Policy 3107 – Gift-in-Kind
Effective Date: 8/26/2000
Responsible Office: Vice President for University Advancement
Gifts-in-kind to the Foundation for use of University entities include items of tangible
personal property which will be used by the university entities such as equipment,
reference materials, supplies, items of clothing, etc. In some instances such gifts
may include hotel accommodations, meals, professional services, etc.
Gifts-in-kind are accepted and acknowledged by the Foundation. Typically, gifts-in-kind
given to the Foundation are tangible personal property or real estate where the expectation
is that the item will be sold and the proceeds allocated to a particular Foundation
fund as designated by the donor.
In most instances, standard receipts are not issued; rather an official letter of
acceptance is issued by the Foundation.