As you receive gifts-in-kind, it's important to keep these new reporting requirements in mind.
The term “gifts-in-kind” is used broadly to refer to all noncash gifts, both tangible and intangible. Tangible gifts-in-kind include contributions of items such as stock, land and supplies. Intangible gifts-in-kind include contributions of items such as advertising and other professional services. While greatly appreciated by an organization, it can be challenging to account for these gifts.Read More