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What is an in-kind gift?
- A non-cash contribution of materials or property (such as equipment and furniture) that is accepted by the University for long-term operational use, or by the PSU Foundation if the item is to be retained or sold within three years.
Please consider the following before accepting a gift:
- Is it relevant to the work of the University? As a general rule, accept only gifts that further the work of departments and programs at the University.
- Will accepting the gift jeopardize the reputation of the donor or the University? Does the donor’s intent match the interests of the University?
- Will the gift cost money in the future, such as maintenance, repair, or preservation costs?
- Are there any risks associated with accepting the gift?
- Will the gift require a special facility in which to house it?
- Are there any special conditions the donor may impose?
- If the property cannot be used in University programs, will the donor allow it to be sold? If the donor places a condition on the gift that it is not to be sold, the University and the Foundation should not accept the gift.
How to determine if a gift should go through the PSU Foundation or through University Financial Services:
Will the gift-in-kind be retained by Portland State University for operational use beyond 3 years? Examples: Equipment, Artwork, Furniture, Books, etc.
- IF YES, the gift should be processed as a gift to the University. (Skip to section A)
- IF NO, the gift should be processed through the PSU Foundation. (Skip to section B)
Section A
To process a gift through the University, you will need to follow these steps:
- Download the Gift-In-Kind Contribution form found here: https://intranet.psuf.org/sites/default/files/fileattachments/resources_-_forms/page/798/bao-psuf_in-kind_contribution_report-revised_032217.pdf
- Determine if the donor values the item at below or above $5,000.
- For items that are valued below $5,000, no appraisal is necessary
- For items valued at $5,000 and higher, an appraisal or other comparable form of independent determination of fair market value must be completed.
- Write an acknowledgement letter and send to the donor
- Send a copy of the acknowledgement letter, along with the completed Gift-In-Kind Contribution form to University Financial Services (Mail code: UFS).
- The department is responsible for coordinating with University Financial Services to ensure the gift-in-kind property is appropriately inventoried, if applicable.
Section B
To process a gift through the PSU Foundation, you will need to follow these steps:
- If the gift is expected to be used or sold within three years, with the proceeds benefiting the intent of the donor, it is a gift to the PSU Foundation.
- Download the Gift-In Kind Contribution form found here: https://intranet.psuf.org/sites/default/files/fileattachments/resources_-_forms/page/798/bao-psuf_in-kind_contribution_report-revised_032217.pdf
- Attach documentation that shows the fair market value of the item. This can be provided from the donor or by looking up online to see what it would cost the University to purchase the same item in similar condition.
- If the item's expected value is more than $5,000, an independent appraisal from the donor is required.
- Send the completed form to the PSU Foundation (Mail code: FOUND)
- The PSU Foundation will prepare and send an acknowledgement letter to the donor.
Special Circumstances:
Occasionally, a gift does not fit into a pre-determined category or has particularly tricky rules regarding the donation process. Examples of these in-kind gifts are:
- Property (Land or Houses)
- Software
- Intellectual Property
What items are not deductible as charitable contributions?
- Contributions of services
- Contributions of partial interest (use of vacation home, etc.)
Who should I contact if I have questions?
Stephanie Gustafson
Development Coordinator, CLAS
s.gustafson@pdx.edu
503-725-2309
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