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Acceptance of Gifts in Kind- PSU Foundation
For donated property that is to be retained for less than three years or to be sold upon acceptance, the donation should be made directly to the PSU Foundation. When the donation involves a sellable asset, the PSU Foundation determines whether a decision is needed by the Gift Acceptance Committee. Unless other arrangements have been made, tangible personal property donated to the PSU Foundation will be liquidated as soon as possible and proceeds used to benefit the University. Gift and administrative fees are imposed on gifts in-kind donated through the PSU Foundation when the property is liquidated. Once determined that the gift is to the Foundation, complete the “Gift In-Kind Contribution Form” and the Foundation will prepare/send a gift acknowledgement to the donor.
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