Minutes

As part of our effort to develop a library-wide policy and procedure for gifts, Sharon Jackson of Gift Processing in the University Development office discussed procedures for in-kind gifts.

Sharon distributed the university’s Gifts-in-Kind form, which we should complete for each gift collection. Gift Processing prefers a list of books in each collection, but if we do not have a list, they will credit the gift at the value of $1 per book. If the collection is appraised, a copy of the appraisal should accompany the form. In this case GP will value the gift in the amount of the appraisal. Celia Walker asked that collections staff inform her of gifts so that she can credit donors with membership in the Heard Society or Friends of the Library, depending on the value of their gift.

Sharon also distributed IRS Form 8283, “Noncash Charitable Contributions.” GP will complete this form and send it to the donor for gifts valued at $500 or more.

GP can accept gifts through July 3 for credit in June (if a donor is concerned about fiscal year credits) or accept gifts through January 3 for credit in December (for income tax purposes).

We will incorporate these points into our policy.