We welcome many gifts-in-kind and are most grateful when donors think of giving tangible items to the University of Alaska Southeast. Gifts-in-kind are non-monetary items of tangible personal property such as art, collectibles, books, equipment, automobiles, inventory, and other personal assets or materials that represent value to the University of Alaska Southeast. Because gifts-in-kind may present issues of liability and extended maintenance and disposal costs, there are guidelines for the acceptance of gifts-in-kind.
Gifts-in-kind should be offered to the Dean or Director of the school or department that the gift is intended for. The Dean or Director will then send a request form to the Director of Development for review. Finally, the Vice Chancellor of Administrative Services will then determine whether or not the gift will be accepted.
When offered a gift-in-kind, the University may choose either to use or sell the gift-in-kind property or to decline the gift. When evaluating the acceptance of gift-in-kind, the University will consider if the gift is needed, wanted, and/or has use within the institution or if it can be sold to benefit the University. Consideration will be given to the following:
the cost of accepting the gift (e.g., shipping and handling costs, installation charges, licensing fees, etc.)
the long-term viability of the gift (e.g., maintenance costs, associated personnel needs, storage fees, insurance rates, copyright issues, etc.)
the resale market if the gift is to be sold
some gifts, of course, will require paperwork documenting ownership (e.g., a signed title for a car or boat).
When presenting a gift-in-kind to a Dean or Director at UAS, please have the following information available:
Item name and description
Appraisal information, if applicable (Date of Appraisal, Fair Market Value, and Method of Determination)
How will this equipment or property benefit the mission and programs of UAS?
What are the approximate maintenance or disposal costs associated with the gift?
What is the estimated life span of the equipment or property?
After a gift-in-kind donation is approved, UAS will provide the donor with an acknowledgement letter that may be used for the donor's taxes. The donor or their tax professional is responsible for determining the value of the gift; the letter from UAS will only acknowledge receipt and appreciation of the gift. IRS Form 8283 can be completed by the donor if desired.
For more information, please contact Lynne Johnson, Director of the Office of Development & Alumni Relations at 907-796-6416 or firstname.lastname@example.org.