Corresponding Policy: See ‘Gift Acceptance’ policy.
Corresponding Forms: Gift Acceptance Contribution, Gift in Kind Contribution Acknowledgement Letter Template
Process: Discovering the Purpose of Rule Codes and Knowing the Different Types
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Acceptance of Gifts in-Kind-PSU
PSU accepts gifts in-kind (non-cash gifts) that will be retained for the University’s operational use, such as equipment and furniture. These items are to be donated directly to the University if the intent is to retain the property for a period of three years or more. Once determined that this is a gift to the University, the PSU department receiving the gift is required to send a gift acknowledgement (if the gift is greater than $250) letter and attach a copy to the completed “Gift In-Kind Contribution Form.” Final approval for accepting and receipting gifts in-kind rests with the appropriate Dean or designee. The department is responsible for coordinating with University Financial Services to ensure the gift in-kind property is appropriately inventoried, if applicable. Gift and administrative fees are not imposed on gifts in-kind accepted by PSU.
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 “Gift In-Kind Contribution Form”Form” and the Foundation will prepare/send a gift acknowledgement to the donor.
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- Consult with development staff in your unit. If there is no development staff member, contact the Director of Annual Giving.
- Determine the purpose of the gift. (as per above)
- Determine the value of the gift. (see Fair Market Value below)
- Complete the Gift In-Kind Contribution Form located on the University Financial Services and Portland State University Foundation website.
- Gather the University signatures required on the form and forward completed document to University Financial Services or the PSU Foundation.
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