What it is:
Also known as a gift-in-kind, a non-cash gift is property other than cash that a donor transfers to a charity. Gifts of services may not be acknowledged with official receipts for income tax purposes.
Examples of non-cash gifts:
- real estate
- household items
- office supplies
- tools/building supplies
- cultural property (paintings, sculptures, manuscripts)
- Non-cash gifts are often eligible for a tax receipt (you must consult with the receiving charity for details on their acceptance policy).
How it Works:
- Contact the charity to determine their need or desire to accept your gift.
- Provide the charity with documentation on your cost and date of original purchase.
- Allow the charity to arrange an independent appraisal to establish the FMV (fair market value) for receipting purposes.
Please consult with the receiving charity to find out more about their gift acceptance policy. Not all charities are willing to receive all types of non-cash gifts and not all gifts are eligible for a tax receipt.