gives free Internet access packages that are given as door prices or used in silent auctions at fundraising events. It is also interesting to note that, depending on the organization, your business may also be eligible for a charitable donation receipt for tax purposes for in-kind donations. To obtain in-kind donations, charities should set up a procedure for accepting, documenting and recognizing these contributions. Charities should recognize gifts in kind, as well as a description and value of the donation, by passing on recognition of the gift in kind to the donor. An exchange of services is an agreement that involves goods or services rather than money. It is also called an exchange agreement and, although there is no cash exchange, it is advisable to draft a formal contract so that there is no misunderstanding about anyone`s responsibilities. A time-in-kind donation occurs when individuals make their time available free of charge or as a third party on behalf of the non-profit organization. An employer may also borrow paid employees to support a non-profit organization.
In addition, a charity can create an in-kind donation form that donors can fill out. Donors must record a description of the donation, the date the charity received the gift and the estimated fair value of the donation. Beyond revenue and cost savings, many charities find in-kind donations an effective way to cultivate supporters and develop capacity.