Donate In-Kind

A gift in kind is a donation of goods or service rather than money. Some examples of a gift in kind include:

• Prize donation for events
• Gift card
• Professional Services
• Artwork

Gifts in kind help the Alzheimer Society Grey-Bruce by enhancing events, reducing necessary expenses and contributing to the Society’s assets.

Not all gifts in kind are eligible for a charitable tax receipt as directed by the Canadian Revenue Agency. When receiving a gift in kind, the Society’s policy is as follows:

Prize Donations: Tax receipts for prize donations will only be given at the specific request of the donor. Documentation indicating the fair market value of the item must be provided by the donor.

Donation of Gift cards/certificates: Tax receipts will not be given for the donation of gift cards and gift certificates if the donor is the issuer; however, the Society will provide a non-charitable receipt. If the donor has purchased the gift card a charitable tax receipt may be issued for the value of the card.

Donation of Services: Tax receipts will not be issued for donations of services; however, it is acceptable for a person who has been paid by the Society for services rendered to then make a donation for which a receipt shall be issued.

For gifts of property, the Society will follow the following procedure:

The Executive Director or Fund Development Coordinator, or designate will:

1. Review gifts-in-kind received by the Chapter to ensure they are accompanied by a credible valuation report prepared by a professional appraiser that states the fair market value, or by other acceptable documentation.

2. If the gift-in-kind is not accompanied by an independent valuation report, and where the value of the gift cannot be reasonably determined will advise the donor of the need to provide an independent valuation.

3. Forward valuation report to accounting staff to issue a tax receipt indicating the fair market value and the eligible amount of the donation.

4. Acknowledge gift accordingly (see donor recognition policy).

Definition: Appraisal of Gifts is the professional evaluation of gifts-in-kind by a qualified appraiser to establish the fair market value for the issuance of tax receipts.

All gifts-in-kind with a fair market value in excess of $1,000 must be appraised by an independent professional appraiser, in accordance with Canada Revenue Agency (CRA) regulations, or have its value documented by an appropriate public record (ie: public listing of equity or bond value, current receipt, or other document.)

Fair Market Value generally means the highest price, expressed in dollars, that a property would bring in an open and unrestricted market, between a willing buyer and a willing seller who are knowledgeable, informed, and prudent, and who are acting independently of each other.

Last Updated: 11/08/2017