Gifts-in-kind Records are used to track the donation of non-monetary items to the church (i.e.—objects, goods, services, merchandise) which allows them to be included in a “written acknowledgment” of the gift.
According to IRS Publication 1771 the church is supposed to provide a “description (but not the value) of non-cash contributions,” so no space is provided here for the inclusion of a value/price/cost, etc. This publication is available on the web at www.irs.gov.
Note: You can choose to apply the gift-in-kind towards the fulfillment of a pledge. This is the only situation where an amount can be entered for a gift-in-kind. Per IRS regulations, the amount the church assigns the gift-in-kind is unofficial (i.e. not for contributor tax reporting purposes), and does not appear on the contribution statement.
- To access Gifts-in-kind, go to Records in the menu bar and choose Gifts-in-kind. You can also click the G icon on the toolbar.
- To add a record, click on Add.
- Choose the contributor and the date of giving.
- Fill in a description of the item.
- There is also a notes field for extra information such as value. Remember, the IRS does not require this information.
- Click OK to save the record.