Non-monetary support can offset the costs of installations, design/builds, or other initiatives. When such contributions are received by students, staff, or faculty on behalf of a University project, there are required steps to document the gift for both legal and partnership purposes.
WashU Tax Policies and Procedures for Contributions, including Gifts In-Kind
AGREE TO TERMS
It’s important to know the terms of the in-kind contribution. What does the donor expect in return?
- Ask the donor what their objectives are in providing this gift. Discuss how you can meet their needs.
- Understand if there is any documentation required on the part of the donor (such as tax write-off or acknowledgement).
- Discuss if there are any limits to how the gift may be used.
- Confirm expectations in writing. Typically an email is suffiicent.
- In some situations, donors may be provide in-kind contributions in hopes of receiving media attention or publicity. Before agreeing, discuss with Sam Fox School Communications.
KNOW WHERE IT GOES
Free stuff is great, but we have to have somewhere to put it. Space is tight at the Sam Fox School, so keep these things in mind:
- Check with Leland Orvis (email@example.com) about moving and storage for materials and other physical objects.
- Review any security or safety concerns for donations, and determine the timeline for use.
- Confirm you have the wheels to transport the gift or materials. Ensure there are funds to rent a van or truck if needed.
COMPLETE REQUIRED FORMS
Like any good donation, in-kind contributions require a paper trail.
This information will be entered into the Development Services database, which can be accessed in the future.
- The donor must complete Form 8283, a documentation of noncash charitable contributions. If the donor does not want to claim a tax deduction, the recipient can complete the form and leave the value as zero. The recipient cannot establish the value of contributions!
- The WashU recipient must complete the WashU Notification of Gift In-Kind Form, which is available from Development Services. The value can be left as zero if the donor does not identify it. This form should be returned to Campus Box 1082, attention: Development Services.
- If Services are donated, contact Bobbe Winters (firstname.lastname@example.org) for more information about how to track them.
- For more information about taxes on contributions and gifts, view the University policy here: tax.wustl.edu/contributions.
SEND ACKNOWLEDGEMENT LETTER
A formal acknowledgement of the gift is required from the School. Contact Nicole Allen (email@example.com) to generate this.
- The letter should be signed by the Dean of the Sam Fox School.
- No value of the donation should be noted in the letter.
When the project is complete, thank the donor — through email, in a hand-written card, or otherwise. You may want to share some photos of the final product, and follow through on any other previously acknowledged expectations. You may also want to consider inviting the donor to join a review, visit an exhibit, or attend a final presentation